TSMC is putting money directly into the two leading AI labs, a bet that AI demand will keep driving chip orders its way.

• TSMC's board approved buying up to $500 million of Anthropic common stock (priced off Anthropic's upcoming IPO) and up to $500 million of OpenAI preferred stock.
• The chipmaker also approved setting up a new investment arm with up to $500 million to make strategic bets across the semiconductor supply chain.
• Analysts see this as a vote of confidence in AI's growth, tying TSMC's fortunes even more tightly to Anthropic and OpenAI's success.
• Separately, TSMC raised its dividend to a record high, a sign the company itself is still flush with cash despite the new spending.

Outlook: Expect TSMC to keep expanding its AI-related investments as it leans further into being both a chip supplier and an investor in the AI companies that depend on it.