American Express Acquires AI Expense Management Company Backed by Sam Altman

Published: 2026-04-16 11:41:35 ET AXP

Published on 04/16/2026 at 11:41 am EDT

By Christopher Kuo

American Express is buying Hyper, an expense management company backed by OpenAI co-founder Sam Altman that utilizes artificial intelligence agents.

American Express said Hyper's experts will help the credit card company incorporate agentic AI into its operations and services, including its expensive management platform launching later this year. AI agents can not only chat with users but also execute tasks autonomously.

In 2024, American Express and Hyper partnered to launch the Hypercard Rewards American Express card with AI-powered expense agents.

In March, American Express said it was developing a new mobile app for corporate card members that will use AI to automate employee expenses. "AI will play a central role in how we deliver better payment and spend management experiences for our business customers," Raymond Joabar, Group President of Global Commercial Services at American Express, said in a press release.

Write to Christopher Kuo at [email protected]

(END) Dow Jones Newswires

04-16-26 1141ET