Stripe is reportedly finalizing a deal to acquire OpenRouter, a platform that sells developers access to more than 400 artificial intelligence models, for more than $7 billion.
A single point of entry for multiple models
OpenRouter’s core product functions as a single door into various AI services. A customer writes to the platform once, then swaps between providers like OpenAI Group PBC, Anthropic PBC, or cheaper open-weight alternatives without touching the code. The router selects the best option based on cost, speed, or uptime.
They take a cut of about 5% of the inference spend passing through it. OpenRouter claims roughly 8 million users and recently reported that weekly throughput hit 25 trillion tokens by May, a figure five times higher than six months earlier.
Financials and valuation
Revenue is a much smaller number than the transaction value. Annualized revenue is about $50 million as of March, compared to roughly $19 million when 2025 closed. The company projects it will pass a quadrillion tokens before the end of the year.
OpenRouter raised a $113 million Series B on May 26 led by Alphabet Inc.’s growth fund CapitalG LP, with Andreessen Horowitz and Menlo Ventures participating. The round was conducted at a $1.3 billion valuation, more than double the figure from a year prior.
The acquisition fits into a broader pattern of infrastructure purchases by Stripe over the last two years. Stripe paid about $1.1 billion for stablecoin infrastructure startup Bridge Network Inc. in a deal that closed in February 2025 and bought crypto wallet provider Privy Inc. that June. A February tender offer valued Stripe at $159 billion.
Stripe has worked closely with OpenRouter since at least January, when the two announced a token-billing integration that meters model usage and prices it automatically. Stripe co-authored the Agentic Commerce Protocol with OpenAI. OpenRouter serves as Stripe’s payments provider and sits on data about which models developers choose and at what price, spanning closed and open-weight providers.
Despite the reported agreement, Stripe has not commented on the specific price or terms. The company told journalists it does not comment on “rumors or speculation.” OpenRouter was founded in 2023 by Alex Atallah and Louis Vichy. Atallah has described the company as “Stripe for AI,” arguing that a single access point across model providers removes integration work and blocks lock-in.
It is a significant move for Stripe.
They have made several notable purchases in the past. The acquisition of OpenRouter is the latest in a series of infrastructure purchases by Stripe. OpenRouter’s platform will likely be integrated into Stripe’s existing services.