20VC: Will OpenRouter Sell for $10BN to Stripe? | Why Chinese Open Models Are Beating America—and What Happens Next | Why Enterprises Are More Fearful of Anthropic and OpenAI Than China | Is the Routing Layer Becoming a Commodity with Alex Atallah

It's gonna be like the biggest biggest market in tech ever. A lot of companies are making routers because it's fashionable. The Model Labs have several incentives to go after you eventually. In July, we launched 70 models. About one model every ten hours. America is very, very behind still. But GLM 5.2 was a really big, big step for open weight models. There are reports that you are selling to Stripe for $10,000,000,000. Is that gonna happen? This is 20 VC with me, Harry Stebbings. Now the only thing that I really care about anymore is providing the best, most relevant interviews at the right time to you. So today we have Alex Atala, co founder and CEO of OpenRooter, the gateway to the world of LLMs. They reportedly have had offers from Stripe for $10,000,000,000. They've raised at a valuation of over 1,000,000,000.5. They are the market leader and this interview could not come at a more prescient time. It'll be very interesting to see whether the company chooses to stay private or sell to Stripe. We shall see. But this interview was recorded before, so we will check back in a couple of weeks. This was an incredible show, and it was an awesome to have Alice in the studio. But before we dive into the show today, founders face a different set of challenges at every stage of growth. For Sid Sheit, cofounder and CEO of Dematrice, JPMorgan delivered the guidance and expertise to help navigate what came next. He credits JPMorgan's high touch approach with supporting Demetrius as it grew and expanded internationally. Whether you're in the early days or expanding into new markets, JPMorgan helps startups navigate complexity with real confidence, offering personalized guidance and deep sector expertise. Find out how JPMorgan helps founders at jpmorgan.com forward slash grow without limits. JPMorgan is the bank of the innovation economy. While JPMorgan supports growth, Corgi protects it. My word, what an arresting first line. Get your ass covered with Corgi insurance and I'll tell you why. If you're running a business right now, you already know this pain all too well. Getting insurance, it's really slow, it's confusing, and my word, it's full of paperwork. Well, that's exactly why Corgi is here to change the game. Corgi is the first and only insurance carrier designed specifically for tech companies, allowing you to get covered in minutes instead of days. Corgi provides essential coverages for all growth stages such as DNO, E and O liability, cyber, commercial, general liability, and more. Get your ass covered. I love the way we say ass with Corgi Insurance alongside thousands of other startups at corgi.com/20vc today. That's corgi.com/20vc. You won't regret it. While Corgi covers risk, Flex gives you room to move. Business owners run their whole financial life on Flex. One platform from business revenue to their personal spend, float every purchase for sixty days, tap capital that grows with your revenue, and pay vendors in a 170 …