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.

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.

CNBC's Kate Rooney reports on the latest in OpenAI's for-profit plans. Get an inside look into The Elephant Sanctuary in Tennessee, the nation’s largest elephant sanctuary which cares for geriatric elephants as they live out their golden years after retiring from working in the circus or at zoos.