Payment processing company Stripe confirmed its acquisition of AI model routing startup OpenRouter for over $8 billion and declared January 1 the "beginning of the singularity" in a letter to investors explaining its decision not to pursue an IPO. The company reported 41% revenue growth in the first half of the year.
Stripe agreed to acquire AI model router startup OpenRouter for a reported $7.5 billion, while corporate expense platform Ramp launched its own competing routing service called Router. Snowflake also announced dynamic model routing capabilities within its Cortex AI Gateway.
Stripe agreed to acquire AI model routing service OpenRouter for over $8 billion as competition intensifies in the AI infrastructure space. OpenAI responded by cutting GPT-5.6 Sol pricing by more than 20%, while AT&T and Ramp adopted routing technologies to reduce AI costs.
Payments giant Stripe has agreed to buy OpenRouter, a fast-growing marketplace that routes prompts between different AI models, in a deal valued at more than $8 billion in cash and stock. The acquisition marks Stripe's major push into AI infrastructure.
Stripe agreed to acquire AI model routing service OpenRouter for over $8 billion as competition intensifies in the space. OpenAI responded by cutting GPT-5.6 Sol pricing by more than 20%, while AT&T and Ramp adopt routing technologies to reduce AI costs.
Corporate finance platform Ramp has opened stablecoin accounts and payment capabilities to business clients, leveraging Stripe's stablecoin infrastructure with Bridge handling dollar conversions and Privy managing balance storage.
Payment processor Stripe and private equity firm Advent International have jointly offered to acquire PayPal Holdings for $60.50 per share, valuing the deal at approximately $53 billion. PayPal's stock surged 14-15% following the news.
A consortium of over 140 major financial and technology companies including Visa, Stripe, Mastercard, BlackRock, Coinbase, and Bank of New York Mellon launched Open USD (OUSD), a new stablecoin that shares reserve earnings with participants. The announcement caused Circle Internet Group shares to tumble 15% as the initiative directly challenges existing stablecoin leaders.
A nonprofit called Intercept has been established with $500 million in funding from tech companies including Stripe, Anthropic, and OpenAI to develop solutions against respiratory pathogens like the common cold and flu.
