Payments firm Stripe to buy AI developer platform OpenRouter

Payments giant Stripe has announced plans to acquire AI developer platform OpenRouter, the latest move into the rapidly expanding AI sector. While the exact purchase price remains undisclosed, sources familiar with the transaction suggest it is valued at a significant sum, slightly exceeding $8 billion. The deal exemplifies the growing trend among tech firms to optimize costs amidst escalating AI-related expenses.

Stripe's acquisition of OpenRouter signifies a strategic pivot towards AI, following a year-long initiative to incorporate AI-driven solutions into its offerings. These include token billing, a tool designed to monitor usage of artificial intelligence models. AI marketplace platforms such as OpenRouter facilitate developers' interaction with multiple AI models through a unified interface, offering a valuable testing ground for emerging technologies.

Tokens serve as the primary currency for businesses venturing into AI, and effective utilization of these scarce computational resources is crucial for the industry's economic viability. Stripe's CEO, Patrick Collison, emphasized this point in his recent remarks. OpenRouter, established in 2023, manages over 10 trillion tokens daily across more than 400 AI models for a network of more than 10 million developers and companies.

A recent Deloitte report predicts that companies generating over $500 million in annual revenue will consume more than 10 billion tokens monthly by 2028. OpenRouter has previously secured funding from notable investors, including Menlo Ventures and Andreessen Horowitz. In May, the company closed a $113 million funding round led by Alphabet's independent growth fund, CapitalG.

Stripe, recently valued at $159 billion in a tender offer, is eyeing a strategic acquisition of PayPal for over $53 billion, according to a recent Reuters report. Stripe processed transactions worth $1.9 trillion last year, representing a 34% increase from 2024.