SAN FRANCISCO—Stripe is in talks to acquire OpenRouter, a marketplace for artificial intelligence models, in a deal that could value the startup near $10 billion. This valuation marks a substantial increase from OpenRouter's $1.3 billion valuation in a May funding round.
The proposed takeover signals Stripe's expansion beyond its core payments processing business. The fintech giant aims to establish a position in specialized infrastructure for the AI ecosystem.
OpenRouter, founded in 2023, serves as an intermediary layer. The platform enables developers to route traffic across hundreds of proprietary and open-weight AI models.
Enterprises use OpenRouter to compare, access and switch between AI models. The platform helps companies manage operational costs and reduce reliance on single providers such as OpenAI and Anthropic.
Stripe has an existing relationship with OpenRouter. OpenRouter uses Stripe's platform to handle customer transactions.
Negotiations for the acquisition are ongoing, and a final agreement could be announced shortly. The discussions could still dissolve or draw competing suitors, according to people familiar with the matter.
Several major technology firms have also evaluated potential bids for the San Francisco-based platform. This activity reflects rising competition for AI infrastructure assets.
The discussions have sparked interest in other AI router startups. At least 25 companies contacted Requesty, another routing platform, in the past two weeks about investment, acquisition or partnership opportunities.
Jaigu, a representative for Requesty, said the optimization race has reached a level of insanity.
Stripe, valued at $159 billion earlier this year, has shown an active dealmaking appetite. The company seeks new growth areas in advanced technology and digital finance.
Stripe has also pursued a joint acquisition of PayPal Holdings Inc. with private equity firm Advent International. Their recent $53 billion offer for PayPal was rebuffed. The partners are evaluating their next strategic move.
