Opening Bell: 8.20.26

The US national debt now stands at $40 trillion [AP]The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump’s almost-6-month-old war in Iran to lowering the cost of gas and groceries.Stripe to buy OpenRouter as fintech expands deeper into AI [CNBC]The price tag is about $7.5 billion, with $1.5 billion allocated to OpenRouter’s founders. Less than three months ago OpenRouter raised $113 million at a valuation of about $1.3 billion…. Stripe has become one of the most valuable startups in the world, with a valuation of close to $160 billion as of earlier this year, thanks mostly to its online payment technology that’s become ubiquitous in many markets. Last year it bolstered its exposure to crypto with the $1.1 billion acquisition of stablecoin platform Bridge.Crypto Stocks Continue to Surge After Upbeat White House Meeting [WSJ]In a White House meeting with industry executives, Trump urged Congress to pass the Clarity Act, which is currently stalled amid disagreement over ethics language.California Draws More Startup Investment Than All Other 49 States Combined [WSJ via Yahoo!]Companies based in the Golden State have drawn around $366 billion of venture capital since the beginning of the year, according to data provider PitchBook. That's more than three times the amount of venture funding that has gone into the other 49 states combined, and nearly double California's previous record, set in 2025. New York state ranks a distant second in venture-capital investment, with $27 billion in deals announced so far this year. Two Sigma Lost a ‘Major Investor’ Over Co-Founders’ Feud [Bloomberg][John] Overdeck described the fallout from the men’s clash Wednesday while he was testifying concerning another major split in his life — his divorce from wife Laura Overdeck…. “If the investors become aware that there are disclosable disputes or arbitration among the partners, it gives them reason to question whether the company will be able to conduct itself in the way they’ve expected it to,” Overdeck said on the stand. “I am concerned large investors of the company would consider reducing their investments with the company.”NJ billionaire had cops called on him by girlfriend while fighting $6.2 billion divorce case: report [N.Y. Post]Cops were summoned at least eight times to the 6,000-square-foot estate in Short Hills that the Two Sigma founder once shared with his estranged wife, Laura Overdeck…. Many of the 911 calls to the home — which took place between April 2023 and June 2024 — involve an unnamed paramour whom John Overdeck told cops he was seeing, the report states.Charges were never filed in any of the incidents….