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.

Following the reorganization, the for-profit division would be responsible for overseeing OpenAI’s “operations and business,” while the nonprofit arm would operate separately with its own leadership team and a focus on charitable efforts in health care, education and science.

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.