❌

Reading view

OpenRouter Bidding Sparks Router Frenzy

Even before Stripe entered talks to buy startup OpenRouter for $10 billion, several tech companies were exploring or developing router technology, which helps customers use the most cost-effective AI models. And Stripe’s talks with OpenRouter, which my colleagues last week reported have entered the advanced stage, have set off a frenzy of interest in router startups β€”including from big software companies like Snowflake that have yet to get into the fray.Β 

That’s been the experience of Thibault Jaigu, CEO and co-founder of Requesty, a five-person UK startup whose software routes developers using AI to various models. β€œThe race to optimize is crazy,” said Jaigu, who said at least 25 companies had approached Requesty in the past couple weeks wanting to talk, including about possible investments, acquisition or other partnerships.Β 

By optimize, Jaigu is referring to developers’ demand for tech that helps cut costs by switching to older models from Anthropic, Google and OpenAI for some tasks, or to cheaper open-source alternatives such as China’s Kimi. Need for this technology has risen as AI agents consume more tokens, the units of text or other data that are the basis for pricing many AI services, and as open-source technology has advanced.Β 

  •  

Lyft Reports Strong Demand, Expects Growth Slowdown

Lyft said late Thursday its gross bookings rose 23% in the second quarter to $5.5 billion, beating the 18% to 21% growth the company forecast in May, as its European taxi business and a record share of rides booked through partnerships lifted the average value of each trip. But it forecast a ...

  •  

Airbnb Raises its Forecast as Travel Demand Rebounds

Airbnb said late Thursday that revenue for the three months ended in June rose 17% from the year-ago quarter to $3.6 billion, topping its guidance of 14% to 16%, as the short-term rental company reported higher demand across regions. Net income climbed 27% to $816 million. Shares jumped 9% late ...

  •  
❌