Upstart shares climb as Q2 capital-light expansion balances subdued outlook for rest of year

Upstart Holdings is a financial technology company founded in 2012 that has pioneered AI-driven lending. Instead of lending directly like a bank, Upstart runs a cloud-based platform that underwrites personal loans using artificial intelligence models, then connects approved borrowers with banks and credit unions that originate the loansgurufocus.com. Upstart earns fees from banks for the referrals and loan performance, rather than charging borrowers directly. This model allows Upstart to function as a tech intermediary – essentially an AI credit decision engine and marketplace – rather than a traditional balance-sheet lender.