Stripe agreed to pay $7 billion for a company that routes API calls between AI models. It was worth $1.3 billion three months ago. Estimated revenue multiple: 50x.

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What each receipt proves, and what would change our mind.

• Every receipt with its source, date and stance, plus what it proves
• The figures table, each number traced to the receipt that states it
• The trick behind the claim, explained, with the guide to spotting it
• What would change our verdict
• Our call on the record, with its due date

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