Stripe has finalized the acquisition of OpenRouter for more than $7 billion, according to Bloomberg sources. OpenRouter routes traffic from approximately 8 million developers to over 400 AI models and takes roughly 5% on inference spend. OpenRouter’s annualized revenue was around $50 million in March, putting the deal at approximately 50 times revenue, an exceptionally high multiple. By integrating OpenRouter, Stripe now controls both the routing decision and billing, gaining real-time visibility into enterprise AI spending across all major labs. This acquisition is Stripe’s largest to date, exceeding six times what it paid for Bridge.
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