Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) shares are trending on Wednesday.
Shares of the world’s largest pure-play semiconductor foundry edged up 1.54% to $402.59 in after-hours trading on Tuesday. The move followed the company’s announcement that it plans to invest up to $1 billion in two leading AI developers.
TSMC Board Approves Anthropic IPO, OpenAI Stakes
According to a statement released Tuesday, TSMC’s board approved up to $500 million to buy shares in Anthropic at its initial public offering price. It also approved up to $500 million for preferred stock in OpenAI.
Anthropic, set to make its market debut on Nov. 19, is offering 825 million shares at $70 to $78 each, for proceeds of up to $64.35 billion, according to its latest filing. The shares will list on the Nasdaq under the symbol ANT. Backers include Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Nvidia Corp. (NASDAQ:NVDA), Advanced Micro Devices Inc. (NASDAQ:AMD) and Microsoft Corp. (NASDAQ:MSFT).
On the other hand, OpenAI has delayed its potential IPO until at least 2027.
TSMC October Revenue Jumps Nearly 60% on AI Demand
TSMC also reported October revenue of NT$586.89 billion ($17.88 billion) on Tuesday, up 59.7% from a year earlier and 14.7% from September.
The chipmaker also plans to raise capital spending between 2026 and 2028 compared with the previous three years.
In its third-quarter results in October, the company performed better than expected.
Trading Metrics, Technical Analysis
TSMC has a market capitalization of $1.80 trillion, a 52-week high of $487.47 and a 52-week low of $266.82.
The Relative Strength Index (RSI) of the stock stands at 49.
The large-cap tech stock has fallen 34.28% over the past 12 months.
Price Action: In the regular session, TSM gained 2.02% to close at $396.48, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock/Jack Hong
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