Pagaya (PGY) delivered what CEO and co-founder Gal Krubiner calls an "epic" quarter, fueled by a resilient high-end U.S. consumer and the company's expanding use of A.I.. Krubiner explains how A.I. is helping Pagaya identify new customers and improve lending decisions. He says Pagaya's affluent customer base is benefiting from the tech boom in their own careers, supporting continued spending and strong demand across the platform. Krubiner also argues the market is misreading the macro environment, saying broad credit concerns don't reflect the strength of Pagaya's higher-end customer base.