<h2>關鍵點</h2>
<ul>
<li>Upstart 已申請銀行特許經營，這將使其模式從平台轉變為貸款機構，此外還有更多變化。</li>
<li>轉變為這種模式的好處在於降低融資成本和獲得存款，成為另一種收入來源。</li>
<li>這對公司來説是一個重大變化，並且進入了一個日益擁擠的市場。</li>
<li>我們更看好的 10 只股票 ›</li>
</ul>
<p><strong>Upstart Holdings</strong>（納斯達克：UPST）股票在充滿挑戰的宏觀經濟背景下經歷了多年的平庸表現。儘管在最近幾個季度取得了一些進展，但市場並未接受其最新的季度財報。逆風依然存在，迴歸之路看起來漫長而複雜。</p>
<p>管理層最近宣佈已申請銀行特許經營。他們將此視為降低融資成本和擴展業務的機會，並設想顛覆銀行業，成為 “第一家從零開始建立在人工智能基礎上的銀行”。這會改變其故事並提升其股票嗎？</p>
<p><em><strong>人工智能會創造出世界上第一位萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供英偉達和英特爾都需要的關鍵技術。<strong>繼續 »</strong></em></p>
<h2>成為銀行的好處</h2>
<p>Upstart 運營一個信用評估平台，利用人工智能（AI）和機器學習比傳統信用評分更準確地識別良好借款人。投資者首次發現 Upstart 時，其一個吸引人的特點是它實際上並不持有任何它幫助承保的債務；它將貸款出售給機構投資者。對壞債務的低暴露是一個主要優點。</p>
<p>當公司開始在其資產負債表上持有部分貸款時，市場並未將其視為積極的發展，並且它在貸款被註銷之前已經進行了幾輪融資。例如，它最近宣佈與 Fortress Investment Group 達成協議，在接下來的 15 個月內購買 12.5 億美元的消費貸款。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3MDAzMi9wZW9wbGUtc2hha2luZy1oYW5kcy1pbi1hbi1vZmZpY2UuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3MDAzMi9wZW9wbGUtc2hha2luZy1oYW5kcy1pbi1hbi1vZmZpY2UuanBnJnc9NzAw"/></p>
<p>圖片來源：Getty Images。</p>
<p>目前，Upstart 的角色更像是合作銀行和信用合作社之間的中介，這些銀行和信用合作社使用其平台來識別良好的信用，而機構投資者則購買這些貸款。成為一家銀行將完全改變其模式，從平台轉變為貸款機構，但基於人工智能的基礎，它將把其機器學習模型融入其業務，創造出它設想的未來銀行。</p>
<p>Upstart 通過獲得銀行特許經營，能夠通過存款獲得新的和持續的融資來源。作為一家銀行，它不需要依賴於向合作資金方批發轉售貸款。存款被視為獲取資金的更便宜方式，因為銀行通常對支票和儲蓄賬户提供低利率。它還將能夠在其賬簿上持有貸款更長時間，並累積相關的利息費用。</p>
<h2>這會改變銀行業格局嗎？</h2>
<p>數字銀行正變得越來越擁擠。所有大型銀行都有強大的數字存在，而像 <strong>SoFi Technologies</strong> 和 <strong>Chyme</strong> 這樣的顛覆者正在獲得動力。<strong>Nu Holdings</strong> 最近獲得了美國銀行特許經營，並且也使用人工智能算法來識別良好的信用。SoFi 與 Upstart 的競爭對手 <strong>Pagaya Technologies</strong> 建立了合作關係，因此 Upstart 的銀行看起來不再像一項開創性的舉措，而更像是擴展其業務和降低融資成本的一種方式。</p>
<p>這仍然可能是有益的，但將其業務徹底改造為其他東西可能會帶來其他複雜性。除了競爭和找出脱穎而出的方法外，它還必須應對嚴格的政府監管。</p>
<p>Upstart 股票今年下跌了 33%，但現在並不一定是買入的時機。</p>
<h2>你現在應該購買 Upstart 的股票嗎？</h2>
<p>在你購買 Upstart 的股票之前，請考慮以下幾點：</p>
<p><em>Motley Fool Stock Advisor</em> 分析師團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong>，供投資者現在購買……而 Upstart 並不在其中。入選的 10 只股票在未來幾年可能會產生巨大的回報。</p>
<p>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 483,476 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 1,362,941 美元</strong>！*</p>
<p>現在，值得注意的是 <em>Stock Advisor</em> 的總平均回報率為 998%——與標準普爾 500 的 207% 相比，表現優異。<strong>不要錯過最新的前 10 名單，加入由個人投資者為個人投資者建立的投資社區，獲取 <em>Stock Advisor</em>。</strong></p>
<p><strong>查看 10 只股票 »</strong></p>
<p><em>*Stock Advisor 回報截至 2026 年 5 月 19 日。</em></p>
<p><em>Jennifer Saibil 持有 Nu Holdings 和 SoFi Technologies 的股份。Motley Fool 持有並推薦 Nu Holdings 和 Upstart。Motley Fool 推薦 Pagaya Technologies。Motley Fool 有披露政策。</em></p>
<p>此處表達的觀點和意見是作者的觀點和意見，並不一定反映納斯達克公司的觀點。</p>

UPST

UPSX

<p>Upstart 已申請國家銀行特許經營權，從平台轉型為貸款機構，這可能降低融資成本並提供存款渠道。這一轉變旨在利用人工智能顛覆銀行業。然而，Upstart 在競爭激烈的數字銀行市場中面臨挑戰，今年其股票已下跌 33%。分析師建議在投資前保持謹慎，因為 Upstart 並未被列入頂級股票推薦名單</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>關鍵點</h2>
</div><ul>
<li>Upstart has applied for a bank charter, which would change its model from a platform to a lender, plus more.</li>
<li>Changing to this model has advantages in lower funding costs and access to deposits, another revenue stream.</li>
<li>It's a big change for the company and an entry into what's becoming a crowded market.</li>
<li>10 stocks we like better than Upstart ›</li>
</ul>
<div class="lb-trans"><ul>
<li>Upstart 已申請銀行特許經營，這將使其模式從平台轉變為貸款機構，此外還有更多變化。</li>
<li>轉變為這種模式的好處在於降低融資成本和獲得存款，成為另一種收入來源。</li>
<li>這對公司來説是一個重大變化，並且進入了一個日益擁擠的市場。</li>
<li>我們更看好的 10 只股票 ›</li>
</ul>
</div><p><strong>Upstart Holdings</strong>(NASDAQ: UPST) stock has been humbled by years of middling performance amid a challenging macroeconomic backdrop. It has made some progress in recent quarters, but the market didn't embrace its latest quarterly earnings report. Headwinds remain, and the road back looks long and complicated.</p>
<div class="lb-trans"><p><strong>Upstart Holdings</strong>（納斯達克：UPST）股票在充滿挑戰的宏觀經濟背景下經歷了多年的平庸表現。儘管在最近幾個季度取得了一些進展，但市場並未接受其最新的季度財報。逆風依然存在，迴歸之路看起來漫長而複雜。</p>
</div><p>Management recently announced that it has applied for a bank charter. It sees that as an opportunity to lower funding costs and expand its business, and it envisions disrupting the banking industry as &#34;the first bank built from the ground up on AI.&#34; Could this change its story and boost its stock?</p>
<div class="lb-trans"><p>管理層最近宣佈已申請銀行特許經營。他們將此視為降低融資成本和擴展業務的機會，並設想顛覆銀行業，成為 “第一家從零開始建立在人工智能基礎上的銀行”。這會改變其故事並提升其股票嗎？</p>
</div><p><em><strong>Will AI create the world's first trillionaire?</strong> Our team just released a report on the one little-known company, called an &#34;Indispensable Monopoly&#34; providing the critical technology Nvidia and Intel both need. <strong>Continue »</strong></em></p>
<div class="lb-trans"><p><em><strong>人工智能會創造出世界上第一位萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供英偉達和英特爾都需要的關鍵技術。<strong>繼續 »</strong></em></p>
</div><h2>The benefits of being a bank</h2>
<div class="lb-trans"><h2>成為銀行的好處</h2>
</div><p>Upstart operates a credit evaluation platform that uses artificial intelligence (AI) and machine learning to more accurately identify good borrowers than the traditional credit score, which it sees as limited. When investors first discovered Upstart, one of the attractive features was that it doesn't actually hold any of the debt that it helps underwrite; it sells the loans back to institutional investors. Low exposure to bad debt was a major plus.</p>
<div class="lb-trans"><p>Upstart 運營一個信用評估平台，利用人工智能（AI）和機器學習比傳統信用評分更準確地識別良好借款人。投資者首次發現 Upstart 時，其一個吸引人的特點是它實際上並不持有任何它幫助承保的債務；它將貸款出售給機構投資者。對壞債務的低暴露是一個主要優點。</p>
</div><p>The market didn't see it as a positive development when the company began holding some of the loans on its balance sheet, and it has raised several funding rounds to cover the loans even before they're written off. For example, it recently announced a deal with Fortress Investment Group to buy $1.25 billion of consumer loans over the next 15 months.</p>
<div class="lb-trans"><p>當公司開始在其資產負債表上持有部分貸款時，市場並未將其視為積極的發展，並且它在貸款被註銷之前已經進行了幾輪融資。例如，它最近宣佈與 Fortress Investment Group 達成協議，在接下來的 15 個月內購買 12.5 億美元的消費貸款。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg3MDAzMi9wZW9wbGUtc2hha2luZy1oYW5kcy1pbi1hbi1vZmZpY2UuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F870032%2Fpeople-shaking-hands-in-an-office.jpg&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><p>For now, Upstart's role is more of a middleman between the partner banks and credit unions that use its platform to identify good credit and the institutional investors that buy the loans. Becoming a bank would completely change its model from a platform to a lender, but being built on a foundation of AI, it would incorporate its machine learning models into its business to create something it envisions as the future of banking.</p>
<div class="lb-trans"><p>目前，Upstart 的角色更像是合作銀行和信用合作社之間的中介，這些銀行和信用合作社使用其平台來識別良好的信用，而機構投資者則購買這些貸款。成為一家銀行將完全改變其模式，從平台轉變為貸款機構，但基於人工智能的基礎，它將把其機器學習模型融入其業務，創造出它設想的未來銀行。</p>
</div><p>Upstart benefits from the bank charter by gaining access to new and recurring funding sources through deposits. As a bank, it wouldn't need to rely on the wholesale reselling of loans to partnering funders. Deposits are seen as a cheaper way to get funds, since banks typically give a low interest rate on deposit accounts like checking and savings accounts. It would also be able to hold loans on its books for longer and accrue the associated interest charges.</p>
<div class="lb-trans"><p>Upstart 通過獲得銀行特許經營，能夠通過存款獲得新的和持續的融資來源。作為一家銀行，它不需要依賴於向合作資金方批發轉售貸款。存款被視為獲取資金的更便宜方式，因為銀行通常對支票和儲蓄賬户提供低利率。它還將能夠在其賬簿上持有貸款更長時間，並累積相關的利息費用。</p>
</div><h2>Will this change the banking landscape?</h2>
<div class="lb-trans"><h2>這會改變銀行業格局嗎？</h2>
</div><p>Digital banking is becoming a crowded space. All the large banks have a strong digital presence, and disruptors like <strong>SoFi Technologies</strong> and <strong>Chyme</strong> are gaining momentum. <strong>Nu Holdings</strong> recently received a U.S. bank charter and also uses AI algorithms to identify good credit. SoFi has a partnership with Upstart competitor <strong>Pagaya Technologies</strong>, so Upstart's bank looks less like a groundbreaking initiative and more like a way to expand its business and lower its funding costs.</p>
<div class="lb-trans"><p>數字銀行正變得越來越擁擠。所有大型銀行都有強大的數字存在，而像 <strong>SoFi Technologies</strong> 和 <strong>Chyme</strong> 這樣的顛覆者正在獲得動力。<strong>Nu Holdings</strong> 最近獲得了美國銀行特許經營，並且也使用人工智能算法來識別良好的信用。SoFi 與 Upstart 的競爭對手 <strong>Pagaya Technologies</strong> 建立了合作關係，因此 Upstart 的銀行看起來不再像一項開創性的舉措，而更像是擴展其業務和降低融資成本的一種方式。</p>
</div><p>That could still be beneficial, but there could be other complications with revamping its business into something else entirely. Besides the competition and figuring out a way to stand out, it would have to deal with rigorous government regulations.</p>
<div class="lb-trans"><p>這仍然可能是有益的，但將其業務徹底改造為其他東西可能會帶來其他複雜性。除了競爭和找出脱穎而出的方法外，它還必須應對嚴格的政府監管。</p>
</div><p>Upstart stock is down 33% this year, but it's not necessarily time to buy on the dip.</p>
<div class="lb-trans"><p>Upstart 股票今年下跌了 33%，但現在並不一定是買入的時機。</p>
</div><h2>Should you buy stock in Upstart right now?</h2>
<div class="lb-trans"><h2>你現在應該購買 Upstart 的股票嗎？</h2>
</div><p>Before you buy stock in Upstart, consider this:</p>
<div class="lb-trans"><p>在你購買 Upstart 的股票之前，請考慮以下幾點：</p>
</div><p>The <em>Motley Fool Stock Advisor</em> analyst team just identified what they believe are the <strong>10 best stocks</strong> for investors to buy now… and Upstart wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>
<div class="lb-trans"><p><em>Motley Fool Stock Advisor</em> 分析師團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong>，供投資者現在購買……而 Upstart 並不在其中。入選的 10 只股票在未來幾年可能會產生巨大的回報。</p>
</div><p>Consider when <strong>Netflix</strong> made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, <strong>you’d have $483,476</strong>!* Or when <strong>Nvidia</strong> made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, <strong>you’d have $1,362,941</strong>!*</p>
<div class="lb-trans"><p>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 483,476 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 1,362,941 美元</strong>！*</p>
</div><p>Now, it’s worth noting <em>Stock Advisor’s</em> total average return is 998% — a market-crushing outperformance compared to 207% for the S&amp;P 500. <strong>Don't miss the latest top 10 list, available with <em>Stock Advisor</em>, and join an investing community built by individual investors for individual investors.</strong></p>
<div class="lb-trans"><p>現在，值得注意的是 <em>Stock Advisor</em> 的總平均回報率為 998%——與標準普爾 500 的 207% 相比，表現優異。<strong>不要錯過最新的前 10 名單，加入由個人投資者為個人投資者建立的投資社區，獲取 <em>Stock Advisor</em>。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看 10 只股票 »</strong></p>
</div><p><em>*Stock Advisor returns as of May 19, 2026.</em></p>
<div class="lb-trans"><p><em>*Stock Advisor 回報截至 2026 年 5 月 19 日。</em></p>
</div><p><em>Jennifer Saibil has positions in Nu Holdings and SoFi Technologies. The Motley Fool has positions in and recommends Nu Holdings and Upstart. The Motley Fool recommends Pagaya Technologies. The Motley Fool has a disclosure policy.</em></p>
<div class="lb-trans"><p><em>Jennifer Saibil 持有 Nu Holdings 和 SoFi Technologies 的股份。Motley Fool 持有並推薦 Nu Holdings 和 Upstart。Motley Fool 推薦 Pagaya Technologies。Motley Fool 有披露政策。</em></p>
</div><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
<div class="lb-trans"><p>此處表達的觀點和意見是作者的觀點和意見，並不一定反映納斯達克公司的觀點。</p>
</div>

Upstart Just Applied for a National Bank Charter After a Tough Quarter. Could That Change the AI Lending Story?

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標普 500 指數

NVIDIA Corporation

PAGAYA TECHNOLOGIES LTD C/WTS (TO PUR COM)

Upstart 在經歷了艱難的季度後剛剛申請了國家銀行執照。這會改變人工智能貸款的故事嗎？