Stripe’s secondary-market valuation has climbed to roughly $180–196 billion in early October 2026, up from the $159 billion February tender offer, as investors price in its positioning in AI agentic commerce and stablecoin infrastructure. Recent acquisitions, including the $7.5 billion OpenRouter deal and Parafin’s embedded-lending platform, have reinforced growth narratives around revenue expansion beyond core payments processing, with 2025 payment volume reported near $1.9 trillion. Secondary platforms such as Forge and Private Market View show share prices implying continued appreciation, though official marks remain tied to periodic tenders rather than daily trading. With resolution on October 31 only weeks away, near-term catalysts are limited, and any move in implied valuation will likely hinge on incremental secondary prints or broader risk sentiment rather than new fundamental releases.