Upstart's shaking things up in the lending world. This fintech outfit, worth about $7.2 billion, is turning heads with its AI-powered approach. It's kind of surprising how far they've come since 2012.

They've dished out $62 billion in loans. Sounds like a lot, right? But it's just a drop in the ocean of lending. Their fancy AI looks at over 2,500 things to figure out if you're good for a loan. They've got 150+ banks on board, offering all sorts of credit.

Numbers are looking good. Revenue shot up 135% in Q2 2025. More people are using their platform - transaction volume jumped 180%. The Fed's playing around with interest rates, so who knows what'll happen next?

The stock's been on a wild ride. Up 110% in two years, but still way off its peak. It's trading at 6.4 times sales now. Cheaper than before, it seems.

But here's the thing - Upstart's business goes up and down with the economy. 2024 was rough. They lost money. They're hopeful for 2025, but it's not entirely clear how it'll pan out.

The big question: Can Upstart handle a full credit cycle? We haven't seen that yet. It's exciting stuff, but risky too. Economic hiccups could hit them hard.

So, Upstart's an interesting bet in fintech. Could be big, could be a bust. It's a roll of the dice in this new lending game.