Elon Musk’s artificial intelligence company, xAI, has appointed a new chief financial officer. According to a report from the Financial Times, former Morgan Stanley banker Anthony Armstrong has taken on the role. Armstrong previously provided advisory services to Musk during the acquisition of Twitter.
The report states that Armstrong will be responsible for managing the finances of both xAI and the social media platform X, which were merged in the month of April. Armstrong has reportedly been working with xAI for several weeks, with his official appointment as CFO occurring only recently.
This appointment fills a key vacancy, as xAI has been operating without a chief financial officer since its previous finance head, Mike Liberatore, left the company in July. Armstrong’s hiring follows a series of notable executive departures from both xAI and X.
Several other senior figures have recently left the companies. xAI’s general counsel, Robert Keele, departed in August after approximately one year in his position. A senior lawyer named Raghu Rao also left around the same time. Furthermore, xAI co-founder Igor Babuschkin announced in August that he was leaving to establish his own venture capital firm focused on artificial intelligence safety research. Linda Yaccarino, the former chief executive officer of X, also resigned from her position in July.
Anthony Armstrong will assume his new duties, taking over from X’s current CFO, Mahmoud Reza Banki, who is reported to be leaving the company. xAI did not provide an immediate response to a request for comment on these developments.