NEW YORK — Stripe has finalized an agreement to acquire OpenRouter for more than $7 billion. The final acquisition price could change.

OpenRouter helps companies switch between artificial intelligence models. A Stripe spokesperson said the firm does not comment on rumors or speculation. OpenRouter declined to comment.

Alex Atallah is the Chief Executive Officer of OpenRouter. Atallah said OpenRouter is the AI equivalent of Stripe. He previously co-founded OpenSea. Atallah stepped down from OpenSea in July 2022.

OpenRouter has raised more than $150 million in total capital. In May 2025, OpenRouter raised $12.5 million in a seed round led by Andreessen Horowitz. This was followed by a $28 million Series A round led by Menlo Ventures.

OpenRouter raised a $113 million Series B at a reported $1.3 billion valuation. According to reports, CapitalG led the round alongside Andreessen Horowitz and Menlo Ventures in May 2026. CapitalG is one of Alphabet Inc.’s venture arms. OpenRouter's investors include CapitalG, Andreessen Horowitz, Menlo Ventures, and Sequoia.

Stripe is a payments processing firm. Stripe and OpenRouter had a pre-existing partnership where OpenRouter used Stripe for payments. This included a token-billing integration announced in January 2026.

OpenRouter’s revenue was approximately $50 million annually as of March 2026, compared to $19 million in 2025. OpenRouter's weekly throughput increased from 5 trillion tokens in November 2025 to 25 trillion tokens by May 2026. OpenRouter has been integrated into VSCode, allowing developers to access multiple AI models directly within their coding environment. The Wall Street Journal previously reported Stripe was in talks to buy OpenRouter for about $10 billion.

Why It Matters

The acquisition represents a strategic consolidation of AI infrastructure. Industry observation likens OpenRouter's role in AI to Stripe's role in payments. OpenRouter data shows the company demonstrated rapid growth in token processing and revenue leading up to the acquisition.

Timeline

Alex Atallah stepped down from OpenSea in July 2022. OpenRouter was founded in 2023. OpenRouter serves 8 million developers as of May 2026. OpenRouter provides access to more than 400 AI models as of May 2026.

What's New

Stripe Inc. has finalized an agreement to acquire OpenRouter Inc., a startup that helps companies switch between artificial intelligence models, for more than $7 billion, according to people familiar with the matter. Alex Atallah, CEO of OpenRouter, previously co-founded OpenSea, an NFT marketplace that raised over $400 million in capital but saw its usage decline significantly. OpenRouter raised a $113 million Series B at a reported $1.3 billion valuation.

Stripe and OpenRouter had a pre-existing partnership where OpenRouter used Stripe for payments, including a token-billing integration announced in January 2026. OpenRouter's investors include CapitalG, Andreessen Horowitz, Menlo Ventures, and Sequoia. In May 2026, OpenRouter raised a $113 million Series B round at a $1.3 billion valuation, with CapitalG leading the round alongside Andreessen Horowitz and Menlo Ventures. CapitalG, an Alphabet venture fund, led OpenRouter’s $113 million Series B round in May 2026, valuing the company at $1.3 billion. OpenRouter's weekly throughput increased from 5 trillion tokens in November 2025 to 25 trillion tokens by May 2026, indicating rapid growth in model usage.

How Sources Differ

Sources differ on details regarding Alex Atallah's previous founding of OpenSea. One source states he previously co-founded OpenSea, an NFT marketplace that raised over $400 million in capital but saw its usage decline significantly, while another simply states he previously co-founded OpenSea. Reports also vary on the specifics of the Stripe and OpenRouter agreement. One source states Stripe Inc. has finalized an agreement to acquire OpenRouter Inc. a startup that helps companies switch between artificial intelligence models, for more than $7 billion, according to people familiar with the matter, while others state only that Stripe has finalized an agreement to acquire OpenRouter. Descriptions of OpenRouter's function also vary, with one source specifying it helps companies switch between artificial intelligence models and others stating it generally helps companies switch between artificial intelligence models. Investor lists also show variation, with some sources listing CapitalG, Andreessen Horowitz, Menlo Ventures, and Sequoia, while others specify CapitalG led the May 2026 round alongside Andreessen Horowitz and Menlo Ventures. Funding history details also differ, with some sources noting the May 2025 seed round led by Andreessen Horowitz and Series A led by Menlo Ventures, while others focus on the broader investor list.