Apple chip supplier TSMC has announced board approval to invest up to $1 billion in AI companies OpenAI and Anthropic. The decision allows TSMC to buy 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.