Fintech earnings and strategic consolidation remain uneven

Affirm delivered 33% revenue growth, 36% GMV growth and strong guidance, supported by merchant, consumer and card expansion, although a tax-valuation release boosted reported net income. PayPal's reported $53.4 billion pursuit by Stripe and Advent ended, while Stripe's potential shift toward an OpenRouter deal above $7 billion highlights competition between payments platforms and AI infrastructure.