Stripe, the US-based payments company, finalized an agreement to buy OpenRouter for more than US$7 billion, according to people familiar with the matter.

The final price could still change.

Founded in 2023, New York-based OpenRouter helps companies switch between AI models.

In May, the startup said it served 8 million developers using more than 400 models.

It also offers backup access if a model fails and tools that show which models are most popular.

Before the reported sale, OpenRouter raised a US$113 million series B round at a reported valuation of about US$1.3 billion, after earlier backing from CapitalG, Andreessen Horowitz, Menlo Ventures, and Sequoia.

The market for model-routing services includes rivals such as Portkey, Martian, and Not Diamond, as well as bundled offerings from cloud providers.

The acquisition could also strengthen Stripe’s position in AI alongside its work using AI in checkout personalisation and fraud management.

🔗 Source: Bloomberg

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