OpenRouter

New Capabilities

Third-party channel for Hy4 access

Tencent released the full version of Hy4 on November 4, adding image understanding and the ability to operate software. The preview had 770 billion total parameters, 49 billion active per token; Tencent did not disclose a revised count for the full release. Hy4 is sold through Tencent Cloud and OpenRouter and runs inside Tencent's coding, office and chat products.

Updated Yesterday

New Capabilities

Publishes the usage rankings at the center of the story

On October 17, DeepSeek published a numbered update to its low-cost V4.1 Flash model. Within a day it handled 3.04 trillion tokens through OpenRouter, a 345% jump.

Updated Nov 3

Money Moves

Acquisition announced; no closing confirmed as of October 19, 2026.

Stripe confirmed in August that it will buy OpenRouter, the AI gateway that routes app requests to more than 400 models, for a reported $7.5 billion to $8 billion. OpenRouter was valued at $1.3 billion in May; its monthly revenue reached about $13 million by August, according to The Information, and as of October 19, 2026, neither company had announced the deal closed.

Updated Oct 19