TSMC board approves $1 bln investment in Anthropic, OpenAI; shares rise

Taiwan Semiconductor Manufacturing Company, or TSMC’s board approved a combined investment of $1 billion in Anthropic and OpenAI.

Shares of the chipmaker surged over 4% on Wednesday, following separate data that showed TSMC’s October sales jumped 60% year-on-year.

TSMC approved up to $500 million to purchase shares in Anthropic at its initial public offering price. The board also approved an investment of up to $500 million to buy preferred stock in OpenAI.

The move came shortly after Anthropic set its IPO price range at $70 to $78 per share on Tuesday. The Claude developer is seeking a valuation of up to $1.4 trillion, which would make it one of the largest stock market debuts on record.

TSMC is the world’s largest contract chipmaker, and serves as a supplier to major AI companies, including Nvidia, whose graphics processors power many current AI models.