OpenRouter Stock Price, Valuation & IPO
Private company — OpenRouter is privately held. Its shares are not listed on any public exchange and can only be accessed through private secondary transactions.
Status source: AXEVIL investment team
$75.36 per share (AXEVIL consensus estimate)
Source: AXEVIL consensus of recent secondary transactions · as of 27 October 2026
Last round valuation: $1.3B
Source: B, May 2026, post-money
Total raised: ~$168M
Data last updated: 27 October 2026
About OpenRouter
American router platform and marketplace for accessing many language models through a single API, founded by OpenSea co-founder Alex Atallah. In May 2026 the company raised $113M led by CapitalG at a $1.3B valuation, more than doubling its value in a year. Investors also include NVIDIA, ServiceNow, Snowflake, and Databricks.
OpenRouter is a single access point to more than 400 AI models. One call to the platform replaces a dozen separate contracts with OpenAI, Anthropic, Google, and xAI. Founded in 2023 in New York. The company takes roughly 5% of the compute spend flowing through it, and volume through the platform has passed 1 quadrillion tokens a year: weekly flow rose from 5 trillion to 25 trillion tokens over the six months to May 2026. Enterprise spending on model calls grew from $3.5B to $8.4B in half a year. Current valuation is $1.3B from a Series B (May 2026); roughly $168M raised across three rounds.
- Sector: Artificial Intelligence
- Headquarters: New York, USA
- Founded: 2023
Key highlights
- Volume grew fivefold in half a year, while the valuation was fixed in May. Weekly flow rose from 5 trillion to 25 trillion tokens over the six months to May 2026, and the $1.3B round closed on May 26, 2026 — the denominator of the multiple was already growing after the deal.
- The multi-model future has arrived, and investors' money confirms it. Anthropic reached 32% of enterprise workloads, OpenAI fell from 50% to 25%, and Google took 20% — and while the leader changes every quarter, tying a product to one provider remains a risk, and a gateway a way to remove it.
- The industry's budgets have moved from training to running models, exactly where the fee sits. Enterprise spending on model calls grew from $3.5B to $8.4B in half a year, and OpenRouter's fee is taken from precisely that part of the budget, so it grows along with it without new sales.
- The cap table now includes those who sell to the same customers. Besides CapitalG, the May 2026 round included the venture arms of Nvidia, ServiceNow, Snowflake, Databricks, and MongoDB, each with an enterprise base that needs a gateway to models.
Funding rounds
| Date | Round | Price / share | Post-money valuation |
|---|---|---|---|
| 26 May 2026 | B | $15.72 | $1.3B |
| 25 June 2025 | A | $7.16 | $500M |
| 18 December 2024 | Seed | $0.76 | $59M |
Frequently asked questions
How can I buy OpenRouter stock before the IPO?
Not on a public exchange — OpenRouter is privately held. Shares change hands only in private secondary transactions. AXEVIL structures those as dedicated US special purpose vehicles for accredited investors, subject to availability and to the rules of your jurisdiction.
What is the OpenRouter stock price?
A private company has no single official share price. AXEVIL's consensus estimate is $75.36 per share as of 27 October 2026. Its most recent round implied a post-money valuation of $1.3B (May 2026).
What is OpenRouter's valuation (net worth)?
OpenRouter's most recent funding round valued the company at $1.3B post-money (May 2026) — the latest primary-market measure of what the company is worth. Secondary trades can price its shares above or below that round.
When will OpenRouter IPO?
No listing has been announced. AXEVIL does not forecast IPO dates — this page states what has actually been filed or reported, with the date it was last checked.
Is OpenRouter publicly traded?
No. OpenRouter is a private company and its shares are not listed on any public exchange.
Does OpenRouter have a stock symbol?
No. OpenRouter has no ticker symbol because its shares are not listed on any exchange; a symbol is assigned only at an IPO or direct listing.
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Risk disclosure
Nothing on this page is an offer to sell or a solicitation to buy any security, and it is not investment advice. Valuations and share prices shown here are AXEVIL estimates built from primary sources — filings, announced rounds and completed secondary transactions — not quoted market prices, and they can be revised. Private-company shares are illiquid, may be impossible to sell, and the entire amount invested can be lost. Availability depends on your jurisdiction and on accredited-investor status.