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TechCrunch
TechCrunch
4w ago 16 views

xAI hires former Morgan Stanley banker Anthony Armstrong as CFO

Elon Musk's AI company, xAI, has appointed Anthony Armstrong as CFO, following a series of executive departures.
xAI hires former Morgan Stanley banker Anthony Armstrong as CFO
A What happened
Elon Musk's AI venture, xAI, has appointed Anthony Armstrong as its new chief financial officer, according to a report by the Financial Times. Armstrong, who has been working with xAI for several weeks, previously advised Musk during the Twitter acquisition. His role will involve overseeing the finances of both xAI and X, which merged earlier this year. This appointment follows a wave of executive departures, including the exit of xAI's previous CFO, Mike Liberatore, in July, and other key figures such as general counsel Robert Keele and co-founder Igor Babuschkin. Armstrong will replace Mahmoud Reza Banki, the current CFO of X, who is also leaving the company.

Key insights

  • 1

    Executive Turnover

    xAI has experienced significant executive turnover recently.

  • 2

    CFO Appointment

    Anthony Armstrong's appointment marks a strategic move for xAI's financial management.

Takeaways

The appointment of Anthony Armstrong as CFO may stabilize xAI's financial leadership amid recent executive changes.