Several other fintech companies have been hit hard in the current market, including major players such as PayPal (NASDAQ:PYPL) and Affirm (NASDAQ:AFRM), each of which has seen their share price fall more than 60% year to date. Upstart, which operates an artificial intelligence lending platform, issued second-quarter financial results that fell far short of its previous forecasts, putting downward pressure on its share price. The San Mateo, California-based company blamed the poor results on inflation and growing fears of an economic recession.