On November 10, TSMC’s board of directors approved investing no more than US$500 million in OpenAI and Anthropic respectively, with a total investment cap of US$1 billion.
According to TSMCAnnouncement of Board of Directors Resolutions, the Anthropic investment project will obtain Anthropic common shares based on the issuance price per share of its initial public offering (IPO); the OpenAI investment project will obtain special shares of OpenAI Group PBC.
The investment caps for both transactions are the same, but the stock types and pricing conditions are different. The current announcement has been approved by the board of directors, and the completion time of the transaction, the final number of shares acquired and the shareholding ratio have not yet been disclosed.
Anthropic investment is linked to IPO price
Anthropic’s investment will be priced based on the IPO issue price, and the actual acquisition of shares still depends on the final price and investment amount.
In contrast, the announcement listed conditions for OpenAI as investing no more than $500 million and obtaining special shares. It did not provide per-share price or other special share rights details in this resolution.
Further reading:What is Anthropic? Introduction to the differences between Claude development company, business model and OpenAI
The establishment of a semiconductor ecosystem investment company was also approved
At the same meeting, the board of directors also approved the establishment of an investment company with no more than US$500 million for strategic investment in the semiconductor industry and related ecosystems.
The establishment of an investment company and investment in OpenAI and Anthropic are separate decisions, and the budgets are calculated separately. In addition to approving production capacity-related expenditures, the board of directors also approved equity investment arrangements between AI companies and the semiconductor ecosystem.
