TSMC’s AI Boom, Trump–Putin’s Peace Push & MrBeast’s Fintech Gamble

17th October 2025

TSMC raises its revenue forecast and delivers record profits on surging AI chip demand, fueling another wave of optimism in the semiconductor rally. Wall Street dips as U.S. regional banks spook investors with fresh loan losses, dragging major lenders lower. YouTube titan MrBeast sets his sights on fintech with a new “Beast Financial” venture, signaling creators’ next frontier, banking. Meanwhile, Donald Trump says he’ll meet Vladimir Putin in Budapest for a potential end to the Russia–Ukraine war. All this and more in today’s Read It And Eat!

Major Headlines

• TSMC raises revenue forecast on bullish outlook for AI megatrend

Taiwan Semiconductor Manufacturing Company (TSMC)  (2330.TW), the world's biggest producer of advanced chips, raised its full-year revenue forecast on Thursday on a bullish outlook for spending on artificial intelligence, after posting a record profit that blew past market estimates. The strong results underscore the continued faith in AI, brushing off at least for now concerns about a bubble. 

U.S.-listed shares of the Taiwanese chipmaker were up 1.6% in pre-market trade in New York and boosted U.S. semiconductor stocks, including AI leader Nvidia (NVDA.O) and Advanced Micro Devices (AMD.O) TSMC said it expects robust artificial intelligence demand to continue, as it raised its 2025 revenue guidance to mid-30% growth in U.S. dollar terms from around 30%, and maintained its forecast for capital spending at up to $42 billion for 2025. "AI demand actually continues to be very strong - more strong than we thought three months ago," CEO C.C. Wei told an earnings call.

"In addition, we directly receive very strong signals from our customers requesting the capacity to support their business. Thus, our conviction in the AI megatrend is strengthening." There has been a flurry of mega deals between AI firms and chipmakers, notably by OpenAI with Nvidia, AMD and Broadcom (AVGO.O), in the past month or so to build $1 trillion or more in data center capacity. That portends more demand for chips, which make up a significant portion of the cost of the data centers. Nvidia, AMD and Broadcom all rely on TSMC for chip production.

The multi-billion dollar investment announcements have raised concerns about the formation of a bubble reminiscent of the dotcom boom and bust, with securities investors on guard for signals that demand is tailing off or that the massive spending is not paying off as anticipated. Recent company announcements indicate demand is resilient. Reuters

• Wall St futures tumble as bad loans by regional banks make investors nervous

U.S. stock index futures slumped on Friday as mounting concerns over risks and deteriorating credit quality triggered a selloff in regional banks, further weakening investor confidence strained by U.S.-China trade tensions. The SPDR S&P regional banking ETF (KRE.P), dropped 1.9% in premarket trading, extending losses after its steepest one-day drop in more than six months. 

The decline was triggered by Zions Bancorporation (ZION.O), disclosing a $50 million loss tied to two commercial and industrial loans, while Western Alliance (WAL.N), said it had initiated a lawsuit alleging fraud by Cantor Group V, LLC. The selloff rekindled concerns over lax lending standards in a sector already grappling with two auto bankruptcies, more than two years after the collapse of Silicon Valley Bank. Zions shares fell 1.8%, while Western Alliance lost 2.8% before the bell. Investment bank Jefferies (JEF.N), which has disclosed exposure to bankrupt auto parts supplier First Brands, dropped 2.5%, extending Thursday's 10.6% plunge. 

Shares of some of the major U.S. banks also dropped. JPMorgan (JPM.N), fell 1.1% and Morgan Stanley (MS.N), lost 0.9%. Bank of America (BAC.N), and Citigroup (C.N), declined 1.8% and 1.9%, respectively. "All these could be isolated incidents, but there are increasing concerns about souring loans and bad credit," said Neil Wilson, strategist at Saxo Markets. "Add worries about trade wars (last week's edition) and the ever-growing bubble risk from AI and you have a pretty nasty little cocktail of excuses to end the week in risk-off mode." Reuters

• Top YouTuber MrBeast is laying the groundwork for a finance venture 

The world's top YouTuber, who has 445 million subscribers, is laying the groundwork to expand into financial services, according to a new trademark application and investor materials viewed by Business Insider. The application, filed with the US Trademark and Patent Office on October 13, lists plans for a "mobile app and online services for a range of banking, financial advisory, crypto exchange, and other services." It would exist under the "MrBeast Financial" brand.

The trademark application aligns with a 2025 fundraising pitch deck that outlined plans to expand into fintech, which was viewed by Business Insider. That deck described customized offerings that would target MrBeast's audience, supported by financial literacy content. The deck listed nine potential offerings, including student loans, insurance, and credit insights. It said the company would launch by partnering with a fintech company to leverage its existing infrastructure "while avoiding regulatory, credit risk, and capital requirement."

The deck provided no timeframe for a launch, but companies that file for a trademark are required to submit a sworn statement stating their intention to use it. In the investor deck, the potential offering was referred to by a slightly different name, "Beast Financial."  Some creators, including TikToker Charli D'Amelio, have invested in fintech firms. However, it's unusual for a creator to enter a field like banking themselves because of the regulation involved, said trademark attorney Josh Gerben, whose firm works with entrepreneurs, a variety of companies, celebrities, and pro athletes. Even in the context of a licensing deal, there's a reputational risk when people's money is involved. "You're putting your brand's reputation on the line," Gerben said. Business Insider

• Trump says he and Putin will meet in Budapest to discuss end to Russia-Ukraine war 

Donald Trump announced he will hold a second summit with Vladimir Putin in Budapest after a two-hour phone call with the Russian yielded “great progress”.

The US president said high-level officials from Washington and Moscow would meet next week to thrash out the details for the leaders’ second in-person meeting this year. His claimed breakthrough came on the eve of a White House meeting with Volodymyr Zelensky, which is expected to focus on deliveries of long-range Tomahawk missiles to Ukraine.

During the phone call, Putin warned Mr Trump not to sell Tomahawks to Ukraine.

“Vladimir Putin reiterated his point that the Tomahawks will not change the situation on the battlefield, but will significantly damage relations between our countries. “Not to mention the prospects for peaceful resolution,” Yuri Ushakov, Putin’s foreign policy adviser, said. A top Kremlin aide said the meeting between Mr Trump and Putin would be organised “without delay”.

“I have just concluded my telephone conversation with President Vladimir Putin, of Russia, and it was a very productive one,” Mr Trump wrote on Truth Social.

“At the conclusion of the call, we agreed that there will be a meeting of our High Level Advisors, next week. The United States’ initial meetings will be led by Secretary of State Marco Rubio, together with various other people, to be designated. A meeting location is to be determined. “President Putin and I will then meet in an agreed upon location, Budapest, Hungary, to see if we can bring this ‘inglorious’ war, between Russia and Ukraine, to an end.”

The US president also revealed he had discussed Ukraine’s purchase of Tomahawks missiles with the Russian president, who has warned that such a move would be an escalation of the conflict. “We talked about it a little bit. Didn’t say much, but I do say to you, we need Tomahawks for the United States of America too. We have a lot of them, but we need them,” he said. Putin “didn’t like the idea” of Ukraine receiving thousands of Tomahawk missiles, the president said. “I did actually say [to Putin], ‘Would you mind if I gave a couple of thousand Tomahawks to your opposition?’ I did say that to him. I said it just that way,” Mr Trump joked. Yahoo.News

Minor Headlines 

• Bitcoin price faces fresh stress as miner deposits to Binance top $5bn Yahoo.Finance

  
  

• OpenAI would have to spend over $1 trillion to deliver its promised computing power. It may not have the cash Yahoo.Finance

  
  

• Microsoft pushes AI updates in Windows 11 as it ends support for older system Yahoo.Finance

  
  

• Harvard endowment swells to nearly $57 billion, donations reach a record. Reuters

  
  

• OpenAI pauses Sora video generations of Martin Luther King Jr. TechCrunch

  
  

• US drops out of world’s most powerful passport top 10 list for the first time CNN

  
  

• FIFA announces over 1 million tickets sold for 2026 World Cup in North America FIFA

  
  

• Battlefield 6’ Breaks EA Franchise Records With More Than 7 Million Copies Sold Opening Weekend (Gaming News Roundup) Yahoo.News