Gate News message, April 17 — American Express will acquire Hyper, an AI-powered expense management startup founded in 2022 and backed by OpenAI CEO Sam Altman, to enhance automation tools for its commercial clients. The transaction is expected to close in Q2 2026.
Hyper’s platform uses AI agents to categorize, track, and report business expenses, enabling employees to file expenses through conversational interfaces rather than traditional forms. The two companies previously partnered in 2024 to launch a co-branded “Hypercard Rewards American Express” card that integrated AI-powered expense management into the card program.
The acquisition reflects American Express’s broader expansion of its commercial card business, which includes the recent launch of a card with a $295 annual fee last month and plans for additional card products later this year.
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