TSMC board approves up to $1B in OpenAI, Anthropic stakes
Each stake is capped at $500 million, with the Anthropic shares to be bought at its IPO offering price and the OpenAI position held as preferred stock.
TSMC's board has approved investments of up to $500 million each in OpenAI and Anthropic, for a combined total of up to $1 billion, according to techm.kr.
The two positions are structured differently. The Anthropic stake will be taken by buying common shares at the company's IPO offering price, while the OpenAI investment will be held through preferred shares.
Anthropic is seeking an IPO with a proposed price range of $70 to $78 per share, a range that would imply a valuation of up to $1.4 trillion at the top end. The chipmaker's commitment is tied to that offering price.
Separately, Anthropic is pursuing a $26 billion private funding round involving Google, Nvidia, AMD and Microsoft.
A foundry with record results
The board decision follows a stretch of strong results for TSMC. In the month before the report, the company posted record quarterly net profit for the sixth consecutive quarter and said AI-related chip demand remains high. It expects annual revenue for this year to rise about 44% year on year.
TSMC is also pursuing a $265 billion semiconductor production investment in Arizona and is reviewing further investment in Texas.
Quick answers
How much is TSMC investing in OpenAI and Anthropic?
The board approved up to $500 million for each company, for a total of up to $1 billion.
How will TSMC hold the Anthropic stake?
Through common shares bought at Anthropic's IPO offering price, which has been proposed at $70 to $78 per share.
What other funding is Anthropic pursuing?
A separate $26 billion private round involving Google, Nvidia, AMD and Microsoft.