As Fortune reported in September, Altman told his staff at the time that OpenAI would next year become a more traditional for-profit company. In its latest blog post, the company publicly confirmed the planned change for the first time.

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.

OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent.