Capital One Financial Corporation (NYSE:COF) has announced that it has completed the acquisition of Discover Financial Services for $35.3 billion.

The company entered into a definitive agreement to acquire Discover on February 19, 2024, which received approval from the Board of Governors of the Federal Reserve System in April this year. Stockholders of both Capital One Financial Corporation (NYSE:COF) and Discover voted in favor of the deal on February 18, 2025.Capital One Financial Corporation (COF) Completes $35.3B Acquisition of Discover

A smiling face of a customer as they make a deposit at this company's branch.

Capital One Financial Corporation (NYSE:COF) has expanded its Board of Directors from 12 to 15 members, with three former members of Discover's Board of Directors appointed to serve on COF's Board of Directors.

The company has also announced that all customer accounts and banking relationships remain unchanged at this point. With the acquisition, Capital One Financial Corporation (NYSE:COF) has become the sixth-largest bank in the U.S. by asset size.

While we acknowledge the potential of COF, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than COF and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Cheap Rising Stocks to Buy Right Now and ChatGPT Stock Advice: Top 12 Stock Recommendations.

Disclosure: None.

View Comments