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no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY
Stripe bought Open Router to maintain a foothold in the AI token economy as Anthropic and OpenAI build their own billing, fraud detection, and treasury systems, potentially disintermediating Stripe from AI-related payment volumes.
Open Router sits at the center of the open-source AI business with rapidly growing usage, making it a strategic asset for Stripe to capture AI-driven payment flows as labs build proprietary billing stacks.
OpenAI is nearing 1B weekly active users but only ~50M paying users, and with consumer growth slowing, the company is pivoting to enterprise sales (Codex, ChatGPT Work) where it faces stiff competition from Anthropic.