Missing Studio is an open-source AI studio aimed at providing developers with the infrastructure necessary to swiftly develop and robustly deploy generative AI applications that are ready for production. The studio is designed with emphasis on reliability, high performance and ease of use. It provides a Universal API, dubbed AI Router, which eliminates the need for managing multiple APIs from different LLM providers. This Universal API enables seamless integration with numerous providers such as OpenAI, Anthropic, Cohere, and more. This allows for features like load balancing - efficient distribution of incoming requests among models, automatic fallback to alternative models to improve reliability, and exponential retries. The Studio also emphasizes on 'Semantic Caching' to reduce cost and latency. The Missing Studio AI gateway provides visibility, control and insights about used API applications. It offers observability by keeping track of all requests for monitoring and debugging, including request tracing and usage monitoring. This helps in understanding user, request and model costs - thereby aiding in optimization. Missing Studio also provides safeguards like API key management where primary credentials can be easily renewed or revoked for better access control. It provides a playground for users experimenting with LLMs, offering an easy and user-friendly environment to understand and make decisions for production readiness.