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TypeScript doesn't directly convert into an anonymous function that is assigned to modules.exports. Instead, TypeScript is compiled into JavaScript, and the resulting JavaScript code can be exported as a module using the module.exports syntax.

When a TypeScript file is compiled, the resulting JavaScript code can contain various constructs like classes, functions, variables, and more. When exporting a module, you can use the module.exports syntax to export any of these constructs.

For example, if you have a class called MyClass in your TypeScript file, and you want to export it as a module, you can write:

export class MyClass {
  // class definition
}

When this TypeScript file is compiled into JavaScript, it might look something like this:

"use strict";
Object.defineProperty(exports, "__esModule", { value: true });
exports.MyClass = void 0;
var MyClass = /** @class */ (function () {
    function MyClass() {
        // constructor
    }
    // other methods
    return MyClass;
}());
exports.MyClass = MyClass;

In this JavaScript code, the MyClass class is defined and then assigned to exports.MyClass. When another module imports this module, they can use the require function to get access to this exported class:

const { MyClass } = require("./my-module");

In this way, TypeScript can be used to write modular and maintainable code, and the resulting JavaScript code can be used in a wide variety of environments.