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Stripe didn’t really buy OpenRouter because of the ‘singularity’

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Stripe confirmed on Wednesday that it was buying OpenRouter. While the company didn’t disclose the deal price, sources told the New York Times that it paid $7.5 billion.

That’s a huge step up from OpenRouter’s $1.3 billion valuation in May. To put that price into context, the founders alone will reportedly receive $1.5 billion from the sale — more than the startup’s entire valuation just three months ago. Investors will get the remaining $6 billion, according to the NYT. Stripe reportedly had to outbid others interested in the fast-growing startup, including Databricks.

But the question is: What does a payments giant want with a startup that routes prompts between different AI models?

The short and funny answer, according to a leaked letter from Stripe’s founders to its investors about the deal, is this: the singularity.

“It’s a fuzzy and perhaps already overworked term but we decided that January 1 marked the beginning of the singularity and we’ve been operating on that basis,” they wrote in the letter, published by Eric Newcomer and verified by TechCrunch.

The singularity is supposed to mean the point at which humans and the tech we’ve created merge to become a new species. This is obviously a tongue-in-cheek reference (as Patrick Collison admitted when using the term at his company’s conference in April). We’re fairly certain Stripe’s founders, the brothers Patrick and John Collison, don’t think humanity started turning into The Borg eight months ago.

But they have referred to the economic uptick that AI is bringing to Stripe. With AI, more companies are being launched and more of them are using Stripe’s offerings. Stripe says that 88% of the Forbes AI 50 are using its products, including OpenAI and Anthropic, as do 100% of Brex’s fastest-growing startups. No one knows how AI and agents will change the economy of the future, but everyone is certain it will change it dramatically.

That still doesn’t explain why Stripe wants a company mostly known for helping developers manage their model usage. Stripe’s founders acknowledged that their customer bases overlap.

“OpenRouter is exceptionally useful for any developer and Stripe is one of the world’s largest developer platforms,” the founders write in their letter. No doubt that just using OpenRouter internally will probably offer significant benefits to Stripe and make it easier to roll out future model-agnostic agentic offerings, too.

It seems as if OpenRouter will continue to operate independently after the deal closes in a few weeks, or so the startup promised in its own blog post, saying that its “product, mission, and current commitments remain unchanged.”

Still, until now, most of Stripe’s large acquisitions have been related to helping people collect and manage incoming cash. Buying OpenRouter looks like a move to the other side of the ledger, too: expense management, beginning with AI expenses.

This acquisition “is Stripe’s deliberate attempt to embed itself into the middle of capital flows in the AI era,” said PitchBook’s research analyst Franco Granda.

It’s joining an unusual assortment of companies also entering token expense management. Databricks developed its own AI gateway. Rippling just launched one focused on employee AI spend and ROI. Ramp just launched one, also for AI expense management. And the list goes on.

For Stripe, buying the granddaddy of popular AI gateways for developers gives it insight into how coders are using AI. But it also gains a lever on AI demand itself. OpenRouter will grant it “some degree of power over suppliers such as the frontier labs themselves, as well as hyperscalers and neoclouds,” Granda said.

It may not be the Borg, but payments plus token expense management and a model router? That’s a lot of power.

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Our supporters attacked during Tinubu's visit – Rivers APC opens up, warns ADC

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The Rivers State chapter of the All Progressives Congress, APC, has alleged that its supporters were attacked and injured during President Bola Tinubu's visit to the state last week.

The party's Publicity Secretary, Chibike Ikenga, disclosed this in a statement issued on Thursday, accusing supporters of the African Democratic Congress, ADC, of carrying out the attack.

According to Ikenga, the victims were attacked at Eleme Junction on November 7, 2026, while travelling to the presidential rally at the Adokiye Amiesimaka Stadium.

The statement read, "Our innocent supporters were attacked around Eleme Junction on their way to joining other party/coalition members to receive President Bola Tinubu and his entourage by members of the ADC, thereby disrupting their attendance and causing various degrees of injuries.

"We wish to warn the ADC and its cohorts to take this as a final warning and desist from further attacks on our supporters.

"We call on security agencies to swing into action to bring the perpetrators of these heinous crimes to justice and serve as a deterrent to others.

"In the event of any further attacks on our supporters, we encourage our members to defend themselves and ensure their protection."

Our supporters attacked during Tinubu’s visit – Rivers APC opens up, warns ADC

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Seplat CEO Calls for Faster Reserves Growth, Stronger Local Capacity

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Seplat Energy Plc has called for accelerated exploration, stronger indigenous capabilities, greater deployment of technology and sustained investment across Nigeria’s energy value chain to unlock the country’s hydrocarbon potential, strengthen energy security and drive long-term economic prosperity.

The Chief Executive Officer of Seplat Energy Plc, Engr. Effiong Okon, made the call in keynote addresses delivered during the 44th Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition (AICE) 2026 in Lagos.

Speaking at the opening  ceremony on the theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” Okon said Nigeria possesses a significant hydrocarbon resource base but must accelerate the conversion of resources and reserves into actual energy production.

“Nigeria is better placed than most. We have a significant resource base and a strategic position in global energy supply. However, a reserve is a promise. A barrel delivered is a result. Our task is to close the distance between the two, and to do it faster,” he said.

He identified exploration, local capability and adaptive technology as three critical levers for growing reserves and production, noting that investments in better seismic imaging, disciplined appraisal and digital technologies can reduce subsurface uncertainty and improve the quality and speed of investment decisions.

Okon highlighted Seplat Energy’s own operations as evidence of the potential for indigenous companies to translate local expertise into increased output. The company has restored 90 idle offshore wells in less than 24 months, while 41 wells restored in 2026 added gross production capacity of approximately 33,700 barrels of oil and 176 million standard cubic feet of gas per day.

He also pointed to the company’s application of machine learning in subsurface evaluation and development planning, as well as successful appraisal programmes at Amukpe and Okporhuru, as examples of combining technology, existing infrastructure and disciplined execution to accelerate resource commercialisation.

Expanding the conversation on the second day of the conference, Okon said unlocking additional resources must be supported by a resilient and interconnected energy value chain if Nigeria is to achieve genuine energy security.

In his pre-panel keynote on the second day of the conference titled, “Energy Security in an Era of Global Disruption: Positioning Nigeria for Resilience, Competitiveness, and Prosperity,”he described energy security as a whole-system challenge encompassing upstream production, pipelines, gas processing, refining and petrochemicals, power generation and transmission, as well as a stable policy environment capable of attracting long-term investment.

“Disruption raises the value of dependable supply, and Nigeria is building the capacity to provide it: first for Nigerians, and then for the world,” the Seplat Energy CEO said.

He noted that renewed investment across Nigeria’s upstream, gas, midstream, refining and power sectors provides an important opportunity to strengthen domestic energy supply while improving the country’s position within the global energy market.

According to Okon, the growing investments demonstrate that Nigeria’s energy system is being progressively rebuilt, but announcements and individual projects will only translate into energy security when the different components of the value chain work effectively together.

He therefore identified connection, consistency and Nigerian delivery as three priorities required to translate investment into sustainable energy security.

“Every project is only as valuable as its link to the next point in the chain: well to plant, plant to pipeline, pipeline to power station, and power station to customer,” he said.

For Seplat Energy, this principle is reflected in the ANOH Gas Plant and its connection to national gas infrastructure. The company achieved first commercial gas through the OB3 pipeline in September, demonstrating the potential of connecting indigenous investment with strategic national infrastructure.

Okon also stressed the importance of regulatory and policy consistency, noting that capital would continue to flow towards jurisdictions where investors have confidence in the rules and projects can move from investment decisions to execution within predictable timelines.

He further called for Nigerian companies, capital, skills and contractors to play an increasingly significant role in the development of the country’s energy resources, ensuring that expansion of the sector creates domestic economic value.

According to Okon, Nigeria’s ultimate objective should go beyond increasing oil and gas production to ensuring that available energy supports industrialisation, employment and wider economic development.

“The objective was never security alone. Energy security is the means. Prosperity is the end: power for homes and factories, feedstock for fertiliser and petrochemicals, jobs, and revenue that stays at home,” he said.

He added that natural gas would remain particularly important to Nigeria’s development, providing energy for electricity generation and industry while strengthening the country’s position as a reliable energy supplier.

“The stronger our own system, the more we can contribute to the world’s energy security. National and global energy security are one project,” Okon stated.

Reaffirming Seplat Energy’s commitment to supporting Nigeria’s energy transition and economic development, the CEO said the sector must now concentrate on execution, collaboration and speed.

“A resource in the ground creates potential, but only energy delivered creates prosperity. Our task is to find more, decide faster and deliver sooner. We must connect the investments being made, sustain the momentum and deliver the energy Nigeria needs, so that the country is secure at home and becomes an increasingly dependable partner to the world,” Okon concluded.

The post Seplat CEO Calls for Faster Reserves Growth, Stronger Local Capacity appeared first on Business Today NG.

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