Elon Musk Appoints Ex-Morgan Stanley Banker Armstrong as xAI CFO

TLDR

• Elon Musk has appointed Anthony Armstrong as the new Chief Financial Officer of xAI.
• Armstrong will also lead financial operations at the social media platform X.
• He previously worked at Morgan Stanley and advised Musk during the acquisition of Twitter.
• Armstrong replaces Mike Liberatore, who left xAI after internal disagreements.
• His appointment follows a series of executive exits from both xAI and X.

Elon Musk’s AI company xAI has appointed Anthony Armstrong as its new Chief Financial Officer, the Financial Times reported Monday. Armstrong, a former Morgan Stanley executive, will also oversee financial operations at Musk’s social media platform X. His appointment follows recent executive exits across both xAI and X, including former CFOs and legal heads.

Armstrong to Lead Financial Operations at xAI and X

Elon Musk selected Armstrong to manage finance for both xAI and X as leadership restructuring continues. Armstrong reportedly joined xAI weeks ago and was officially named CFO recently, according to sources cited by the Financial Times. He will now take over finance roles at a time of growing financial challenges across Musk’s businesses.

Armstrong advised Elon Musk during his $44 billion acquisition of Twitter in 2022 while leading tech M&A at Morgan Stanley. During that deal, he built a close relationship with Musk and became a trusted advisor. That relationship has now led to his elevated role across both xAI and X.

His responsibilities will include stabilizing X’s finances, which have been impacted by an advertiser exodus since Musk’s content policy changes. Armstrong’s transition comes as xAI pursues major growth ambitions in the competitive AI sector. Sources also confirmed that Armstrong’s X profile now displays the xAI logo next to his name.

Executive Shakeups Hit xAI and X Amid Financial Push

Anthony Armstrong replaces Mike Liberatore, who recently left xAI following internal disagreements over targets and organizational structure. The Financial Times reported that tensions between Liberatore and Musk’s leadership circle prompted the departure. Armstrong steps into the CFO role during an ongoing leadership shake-up.

Earlier this year, Armstrong also assisted Elon Musk with federal restructuring efforts at the Department of Government Efficiency. His role expanded from advising deals to managing public-sector performance, reinforcing his versatility in Musk’s network. This background positions him for a demanding dual CFO role at xAI and X.

Meanwhile, X has seen a wave of exits, including CEO Linda Yaccarino and finance head Mahmoud Reza Banki. xAI also lost its general counsel, Robert Keele this summer. These changes highlight the urgent need for leadership continuity and financial control under Armstrong.

Elon Musk’s xAI is reportedly in talks for a new funding round, potentially valuing the company at $200 billion. However, Financial Times sources said the deal remains under negotiation, and no terms have been finalized yet. Armstrong will likely lead key aspects of this financing push.

The funding effort reflects Musk’s ambition for xAI to rival major tech players in artificial intelligence. Musk founded xAI in 2023 to challenge AI incumbents he accused of censorship and weak safety standards. Armstrong’s financial leadership will be vital as xAI positions itself in a volatile market.

The post Elon Musk Appoints Ex-Morgan Stanley Banker Armstrong as xAI CFO appeared first on CoinCentral.