OpenRouter raises $113 million at a $1.3 billion valuation as weekly traffic hits 25 trillion tokens
The funding will build multi-model infrastructure for autonomous agents.
OpenRouter is now serving 1.5 quadrillion tokens/yr!
That token run rate is: — 15-30% of Google APIs — 20-40% of OpenAI — >50% of Microsoft Azure Foundry
That's 15x larger than when we invested a year ago.
Revenue has already doubled since this $1.3B round was done in Feb!
NYT announcement: https://www.nytimes.com/2026/05/26/business/dealbook/openrouter-ai-models-fundraising.html
Menlo blog post: https://menlovc.com/perspective/openrouter-now-processes-more-than-a-quadrillion-tokens-a-year/
Deedy@deedydasOpenRouter is now serving 1.5 quadrillion tokens/yr! That token run rate is: — 15-30% of Google APIs — 20-40% of OpenAI — >50% of Microsoft Azure Foundry That's 15x larger than when we invested a year ago. Revenue has already doubled since this $1.3B round was done in Feb!
Methodology behind comparison:
Google / OpenAI report in per minute, which isn't directly comparable (and is usually a peak of a sinusoid number) whereas OR is based on per week. There ofc is double counting because OR serves GPT and Gemini.
Google token run rate: https://blog.google/innovation-and-ai/sundar-pichai-io-2026/ [19B/min x 60 x 24 x 365 is upper bound 10Qa, lower bound say 5Qa] OpenAI token run rate: https://openai.com/index/accelerating-the-next-phase-ai/ [15B/min x 60 x 24 x 365 is upper bound 7.8Qa, lower bound say 4Qa] Microsoft Azure Foundry: https://www.crn.com/news/ai/2026/microsoft-q2-earnings-ceo-nadella-defends-ai-investments (recently reported 250 customers over 1T, not total tokens) https://www.microsoft.com/en-us/investor/events/fy-2025/earnings-fy-2025-q3 (was 400T growing 5x 1yr ago, assuming the same growth)
Qa = quadrillionhttps://menlovc.com/perspective/openrouter-now-processes-more-than-a-quadrillion-tokens-a-year/
Deedy@deedydasNYT announcement: https://www.nytimes.com/2026/05/26/business/dealbook/openrouter-ai-models-fundraising.html Menlo blog post: https://menlovc.com/perspective/openrouter-now-processes-more-than-a-quadrillion-tokens-a-year/
OpenRouter announcement:
OpenRouter@OpenRouterToday we’re announcing our $113M Series B led by @CapitalGVC. Over the last 6 months, weekly volume on OpenRouter grew from 5T to 25T tokens as AI rapidly shifts from experimentation into production. We’re excited for what comes next.
#1182Greg Kamradt@GREGKAMRADTSurprised open router is only at $1.3B given the wild rounds going on.
They have more of a business (both present and future) than ~99% of AI companies.