Hustler Words – Elon Musk’s ambitious AI venture, xAI, has tapped Anthony Armstrong, a seasoned former Morgan Stanley banker, to helm its financial operations as Chief Financial Officer (CFO). The appointment, first reported by the Financial Times citing sources familiar with the matter, comes after a period of executive turnover at both xAI and its sister company, X.
Armstrong, who previously provided counsel to Musk during the tumultuous acquisition of Twitter, will now be responsible for managing the financial strategies of both xAI and X, following their merger in April. Sources indicate Armstrong has been embedded with the xAI team for several weeks, with his official appointment as CFO finalized recently.
The CFO position at xAI has been vacant since the departure of Mike Liberatore in July. Armstrong’s arrival follows the exits of several key figures, including xAI’s General Counsel Robert Keele, senior lawyer Raghu Rao, and co-founder Igor Babuschkin, who left to establish a VC firm focused on AI safety. Linda Yaccarino, former CEO of X, also resigned in July.
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Armstrong will succeed Mahmoud Reza Banki, the current CFO of X, who is reportedly leaving the company. The move signals a significant shift in the financial leadership of Musk’s AI and social media enterprises.
As of press time, xAI has not responded to requests for comment regarding Armstrong’s appointment.
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