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.

OpenAI has confirmed its plans to restructure as a for-profit entity, officially announcing a transition that has been the subject of speculation for months. The company says it will transform its commercial arm into a Public Benefit Corporation (PBC) by 2025,

OpenAI said it would be restructured as a public benefit corporation, and that the nonprofit that controls the organization would receive shares in the new company.