TSMC’s board authorized separate investments in Anthropic and OpenAI on November 10. Each authorization is capped at $500 million, for a combined ceiling of $1 billion. The board specified Anthropic common shares priced at its initial public offering and preferred stock in OpenAI Group PBC. Anthropic’s SEC filing supplies more detail about the proposed purchase. The board resolution does not report a completed transaction.
The filing identifies a private placement
Anthropic’s amended registration statement says TSMC Partners would buy non-voting Class N shares in a concurrent private placement, subject to conditions. The public IPO offers Class A shares. The filing illustrates TSMC’s approximately $500 million purchase with 6,756,756 shares at the $74 midpoint of the proposed $70 to $78 IPO range. Multiplying that share count by $74 gives $499,999,944. The example uses the public IPO price to set the price of a different class of stock. Our Anthropic IPO coverage separates the two transactions.
The same calculation cannot be made for OpenAI from the resolution. TSMC names preferred stock without disclosing a per-share price, conversion terms, or voting rights. Comparing ownership would also require the relevant share counts and classes at each company.
The TSMC resolution contains a separate $500 million authorization for a semiconductor investment company. That amount belongs to a different agenda item and is outside the $1 billion ceiling for the two AI investments.
Abdessalam Alaoui
I'm Abdessalam Alaoui, founder of Musthave.AI. I write practical guides to AI models, tools, generative media.
