JP Morgan Delivers Record Breaking Profits; BlackRock Crossess $15 Trillion In Assets Under Management; TSMC Extends AI-Fuelled Growth; ASML Once Again Surpasses Analyst Expectations
- Dipo Owolabi
- Jul 17
- 4 min read
The AI investment boom continues to power Wall Street and the global semiconductor industry. JPMorgan delivered a 41% jump in profit, fueled by record trading activity, a rebound in investment banking, and AI-driven efficiencies, while BlackRock crossed the $15 trillion mark in assets under management on strong investor inflows. Across the chip supply chain, TSMC posted another record quarter on relentless AI demand, and ASML raised its outlook again as manufacturers continue pouring billions into next-generation semiconductor capacity. All this and more in today's Read It And Eat! |
Markets as of 16th of July 2026.. Cells in RED mean that the value is down, cells in Green mean the value is up.
MAJOR HEADLINES
JP Morgan Delivers Record Breaking Profits Of 41%
JPMorgan beat second-quarter earnings expectations, reporting record managed revenue of $58 billion and net profit of $21.2 billion, up 41% from a year earlier, according to Bloomberg. The results cement JPMorgan's position as the clear leader among U.S. banks this earnings season, reinforcing its dominance as the world's largest and most profitable commercial bank.
A second consecutive record quarter in equities trading lifted markets revenue by 35%, while a rebound in investment banking saw both equity capital markets (ECM) and debt capital markets (DCM) fees surge as dealmaking accelerated. Chief Executive Jamie Dimon also said artificial intelligence has enabled the bank to eliminate around 40% of jobs in certain functions through automation and productivity gains. Although several major Wall Street banks: including Goldman Sachs, Bank of America, Morgan Stanley, and BlackRock, also posted record or near-record earnings this season, JPMorgan's combination of record revenue, record profit, stronger trading performance, and AI-driven cost efficiencies set it apart from its peers. Bloomberg
BlackRock Beats Q2 Earnings Expectations As Assets Under Management Reach Record $15 Trillion
BlackRock Beats Q2 Earnings Expectations As Assets Under Management Reach Record $15 Trillion
BlackRock beat second-quarter earnings and revenue expectations as assets under management climbed to a record $15.34 trillion, according to the Wall Street Journal. The world's largest asset manager reported revenue of $7.08 billion, while adjusted earnings came in at $13.91 per share, comfortably ahead of Wall Street estimates, as strong equity markets and continued inflows into its iShares exchange-traded funds (ETFs) drove higher fee income and profitability.
The results underscore the resilience of BlackRock's diversified business model, with rising markets and sustained investor demand for low-cost ETFs continuing to fuel growth. Record assets under management also strengthen the firm's ability to generate recurring management fees, positioning BlackRock to benefit further if global equity markets and institutional investment activity remain robust. Wall Street Journal
Taiwan Semiconductor Manufacturing Company (TSMC) beat second-quarter earnings expectations after reporting record revenue, with sales rising 36% year-on-year, according to Reuters. The company generated revenue of NT$933.79 billion (approximately US$31.9 billion) and earnings per share (EPS) of NT$15.36, both ahead of market expectations. The world's largest contract chipmaker benefited from strong orders for advanced semiconductors used in AI accelerators and high-performance computing, with major customers including Nvidia, Apple, and AMD continuing to expand production.
The results further cement TSMC's position at the centre of the global AI supply chain, as hyperscalers and chip designers continue investing heavily in next-generation computing infrastructure. Sustained demand for advanced chip manufacturing is expected to remain a key driver of the company's earnings as AI adoption expands across cloud computing, enterprise software, and consumer technology. Reuters |
ASML Beats Wall Street Expectations; Proving That The AI Boom Continues
ASML beat second-quarter earnings expectations and raised its full-year outlook for a second consecutive quarter, according to CNBC. The Dutch semiconductor equipment maker reported net sales of €8.95 billion and earnings per share (EPS) of €7.01, both ahead of analysts' expectations. The strong performance was driven by continued customer investment in equipment used to manufacture advanced AI chips, as leading semiconductor companies expanded production capacity to meet booming demand for artificial intelligence processors.
The upgraded guidance highlights the continued strength of the AI investment cycle, with semiconductor manufacturers maintaining aggressive capital expenditure despite broader economic uncertainty. As the sole producer of extreme ultraviolet (EUV) lithography machines required to manufacture the world's most advanced chips, ASML remains one of the biggest beneficiaries of the global race to expand AI computing capacity. CNBC
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