Upstart's AI Underwriting Edge: Can It Keep Driving Loan Growth?

Key Takeaways Upstart originations jumped 154% in Q2 2025 to $2.8B, with conversion rates rising to 23.9%.Model 22 boosted separation accuracy by 17 points, lifting take rates and margins to 58%.Auto and home equity originations grew 87% and 67% sequentially.Upstart Holdings, Inc. (UPST) leverages AI to revolutionize consumer lending. Its underwriting models — built on layered neural networks — have enabled the company to automate 92% of loan approvals. This deep automation has yielded sharp improvements in ...