91680MAB3

Upstart Holdings, Inc.

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A company using artificial intelligence to power consumer lending, Upstart builds software that banks and credit unions use to approve personal loans, auto financing, and home equity lines of credit. Founded in 2012 by three former Google employees, it was named after the old word for someone who rises from a humble start—fitting, since its AI looks at a borrower's education and career potential rather than just a credit score. The trio's original idea was an income-share agreement, where people raised money by promising a slice of future earnings, before the firm pivoted to lending.

0.25% Convertible Senior Notes due 2026