American Express announced the acquisition of AI-focused expense management startup Hypercard on April 16, 2026. The companies expect the transaction to close in the second quarter of 2026. Financial terms of the deal remain undisclosed.
Founded in 2022, Hypercard counts OpenAI CEO Sam Altman among its primary financial backers. The startup develops AI agents that automate expense categorization, reporting, and compliance checks. This acquisition builds on a 2024 partnership where the two companies launched a joint credit card.
American Express intends to use the acquisition to enhance its artificial intelligence expertise for commercial clients. Shares of American Express rose marginally following the announcement. The market movement suggests a mildly positive reception to the strategic technological expansion.