Nov 20 (Reuters) – Intuit (INTU.O), opens new tab forecast second-quarter revenue growth above Wall Street estimates on Thursday, a sign of growing demand for its artificial intelligence-powered financial management tools.
Shares of the company rose around 3% in extended trading.
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The company, which offers products such as tax-preparation software TurboTax, finance portal Credit Karma and accounting tool QuickBooks, is benefiting as customers increasingly seek personalized financial guidance and automated solutions for tasks such as bookkeeping.
On Tuesday, Intuit signed a multi-year deal worth more than $100 million with OpenAI to use the ChatGPT maker’s AI models to power the company’s AI agents.
The integration of Intuit apps within ChatGPT will involve “no revenue share”, and customer data privacy and security principles will remain unchanged, CEO Sasan Goodarzi said on the post-earnings call.
Earlier in the day, the company named ServiceNow (NOW.N), opens new tab CEO Bill McDermott and Nasdaq (NDAQ.O), opens new tab CEO Adena Friedman to its board, effective August 2026, while Goodarzi is set to become board chair on January 22, 2026.
Intuit forecast revenue growth of about 14% to 15% for the second quarter ending January 31, above analysts’ average estimate of 12.8% growth, according to data compiled by LSEG.
However, its adjusted earnings per share outlook of $3.63 to $3.68 for the quarter fell short of the estimated $3.83.
Revenue for the first quarter rose 18% to $3.89 billion, handily beating estimates of $3.76 billion.
Adjusted EPS of $3.34 also exceeded estimates of $3.09 for the quarter ended October 31.
“We are confident in delivering double-digit revenue growth and expanding margin this year, and we are reiterating our full-year guidance for fiscal 2026,” finance chief Sandeep Aujla said.
The board also approved a quarterly dividend of $1.20 per share, a 15% increase from a year ago.
Reporting by Jaspreet Singh in Bengaluru; Editing by Vijay Kishore
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Dr. Qi Zhang is a 2025–26 CAST Research Fellow and an associate professor in theSchool of Information Technology, leading transformative research to improve pediatric heart diagnostics using artificial intelligence. His work focuses on an AI-assisted system that supports quicker and more equitable pediatric cardiac care.
“Most AI tools in cardiology are built for adults, yet children’s hearts develop differently and deserve their own technologies. I was drawn to the challenge of designing AI that truly serves young patients,” Zhang said. “Seeing how early diagnosis shapes a child’s life makes this work deeply personal for me.”
Project overview
This project focuses on data online. It turns complex ECG data into clear, shareable insights that support better and more equitable care.
Zhang mentioned that partnerships with OSF HealthCare and Illinois State University kept the project grounded, providing all the necessary elements. OSF provides pediatric data and medical expertise, while Illinois State supplies high-performance computing, AI expertise, and student researchers who advance the technical work.
“Together, we bridge the gap between engineering and medicine, translating laboratory research into practical tools that can improve patient care,” Zhang said.
“Together, we bridge the gap between engineering and medicine, translating laboratory research into practical tools that can improve patient care.”
Dr. Qi Zhang
Student involvement
Zhang mentioned that Illinois State students are integral to the project’s success. Under his mentorship, they contribute to his research by developing code modules, analyzing cardiac data, and designing visualization tools that make complex medical information easier to interpret.
“Students’ participation not only strengthens the project’s outcomes but also provides them with valuable, hands-on experience in applying artificial intelligence to real-world health care challenges,” Zhang noted.
“Students’ participation not only strengthens the project’s outcomes but also provides them with valuable, hands-on experience in applying artificial intelligence to real-world healthcare challenges.”
Dr. Qi Zhang
Challenges and solutions
According to Zhang, developing AI and telemedicine tools for children presents unique challenges in terms of data accuracy and secure data sharing. Zhang and his team focus on refining data quality through collaboration with clinicians and implementing encrypted communication systems that ensure patient privacy.
Moreover, their work also addresses health care inequality. Many rural families live hours away from pediatric specialists. The AI system will enable local doctors to securely share ECG data with experts, thereby helping to shorten diagnosis times and improve outcomes. “Our goal is to make advanced cardiac care more accessible to every child, regardless of where they live,” Zhang said.
“Our goal is to make advanced cardiac care more accessible to every child, regardless of where they live.”
Dr. Qi Zhang
Zhang’s team plans to expand the system to include real-time heart monitoring and early risk prediction for pediatric heart conditions. Future phases will integrate wearable sensors and imaging data to build a broader platform that supports both diagnosis and clinician training.
Support from CAST
According to Zhang, the College of Applied Science and Technology research fellowship and internal funding have given him the time and support to innovate while mentoring students who share a passion for applying AI for social good.
“The support from CAST has allowed me to turn technical concepts into meaningful initiatives that benefit both patients and students,” Zhang said.
Through innovation, collaboration, and mentorship, Zhang’s research reflects his commitment to advancing technology and improving lives by transforming the future of pediatric cardiology.
Learn more about the College of Applied Science and Technology.
As artificial intelligence becomes more powerful and widespread, so does the environmental cost of running it.
Behind every chatbot, image generator, and television streaming recommendation are massive banks of millions of computers housed in an increasing number of data centers that consume staggering amounts of electricity and water to keep their machines cool. Most of that electricity is still produced by fossil fuel-burning power plants, which contribute directly to air pollution and climate change.
Mihri and Cengiz Ozkan
A study from UC Riverside’s Marlan and Rosemary Bourns College of Engineering, however, proposes a solution to this growing problem. It outlines a method to dramatically reduce the pollution caused by AI processing in large data centers—while also extending the life of the hardware doing the work. No existing system combines these two goals, say the authors, professors Mihri Ozkan and Cengiz Ozkan.
While other strategies focus mainly on scheduling computing tasks when or where electricity is cleaner, the proposed system goes further. Called the Federated Carbon Intelligence, or FCI, it integrates environmental awareness with real-time assessments of the condition of the servers in use. The goal is not just to minimize carbon emissions but also to reduce the stress and wear and tear on the machines that generate the pollution.
The researchers, who are married, backed their proposal with simulations. Their modeling showed that FCI could reduce carbon dioxide emissions by up to 45 percent over a five-year period. The system could also extend the operational life of a server fleet by 1.6 years.
“Our results show that sustainability in AI cannot be achieved by focusing on clean energy alone,” said Mihri Ozkan, professor of electrical and computer engineering. “AI systems age, they heat up, and their efficiency changes over time—and these shifts have a measurable carbon cost.
“By integrating real-time hardware health with carbon-intensity data, our framework learns how to route AI workloads in a way that cuts emissions while protecting the long-term reliability of the machines themselves.”
By constantly monitoring the temperature, age, and physical wear of servers, FCI helps avoid overworking machines that are already stressed or nearing the end of their useful life. In doing so, it prevents costly breakdowns, reduces the need for energy and water-intensive cooling, and keeps servers running longer.
This approach recognizes that sustainability isn’t just about cleaner energy. It’s also about getting the most out of the hardware we already have, the authors say.
Their system further accounts for the complete lifecycle carbon footprint of computing—especially the embodied emissions from manufacturing new servers. By keeping existing machines in service longer and distributing computing tasks in a way that balances performance, wear, and environmental impact, the system addresses both sides of the sustainability equation.
“We reduce operational emissions in real time, but we also slow down hardware degradation,” said Cengiz Ozkan, professor of mechanical engineering. “By preventing unnecessary wear, we reduce not only the energy used today but also the environmental footprint of tomorrow’s hardware production.”
FCI dynamically determines where and when to process AI tasks based on constantly updated data. It tracks the condition of the machines, gauges the carbon intensity of electricity at any given time and place, and evaluates the demands of each AI workload. Then, using that information, it makes real-time decisions to send the task to the server best suited to handle it—with the least impact on the planet and the machine.
Deploying such systems—driven by AI models—could represent a major advancement for both environmental sustainability and the cloud computing industry, the researchers said.
Establishing the adaptive framework would not require new equipment, just smarter coordination across the systems already in place, Mihri Ozkan said.
Published in the journal MRS Energy and Sustainability, the study is titled “Federated carbon intelligence for sustainable AI: Real-time optimization across heterogeneous hardware fleets.”
The researchers say the next step is partnering with cloud providers to test FCI in real data centers, a move that could lay the foundation for NetZero-aligned AI infrastructure worldwide. The Ozkans described an urgent need. The growing number of data centers is already consuming more power than entire countries, including Sweden.
“AI is expanding faster than the energy systems that support it,” Cengiz Ozkan said. “Frameworks like ours show that climate-aligned computing is achievable—without sacrificing performance.”
WASHINGTON—November 20, 2025—The Semiconductor Industry Association (SIA) today announced AMD Chair and CEO Dr. Lisa Su has been elected Chair of the SIA Board of Directors. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.
“We are delighted to welcome Dr. Lisa Su as SIA Chair during an exciting and consequential time for the semiconductor industry,” said SIA President and CEO John Neuffer. “Lisa has pushed the boundaries of semiconductor innovation for decades and is an extremely strong and influential leader in our industry. We look forward to her leadership in the year ahead as we push for policies that promote growth and innovation in the chip sector and keep America on top in this foundational, transformative technology.”
Dr. Su brings more than 30 years of experience in the semiconductor industry. As Chair and CEO of AMD, she has led the company’s transformation into a global leader in high performance computing and a key supplier of advanced AI chips. Before assuming her current role, Dr. Su served as chief operating officer at AMD, where she unified AMD’s business units, sales, operations, and infrastructure into a single organization focused on execution and market impact. Prior to her roles at AMD, Dr. Su held leadership roles with Freescale Semiconductor (now NXP Semiconductors), IBM, and Texas Instruments. Dr. Su holds a PhD in electrical engineering from the Massachusetts Institute of Technology, and in 2020 received the Robert N. Noyce Award for her groundbreaking contributions to the semiconductor industry.
“The semiconductor industry is at the heart of American innovation and essential to our economic growth and national security,” said Dr. Su. “It’s an honor to serve as Chair of SIA at such an important time. I look forward to working alongside my colleagues on the SIA Board of Directors to strengthen U.S. semiconductor competitiveness, extend our foundation for innovation, and build a stronger chip industry for many years to come.”
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About SIA The Semiconductor Industry Association (SIA) is the voice of the semiconductor industry, one of America’s top export industries and a key driver of America’s economic strength, national security, and global competitiveness. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms. Through this coalition, SIA seeks to strengthen leadership of semiconductor manufacturing, design, and research by working with Congress, the Administration, and key industry stakeholders around the world to encourage policies that fuel innovation, propel business, and drive international competition. Learn more at www.semiconductors.org.
The direction of crypto prices could inform the trajectory of the U.S. stock market, according to Tom Lee, Fundstrat Global Advisors’ head of research. Bitcoin on Thursday declined to levels not seen since April 21 , amid a broader market pullback that saw investors rake in profits from risk-on assets as hopes of an upcoming Federal Reserve interest rate cut lessened . Major U.S. indexes closed lower on Thursday, reversing earlier gains, as heavyhitter tech stocks lost steam even after Nvidia’s strong third-quarter results . The crypto and AI trade are closely linked, as investors who have significant holdings in AI-related stocks tend to also hold bitcoin. Lee sees further declines to come for crypto assets, which could indicate further pain in stocks, but he remains optimistic for a comeback longer term. “The crypto market has been limping along since Oct. 10, because on that date was a negative shock,” Lee said Thursday on CNBC’s “Power Lunch.” “I think that this drip that’s been taking place for the last few weeks in crypto reflects this market maker crippling. And in 2022, it took eight weeks for that to really get flushed out. We’re only six weeks into it … I think crypto, bitcoin and ethereum are in some ways a leading indicator for equities because of that unwind and now this sort of limping and weakened liquidity.” BTC.CM= 6M mountain Bitcoin over the past six months Lee recalled the sudden crash in crypto prices that took place on Oct. 10, which was caused by an escalation in U.S.-China trade sentiment and also influenced by structural factors such as high leverage in crypto derivatives. More than 1.6 million traders saw a combined $19.37 billion erasure of leveraged positions over 24 hours beginning that day, making it the largest ever liquidation event tracked by data analytics firm CoinGlass, CNBC previously reported . Bitcoin prices have fallen since peaking above $126,000 in early October, and the crypto market slide has spread to other pockets. For example, ether is currently trading below $2,900. However, Lee remains bullish that the bottom in crypto prices appears on the horizon. “When we look at those prior corrections, even bitcoin in the last few years … each of them had the recovery, the rise from the low was faster than the drip to the bottom,” Lee told CNBC. “The recovery from there to all-time highs will be faster than the decline. That’s what happened in every crypto decline, because what you have is all the spooled up energy. People are sitting and waiting and there’s panic selling, forced sellers, but the buyers are being patient. That’s what will happen.”
PALM BEACH GARDENS, Fla., Nov. 20, 2025 /PRNewswire/ — Carrier Global Corporation (NYSE: CARR) Chairman & CEO David Gitlin will speak at the Goldman Sachs Industrials and Materials Conference on Thursday, December 4, 2025, at 8:40 a.m. ET.
The event will be broadcast live at ir.carrier.com. A webcast replay will be available on the website following the event.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit corporate.carrier.com or follow Carrier on social media at @Carrier.
Europe is seeing an increase in bloodstream infections (BSIs) caused by difficult-to-treat drug-resistant bacteria, according to data published this week by the European Centre for Disease Prevention and Control (ECDC).
The data from the latest EARS-Net (European Antimicrobial Resistance Surveillance Network) report, which covers 30 European Union/European Economic Activity (EU/EEA) countries, show that the estimated total incidence of carbapenem-resistant Klebsiella pneumoniae BSIs rose by 61% from 2019 (the baseline year) through 2024, while the incidence of third-generation cephalosporin-resistant Escherichia coli BSIs increased by 5.9%.
The EU has set 2030 target reductions of 5% and 10% for the two pathogens, respectively, but ECDC says it appears unlikely those targets will be met.
BSIs caused by other bug-drug combinations under EARS-Net surveillance also saw increases, including carbapenem-resistant E coli and vancomycin-resistant Enterococcus faecium. But one bright spot was that incidence of BSIs caused by methicillin-resistant Staphylococcus aureus fell by 20.4% from 2019 levels. As with prior EARS-Net reports, higher rates of antimicrobial resistance (AMR) were reported by countries in southern, central, and eastern Europe.
Not just a medical issue
The ECDC estimates AMR causes more than 35,000 deaths a year in EU/EEA countries. The organization attributes the rise in difficult-to-treat infections to an aging and vulnerable population with chronic health issues, cross-border transmission of resistant pathogens, persistent high antibiotic use combined with gaps in infection prevention and control, and a shortage of novel antibiotics.
“Antimicrobial resistance is not just a medical issue—it’s a societal one,” Diamantas Plachouras, MD, PhD, head of the ECDC’s Antimicrobial Resistance and Healthcare-Associated Infections division, said in a press release. “We must ensure that no one in Europe is left without an effective treatment option.”
Shoppers walk past a GAP fashion retail store on Oxford Street on October 30, 2025 in London, United Kingdom.
John Keeble | Getty Images News | Getty Images
Apparel retailer Gap said Thursday its comparable sales rose 5% during the fiscal third quarter, driven by strong revenue at its namesake brand after its viral “Better in Denim” campaign with girl group Katseye.
Putting aside pandemic-related spikes, the rise in comparable sales is the strongest growth for Gap since its fiscal 2017 holiday quarter and is well ahead of Wall Street expectations of 3.1%, according to StreetAccount.
In an interview with CNBC, CEO Richard Dickson said the company hasn’t needed to discount as often to sell products, it’s winning customers from all income cohorts and it’s seeing a “great start” to the holiday shopping season.
“While external data points to macro pressure, particularly on the low-income consumer, our customers are finding our price value, [and] our styles are breaking through the competitive landscape,” said Dickson. “Our product is resonating. So we’re very confident as we head into the holiday season.”
Shares of Gap rose 5% in extended trading Thursday.
Here’s how the largest specialty apparel company in the U.S. performed during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
Earnings per share: 62 cents vs. 59 cents expected
Revenue: $3.94 billion vs. $3.91 billion expected
The company’s net income during the three months ended Nov. 1 declined nearly 14% to $236 million, or 62 cents per share, compared with $274 million, or 72 cents per share, a year earlier.
Sales rose to $3.94 billion, up 3% from $3.83 billion a year earlier.
For Gap’s fiscal year, which is slated to end around early February, the company is now guiding to the high end of its previously released sales forecast, expecting sales to rise between 1.7% and 2%, in line with analyst expectations. It previously expected sales to rise between 1% and 2%.
The company is now expecting its full-year operating margin to be around 7.2%, compared to its previous range of between 6.7% and 7%. The forecast includes the impact of tariffs, estimated to be between 1 and 1.1 percentage points.
Comparable sales across Gap, which owns its namesake banner, Old Navy, Athleta and Banana Republic, have been positive now for seven straight quarters. Under Dickson, the company has been as focused on boosting profitability and fixing operations as it has been on reigniting cultural relevance, which has led to sustained sales growth across the portfolio.
Gap’s profitability had been growing, too, as a result, but now that it’s facing tariffs, the retailer’s gross margin and net income are both taking a hit. During the quarter, Gap’s gross margin fell 0.3 percentage points to 42.4% but still came in higher than expectations of 41.2%, according to StreetAccount.
The 14% decline in Gap’s net income was primarily related to tariffs, finance chief Katrina O’Connell said in an interview.
Gap’s better-than-expected results come as apparel sales remain generally soft across the industry and consumers pull back on nice-to-have items like new clothes in favor of necessities.
Aside from clear value players like Walmart and TJX Companies, earnings so far this season have been muted, with some companies blaming macroeconomic conditions and expressing caution about the holiday season.
Dickson said Gap’s varied portfolio gives it a hedge in uncertain economic times because it can capture shoppers in a variety of different places.
“Our portfolio appeals to a wide range of consumers, which is giving us great flexibility in today’s environment,” said Dickson.
Here’s a closer look at how each of the company’s brands performed:
Gap
Gap’s namesake brand has been the focus of Dickson’s turnaround strategy since he took the helm as CEO just over two years ago.
During the quarter, comparable sales rose a staggering 7% – more than double the 3.2% gain analysts had expected, according to StreetAccount. Revenue rose 6% to $951 million.
During the quarter, Gap released its viral “Milkshake” campaign, featuring the early-aughts Kelis song and members of the Katseye pop group. The campaign helped sales, but Dickson said Gap brand’s growth is “a story about consistency” and a mix of better product, marketing and partnerships.
Old Navy
Sales at Old Navy, Gap’s largest brand by revenue, rose 5% to $2.3 billion with comparable sales up 6%, far better than the 3.8% that analysts surveyed by StreetAccount expected. The company said it saw growth in key categories like denim, activewear, kids and baby.
Banana Republic
The elevated, work-friendly brand is still in turnaround mode but saw sales grow 1% to $464 million during the quarter with comparable sales up 4%, better than the 3.2% gain analysts had expected, according to StreetAccount.
This was the second quarter in a row Banana reported positive comparable sales, which the company attributed to better marketing and product.
Athleta
Both revenue and comparable sales at Athleta were down a whopping 11% to $257 million, an eyesore on Gap’s otherwise better-than-expected results.
Dickson has repeatedly said Athleta is in a reset year, but how long that reset will take remains unclear.
“We have been disappointed in the trend. We understand there’s a lot of work to do, but I really do believe in the brand,” said Dickson. “I believe in the leadership and we will continue to build this brand for the long term. It does deserve it.”
Fears of a growing bubble around the artificial intelligence frenzy resurfaced on Thursday as leading US stock markets fell, less than 24 hours after strong results from chipmaker Nvidia sparked a rally.
Wall Street initially rose after Nvidia, the world’s largest public company, reassured investors of strong demand for its advanced data center chips. But the relief dissipated, and technology stocks at the heart of the AI boom came under pressure.
The benchmark S&P 500 closed down 1.6%, and the Dow Jones industrial average closed down 0.8% in New York. The tech-focused Nasdaq Composite closed down 2.2%.
Earlier in the day, the FTSE 100 had closed up 0.2% in London while the Dax had risen 0.5% in Frankfurt. The Nikkei 225 had climbed 2.65% in Tokyo.
Nvidia, now valued at some $4.4tn, has led an extraordinary surge in the valuations of AI-related firms in recent months. As firms splurge on chips and data centers in a bid to get a foothold in AI, fears of a bubble have mounted.
While Nvidia’s highly anticipated earnings exceeded expectations on Wednesday, as the chipmaker continues to enjoy robust demand, concerns persist around the firms using those chips to invest in AI, spending heavily and driving that demand.
“The people who are selling the semiconductors to help power AI doesn’t alleviate the concerns that some of these hyper-scalers are spending way too much money on building the AI infrastructure,” said Robert Pavlik, senior portfolio manager at Dakota Wealth. “You have the company that’s benefiting it, but the others are still spending too much money.”
A mixed jobs report on Thursday morning, which revealed healthy growth in the labor market in September but a slight rise in unemployment, also reinforced expectations that policymakers at the Federal Reserve will likely keep interest rates on hold at their next meeting, in December.
Shares in Nvidia sank 3.2%. The VIX, a measure of market volatility, also climbed 8%.
