OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.

OpenAIs decision to adopt a public benefit corporation model reflects its effort to align profit-making with its mission to drive societal impact in the fast-evolving AI sector. OpenAI Embraces Public Benefit

The company currently has a for-profit org controlled by a nonprofit, with a “capped profit” share for investors and employees. But in a blog post published Friday, the company says it plans to begin transitioning its existing for-profit into a Delaware Public Benefit Corporation (PBC),

OpenAI has laid out plans to become a for-profit company. In a blog post published on Friday, OpenAI’s board said it will replace the company’s existing structure with one that puts control into the hands of its for-profit arm.