TSMC Approves Investment of Up to $1 Billion in Anthropic and OpenAI
Key Facts
TSMC’s board of directors on Tuesday, November 10, 2026, approved an investment of up to $1 billion in Anthropic and OpenAI, with up to $500 million allocated to each, according to the company’s filing with the U.S. Securities and Exchange Commission. The Anthropic investment is for shares at the price of its initial public offering, while the OpenAI investment is allocated to preferred shares. The decision sets two investment ceilings and does not indicate that the share purchases have been completed. It makes the chipmaker a direct investor in both companies alongside its manufacturing business. The filing did not specify a strategic objective for either investment.
The Anthropic investment is tied to an IPO whose price range was $70 to $78 per share, with a target valuation of up to $1.4 trillion, according to a Reuters report published via MarketScreener. An Associated Press report on November 11 said the company sought a valuation of about $1.3 trillion in a regulatory filing submitted on Tuesday, November 10. The figures are two estimates reported in different contexts: the target IPO range in the Reuters report and the valuation AP said Anthropic sought in its filing. OpenAI’s investment concerns preferred shares, and the filing did not specify how much would actually be invested within the cap. The board’s approval remains authorization up to the stated limits, not an announcement that the full amount has been deployed.
The approval came as part of a broader package adopted by the board, including capital appropriations of about $40,926.70 million for expanding capacity in advanced technologies, advanced packaging and mature or specialty technologies, as well as for building factories and their systems and funding the company’s 2027 research and development investments. These items show that the decisions combined financial investments in two companies working in artificial intelligence with funding for the company’s manufacturing and research infrastructure. TSMC forecast in October that its full-year 2026 revenue would grow about 44%, and said demand had exceeded available manufacturing capacity. It also said that month it had recorded its sixth consecutive quarter of record profits, driven by strong demand for AI chips, while expressing caution about 2027 because of macroeconomic uncertainty. The company said demand for AI-related chips remained exceptionally strong.
Third-quarter results announced by the company show the scale of activity preceding these decisions: consolidated revenue was 1,494.24 billion New Taiwan dollars, net income was 763.06 billion, and diluted earnings per share were 29.43 New Taiwan dollars, according to TSMC’s filing. The board approved a cash dividend of 9 New Taiwan dollars per share for the same quarter. It set March 17, 2027, as the record date for ordinary shareholders and March 11 as the ex-dividend date, with payment scheduled for April 8, 2027. The dividend sets a specific date for shareholder returns alongside the expansion and investment allocations. The filing did not link the two investment decisions to the quarterly results or the dividend.
In the market, TSMC shares rose 3.1% in trading on Wednesday, November 11, according to AP, which linked the move to the company’s announcement that October revenue was nearly six times its level a year earlier. Taiwan’s Taiex index also rose 2.1% in the session, and Taiwan led regional market gains, the news agency said. The stock’s move came the day after the board’s approval, but AP’s report attributed the rise to October revenue data. TSMC had raised its projected 2026 capital expenditure budget to a range of $60–64 billion, from an earlier estimate of $52 to $56 billion, according to an AP report on its U.S. expansion investments. The U.S. expansion plan included an additional investment of $100 billion in Arizona, according to the agency’s report published in July.