capital · May 17, 2026
Alphabet Fund In Talks to Lead OpenRouter Investment at $1.3 Billion Valuation
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Alphabet Fund entered talks to lead a $120 million investment in OpenRouter at a $1.3 billion valuation in April 2026. OpenRouter lets AI app developers choose from hundreds of models through one API. The round would more than double the valuation from the prior round. OpenRouter previously raised $40 million at a $500 million valuation in June 2025.
Spend governor blocked model creation: provider_circuit_open (lane=dev, provider=together)