Here are some things that are abundantly clear to me.

1.) LLMs are useful for programming

2.) Open models are excellent and will continue to improve

3.) Economies of scale and ease of access mean self hosting is out of the question for a large number of users

This means that even if the largest labs are not worth trillions and a large amount of the data center build out is not as valuable as the builders project and GPU/RAM prices plummet, it will not matter at all for this business. People will want to buy cheap open source tokens from a centralized trusted provider.

$7 billion for a business with little overhead that is already within their core competency and has strategic growth potential seems like a very good deal.

depends what the tulips are. tokens? private growth stage shares?

openrouter is involved with a lot of scammy crypto personalities. maybe they are the tulips people have been manic about for too long. maybe the collisons are the tulips.