Stripe Eyes $100 Billion Acquisition of AI Model Marketplace OpenRouter

Stripe, the global leader in internet payment processing, is in talks to acquire OpenRouter, an AI model marketplace that connects developers with over 400 large language models. The deal could be worth around $100 billion, a staggering increase from OpenRouter's valuation of just $1.3 billion two months ago.

OpenRouter's founders, Alex Atallah and Louis Vichy, created the platform in 2023 after leaving their previous venture, NFT marketplace OpenSea, which peaked at a valuation of $133 billion. The company has seen rapid growth, with year-over-year revenue reaching $50 million by April this year, a fivefold increase.

Stripe's interest in OpenRouter is part of its broader strategy to expand into AI infrastructure. Last year, Stripe acquired Metronome, a usage-based pricing platform for AI companies, and has seen significant growth in its free cash flow, increasing 52% to $3.2 billion in 2025.

The acquisition would give Stripe control over the routing layer of AI models, allowing it to dictate which models are used and how they are paid for. This could have significant implications for the development of AI applications, as more companies move towards multi-model architectures and require a centralized platform for model selection and billing.