Stripe acquires AI model router OpenRouter for over $7 billion

Stripe Inc. has reportedly finalized a deal to acquire AI model routing startup OpenRouter Inc. for more than $7 billion. OpenRouter, which allows developers to seamlessly switch between over 400 AI models, was valued at $1.3 billion during a $113 million Series B round in May 2026. The acquisition represents a massive premium for the startup, which reached an annualized revenue of $50 million in March 2026, and marks Stripe's latest major infrastructure play following its $1.1 billion acquisition of Bridge Network in 2025.

Stripe acquisition of OpenRouter

• ▪Stripe Inc. has finalized an agreement to acquire OpenRouter Inc. for more than $7 billion, according to reports from Bloomberg.
• ▪Stripe Inc. declined to confirm or deny the acquisition reports, stating to TechCrunch that it does not comment on rumors or speculation.

OpenRouter business model

• ▪OpenRouter Inc. charges a cut of approximately 5% on the inference spend passing through its routing platform.
• ▪OpenRouter Inc. was founded in 2023 by Alex Atallah and Louis Vichy, and has accumulated roughly 8 million users.
• ▪OpenRouter Inc. provides developers with a single integration point to access and switch between more than 400 artificial intelligence models based on cost, speed, or availability.

OpenRouter revenue growth metrics

• ▪OpenRouter Inc. announced a $113 million Series B funding round on May 26, 2026, which valued the company at $1.3 billion.
• ▪OpenRouter Inc. reached an annualized revenue of about $50 million as of March 2026, up from approximately $19 million at the end of 2025.
• ▪The Series B funding round for OpenRouter Inc. was led by Alphabet Inc.'s CapitalG LP, with participation from Andreessen Horowitz, Menlo Ventures, and Sequoia.

AI model routing market

• ▪Stripe Inc. and OpenAI co-authored the Agentic Commerce Protocol and established a token-billing integration with OpenRouter Inc. in January 2026.
• ▪OpenRouter Inc. competes with open-source routing projects such as LiteLLM and routing features integrated directly into major cloud provider model services.

Stripe infrastructure acquisition strategy

• ▪Stripe Inc. acquired stablecoin infrastructure startup Bridge Network Inc. for approximately $1.1 billion in a deal that closed in February 2025.
• ▪Stripe Inc. acquired crypto wallet provider Privy Inc. in June 2025 and joined Advent International L.P. in a $53 billion bid to take PayPal Holdings Inc. private in July 2025.

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