TSMC Approves $1B AI Investment

TSMC's board approved investing up to $1 billion in OpenAI and Anthropic, allowing purchases of up to $500 million of shares in each company. The board also authorized up to $500 million to create a company that will invest in semiconductor businesses and the wider industry. TSMC manufactures Apple's custom chips, while OpenAI and Anthropic are developing processors of their own.