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Home/Credit & Lending/AMEX BENEFITS

American Express acquires Sam Altman-backed Hyper to automate corporate expense workflows

ML

Morgan Langley

Amex benefits · Apr 17, 2026

American Express acquires Sam Altman-backed Hyper to automate corporate expense workflows

Source: DojiDoji Data Terminal

Commercial clients of American Express will be able to automate expense processing and compliance checks through a new expense management platform launching later this year. The platform is the result of American Express's agreement to acquire Hyper, an AI-driven expense management startup founded in 2022 and backed by OpenAI CEO Sam Altman.

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American Express Shifts Miami Grand Prix Presence to Trackside Access

Platinum Card Members can now reserve premium viewing opportunities on the start-finish straight at the Amex Trackside Lounge. This access is available for one reservation per day, including during race sessions. The shift comes as American Express makes its first on-track appearance at the Miami Grand Prix. As a partner of Formula 1 and F1 Academy, the brand has established three distinct on-site footprints. The Amex Racing Club in the F1 Fan Zone provides Card Members with Amex Race Radios and a second-floor recharge space featuring massage chairs and a beauty bar. Inside Hard Rock Stadium, the Amex Lounge provides air-conditioned space and food and beverage. Reservations for the stadium lounge are released daily at 9:30 AM through Resy for one-hour periods. Outside the circuit, Card Members receive presale access to tickets for Carbone Beach.

Hyper specializes in the deployment of AI agents that auto-categorize and file expenses, verify them against budgets and company policies, and send reminders for submissions. The two companies had previously collaborated in 2024 to launch the Hypercard Rewards American Express card using the Agile Partner Platform.

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Downgrading Your Amex Platinum Can Save You $800 — But Switching to Chase Could Earn You $750

By switching from the American Express Platinum Card® to the Chase Sapphire Preferred® Card, a cardholder can save $800 on annual fees and gain at least $750 in travel value. The Platinum Card’s $895 annual fee demands heavy use of its travel credits and perks to justify the cost. For those not maximizing those benefits, the card becomes a financial drain. Downgrading to the Amex Gold Card cuts the fee to $325 — a savings of $570 — and retains strong dining and grocery rewards. Moving to the Amex Green Card reduces it further to $150, especially valuable if paired with the $209 CLEAR+ credit. But neither downgrade offers a sign-up bonus. Canceling the Platinum Card, however, opens the door to a new issuer. The Chase Sapphire Preferred® Card charges just $95 annually and offers a 75,000-point welcome bonus after $5,000 in spending within three months. That bonus is worth at least $750 when used for travel through Chase. The $50 annual hotel credit covers more than half the card’s fee. Closing a high-fee card doesn’t crater your credit score — accounts in good standing remain on reports for 10 years. The real win is in net financial impact: $800 saved on fees, plus $750 in new value, for a total shift of $1,550 in the cardholder’s favor.

CEO Stephen Squeri recently described AI as creating a "structural shift" in the way companies operate in his annual letter to shareholders. Raymond Joabar, Group President of Global Commercial Services at American Express, stated that AI has the potential to transform how businesses get things done. The acquisition is expected to close within the second quarter of 2026, subject to closing conditions.

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Charles Schwab Crypto entry threatens Robinhood's premium subscription and trading dominance

Robinhood enters a phase of price competition and user retention as its dominance in crypto trading and its premium subscription model are threatened. Charles Schwab announced it will launch a spot crypto trading platform for retail clients by mid-2026. The platform will enable users to trade Bitcoin and Ethereum directly alongside stocks and ETFs with 24/7 support. Schwab will charge a fee of 75 basis points. With $12 trillion in client assets, Schwab can subsidize trading costs to lure away Robinhood's users. Robinhood stock is down nearly 30% since the start of 2026.

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