Portkey review: the gateway is now Prisma AIRS AI Gateway

Portkey is a gateway, guardrails engine, prompt manager, and observability stack in one product, routing to 1,600-plus models across 45-plus providers. Palo Alto Networks completed its acquisition on 29 May 2026 (terms were not disclosed; press reports put the valuation at $120 to $140 million), and Portkey now leads with the banner "Portkey is now PRISMA AIRS AI Gateway". That is the single most important fact for anyone evaluating it today.

By the Continuum team. We build a workbench that runs Claude Code, Codex, and their peers, so the model rates quoted here are the ones our own cost analytics ship with.

The short version

Portkey combines an LLM gateway, 40-plus built-in guardrails, prompt management, and observability behind an OpenAI-compatible API at api.portkey.ai/v1, routing to 1,600-plus models. The open-source gateway is MIT-licensed TypeScript with 12.8k GitHub stars, sub-1ms overhead, and a 122kb footprint; semantic caching, prompt versioning, PII redaction, and the observability dashboards are hosted-only. Hosted pricing is a free Developer tier at 10k logs a month, Production at $49 a month for 100k logs plus $9 per additional 100k, and custom Enterprise. Palo Alto Networks completed its acquisition on 29 May 2026 and shipped Prisma AIRS AI Gateway to general availability on 16 July 2026.

What you need to know
  • Acquired by Palo Alto Networks, completed 29 May 2026. Terms not disclosed.
  • Now branded Prisma AIRS AI Gateway, GA 16 July 2026. The portkey.ai site carries the banner.
  • Open-source gateway: MIT, TypeScript, 12.8k stars, sub-1ms, 122kb. Genuinely good software.
  • Hosted: free 10k logs, Production $49/month for 100k logs, +$9 per additional 100k, 30-day log retention.
  • The differentiator was always guardrails: 40-plus built in, plus custom hooks on Enterprise.
  • Hosted-only: semantic caching, prompt versioning, PII redaction, advanced observability, RBAC, SSO.

Start with the acquisition

Every other Portkey review you will read was written before this, so it goes first.

Verified against Palo Alto Networks press releases and the Portkey homepage banner, August 2026.
EventDate
Acquisition announcedQ2 2026
Acquisition completed29 May 2026
ConsiderationNot disclosed. Press reports put the valuation at $120 to $140 million
Prisma AIRS AI Gateway GA16 July 2026
Portkey homepage banner"Portkey is now PRISMA AIRS AI Gateway"

Palo Alto Networks positions the acquired technology as the AI gateway inside Prisma AIRS, its AI security platform: a control plane that inspects AI traffic at runtime, authenticates agent identity through its Idira technology, and enforces just-in-time tool access. The GA announcement quotes sub-millisecond routing latency and 99.999% availability.

None of that makes the product bad. It makes it a different bet than it was in 2025. If you are a two-person startup picking a gateway for the next three years, weigh that; if you are an enterprise already buying Palo Alto Networks, this probably just got easier to procure.

What Portkey actually does

Four products sold as one, which is the reason it is expensive to replace and the reason people like it.

SurfaceWhat you get
AI GatewayOpenAI-compatible API at api.portkey.ai/v1, 1,600+ models, 45+ providers, retries, fallbacks, load balancing, conditional routing
Guardrails40+ built in for input and output validation, plus custom hooks on Enterprise
Prompt managementTemplates, versioning, and deployment separate from application code
ObservabilityLogs, traces, feedback, cost attribution, dashboards
GovernanceVirtual keys with budget limits, RBAC, MCP gateway management

Latency is honest in the docs: Portkey estimates 20 to 40ms of total added latency versus a direct API call, offset by caching and routing. The open-source gateway claims sub-1ms of its own processing overhead; the 20 to 40ms is the network hop to Portkey's edge workers. Two different numbers measuring two different things, and vendors are rarely this clear about which is which.

Drop-in: the OpenAI SDK with a different base URL.
from openai import OpenAI

client = OpenAI(
    api_key="PORTKEY_API_KEY",
    base_url="https://api.portkey.ai/v1",
    default_headers={
        "x-portkey-provider": "anthropic",
        "x-portkey-virtual-key": "your-virtual-key",
    },
)

Open source versus hosted

The open-source gateway is the strongest part of the story and the reason Portkey survives an acquisition as a technology choice. It is MIT-licensed, written in TypeScript, 12.8k stars, sub-1ms overhead, and a 122kb footprint that runs on edge runtimes.

What the MIT gateway includes and what it does not. Read from the repository, August 2026.
Open source (MIT)Hosted only
Unified API to 1,600+ LLMsYes
Retries, fallbacks, load balancingYes
Guardrails40+ pre-builtCustom hooks, advanced evaluation
CachingSimpleSemantic
Prompt managementNoTemplates and versioning
Observability dashboardsBasicLogs, traces, cost attribution
PII redactionNoYes
RBAC, SSO, IP and geo rulesNoYes
Compliance certificationsn/aSOC 2 Type 2, HIPAA, GDPR, ISO 27001

Pricing

From portkey.ai/pricing.checked aug 2026
TierPriceIncludedNotes
Open SourceFreeSelf-hostedMIT. Universal API, routing, guardrails, load balancing, basic dashboard
Developer$010k recorded logs/monthPortkey states it is not suitable for production
Production$49/month100k recorded logs/month+$9 per additional 100k requests. 30-day log retention, 90-day metrics
EnterpriseCustom10M+ recorded logs/monthSSO, VPC hosting, custom retention, SOC 2 Type 2, HIPAA, GDPR

Two things about that table. First, the meter is logs recorded, not tokens or dollars of inference, so a cheap high-volume workload costs more here than an expensive low-volume one. Exceeding the log limit does not block requests; the logs beyond the limit simply are not recorded, which is a sane degradation but means you can silently lose observability at exactly the moment traffic spikes.

Second, none of this is your model spend. Portkey charges for the control plane; OpenAI, Anthropic, and Google still bill you separately for every token. A $49 line item on top of a $4,000 inference bill is cheap. A $49 line item on top of a $60 inference bill is not.

The candid take

What it is genuinely good at

  • Guardrails. 40-plus built in, applied on input and output, is the most complete out-of-the-box set in the category. Most competitors expect you to bring your own.
  • Breadth in one product. Gateway plus prompts plus observability plus governance means one vendor, one config, one dashboard.
  • The open-source core. MIT, small, fast, and edge-deployable. Not a crippled community edition.
  • Honest latency documentation. Publishing "20 to 40ms added" rather than only the sub-1ms internal figure is unusual.

Where it is weak

  • Strategic uncertainty. A developer-tools company inside a security company. The self-serve tier is not the acquirer's business.
  • Log-based pricing punishes high-volume, low-cost traffic, which is exactly the shape a cheap-model routing strategy produces.
  • 30-day retention on Production is short for anything audit-adjacent.
  • The feature surface is large. Prompt management and virtual keys are real lock-in; plan the exit before you adopt them, not after.
  • Model counts vary across Portkey's own pages (250+, 1,600+). Treat catalogue claims as marketing and verify the specific models you need.

Questions people ask

What is Portkey?

Portkey is an LLM gateway with guardrails, prompt management, and observability in one product. It exposes an OpenAI-compatible API at api.portkey.ai/v1 and routes to 1,600-plus models across 45-plus providers, with retries, fallbacks, load balancing, conditional routing, and virtual keys carrying budget limits. There is an MIT-licensed open-source gateway and a hosted product.

Did Palo Alto Networks acquire Portkey?

Yes. Palo Alto Networks completed the acquisition on 29 May 2026; terms were not disclosed. Portkey's technology is now the AI gateway inside Prisma AIRS, and Prisma AIRS AI Gateway reached general availability on 16 July 2026. The portkey.ai homepage carries the banner "Portkey is now PRISMA AIRS AI Gateway".

How much does Portkey cost?

The open-source gateway is free to self-host under MIT. Hosted has a free Developer tier with 10,000 recorded logs a month, a Production tier at $49 a month with 100,000 recorded logs and $9 per additional 100,000 requests, and custom Enterprise pricing starting from 10 million logs a month. Production retains logs for 30 days and metrics for 90. Model spend is separate and billed by your providers.

Is Portkey open source?

The gateway is. Portkey-AI/gateway is MIT-licensed TypeScript with 12.8k stars, sub-1ms processing overhead, and a 122kb footprint, and it includes the unified API, retries, fallbacks, load balancing, and 40-plus guardrails. Semantic caching, prompt templates and versioning, PII redaction, advanced observability, RBAC, and SSO are hosted-only.

Is Portkey worth it?

For an application team that wants gateway, guardrails, prompt management, and observability from one vendor, yes: $49 a month against a four-figure inference bill is trivial and the guardrail set is the best out of the box. Weigh two things against it. Log-count pricing penalises high-volume cheap-model traffic, and the roadmap is now set inside a security company where the self-serve tier is not the business.

What should I use instead of Portkey?

It depends on the job. LiteLLM or Bifrost if you want a free self-hosted gateway. OpenRouter or Vercel AI Gateway if you want one key and one wallet with no infrastructure. Helicone if observability is the real requirement. TrueFoundry or Kong for enterprise Kubernetes. Continuum if the spend you cannot see is coding agents on developer laptops.

Sources

Every figure above was read from these pages on August 2026. Vendors reprice without notice; if you find a stale number, tell us.

  1. Portkey pricing tier prices, log volumes, retention, the Prisma AIRS banner
  2. Portkey homepage "Portkey is now PRISMA AIRS AI Gateway" banner, 1,600+ LLMs
  3. Portkey-AI/gateway on GitHub MIT licence, 12.8k stars, OSS vs hosted feature split
  4. Palo Alto Networks completes acquisition of Portkey completion 29 May 2026; terms not disclosed
  5. Prisma AIRS AI Gateway general availability GA 16 July 2026, feature scope
  6. What is Portkey (docs) base URL, added-latency estimate, compliance
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