Stripe Hit $6.8B Revenue at 33% Growth — Its Fastest Since 2021 — Because It Processes for OpenAI and Anthropic

SaaStr·high signal

The Information disclosed Stripe's 2025 numbers this week and SaaStr broke them down July 23: $6.8B revenue up 33%, $2B in Q1 2026 alone, $1.9T total payment volume up 34%, and a 0.36% net take rate. The growth re-acceleration at that scale is attributed largely to processing payments for AI companies including OpenAI and Anthropic — meaning the AI boom's revenue is flowing through Stripe's rails as a second-order effect. Free cash flow hit $3.2B (up 52%) for a 47% FCF margin, making Stripe a 'Rule of 80' company at $159B valuation, or 23x revenue.