TSMC’s board approves up to $1 billion for Anthropic and OpenAI

Reuters reported on 10 November that TSMC’s board approved an investment of up to $500 million to buy shares in Anthropic at its initial public offering price, and an investment of up to $500 million to buy preferred stock in OpenAI. The two approvals are a ceiling of $1 billion. Reuters said the purchases have not been described as completed. The report says Anthropic’s offered range is $70.00 and $78.00 a share, and that the company is seeking a valuation of up to $1.4 trillion.

The Wall Street Journal’s account of the same board meeting says the approvals are up to $500 million in each company. It also reported that Anthropic plans to raise $26 billion in a separate private placement that includes TSMC among the investors, and that the board approved $40.93 billion of capital expenditure covering manufacturing, packaging, plant construction, and 2027 research and development. Those expenditure and private-placement figures are in the Journal’s report. They are not in Reuters’ account of the two equity approvals.