Upstart Surges as AI Lender Signals Growth Revival

Upstart's stock surged by 43.3% following its latest earnings report, which showed a significant revenue increase and better-than-expected guidance, signaling a return to growth for the AI-powered lender. The company's revenue for the third quarter was $162 million, a 20% year-over-year increase, and it anticipates further growth in the next quarter. This positive performance comes as interest rates stabilize, attracting more investors back to Upstart's platform. Despite the stock's rise, it remains significantly below its all-time high, and its valuation is higher compared to peers like SoFi Technologies.