New York, June 2, 2026, 10:16 EDT
- SoFi shares slipped 3.6% to $17.91 in early Nasdaq action.
- SoFi rolled out SoFi Coach, its new AI-driven money management tool, first to SoFi Plus members.
- The step puts more pressure on a busy field where finance names like Robinhood and Charles Schwab are betting on AI in personal finance.
SoFi Technologies shares dropped early Tuesday, paring recent gains. The move came as the digital lender rolled out an AI-based financial coaching tool meant to keep users on its app.
Shares were last down 3.6% at $17.91, after starting at $18.03 and reaching an intraday peak of $18.58. About 14.6 million shares traded. SoFi’s market cap was around $24.7 billion.
The timing is key. SoFi wants to push its app past loans and into a more daily finance tool, tying together banking, investing, crypto, and planning so users stick around. The company is making a bigger bet on being a finance platform, not just a lender that trades with rates and credit trends.
SoFi Coach is launching first for SoFi Plus members. The company said the chat tool lets users track spending, manage debt, plan big goals and eventually do things like open accounts, set up recurring transfers or move cash within SoFi.
SoFi CEO Anthony Noto said that “too many people don’t have the information” they need to make basic money choices confidently. The new product, according to Brian Walsh, head of advice and planning, is designed to make “moments of uncertainty into clear next steps.” Stock Titan
SoFi said early tests led to “tens of thousands” of financial actions, and almost 70% of engaged testers did things like paying off high-interest debt or shifting money to higher-yield accounts. The key for investors is if AI will actually drive more use, boost deposits and fees, or end up as just another add-on.
SoFi is moving further into AI in consumer finance with its new launch. Barron’s noted Robinhood and Charles Schwab are rolling out AI features too, but SoFi Coach isn’t giving investment advice or taking action for users.
SoFi’s shares have struggled even after product updates. The stock dropped in April when the company left its 2026 revenue guidance unchanged, despite hitting record first-quarter numbers. William Blair analyst Andrew Jeffrey wrote, “The Street will hate these results,” but saw limited downside. Reuters
SoFi’s first-quarter numbers came in strong, but shares didn’t match the strength that day. Adjusted net revenue jumped 41% to $1.1 billion. Adjusted EBITDA rose 62% to $340 million. Members climbed 35% to 14.7 million.
Loan demand held up. Total originations hit $12.2 billion for the March quarter, driven by $8.3 billion in personal loans. Student-loan and home-loan originations also posted strong gains.
Risk is still present. SoFi said Coach could give inaccurate responses and is not financial advice. The company also pointed to possible issues from regulation, product demand, reliability and security as potential pressures on the rollout. Credit is a key variable. SoFi’s allowance for credit losses rose to 3.67% of loans at amortized cost at March 31, up from 3.34% a year before.
Tuesday’s move doesn’t seem to be about any single AI product. Instead, it’s a trial of how much investors will pay for SoFi’s pitch: that the digital bank can keep growing its member base, cross-sell more products, and keep credit stable as it expands into newer segments like AI and digital assets.
