Report: Stripe to buy OpenRouter for more than $7 billion

In short: Bloomberg reports that Stripe has finalized a deal to acquire OpenRouter for more than $7 billion.

What happened

Stripe has finalized a deal to buy OpenRouter, according to a Bloomberg report cited by TechCrunch. The reported price is more than $7 billion.

OpenRouter is a company that helps customers choose and use different AI models for different tasks, based on what they need and what they can afford. An “AI model” is the part of an AI system that produces the answers, like choosing between different engines depending on the trip you are taking.

In May, OpenRouter said it raised $113 million in a Series B funding round, and the company was reportedly valued at $1.3 billion at that time. OpenRouter also said it had 8 million users around the world and offered access to more than 400 models.

OpenRouter CEO Alex Atallah has described the startup as “Stripe for AI.” The idea is that OpenRouter acts like a single front door for many AI services, which can help customers avoid getting stuck with just one provider.

The Wall Street Journal reported last month that Stripe and OpenRouter were in talks. Bloomberg now says those talks resulted in a finalized deal. A Stripe spokesperson told TechCrunch the company does not comment on rumors or speculation.

Why it matters

Stripe is best known for handling online payments, the behind-the-scenes checkout system used by many websites and apps. If Stripe buys OpenRouter, it could make it easier for businesses to add AI features without picking just one AI provider, similar to how Stripe lets a store accept payments without building its own payment system.

Source: TechCrunch AI