Who is Anthony Armstrong? New CFO of Elon Musk’s Rs 10025418432300 xAI group

Anthony Armstrong, a former Morgan Stanley executive, has been appointed Chief Financial Officer (CFO) of Elon Musk’s artificial intelligence company, xAI. The move further strengthens Musk’s control over his combined USD 113 billion xAI, X group, as per a report by the Financial Times.

Armstrong, who previously advised Musk on the USD 44 billion purchase of X (formerly Twitter), has become one of the billionaire’s most trusted aides. In his new role, he will oversee the financial operations of both the social media platform X and the AI firm xAI.

The appointment comes at a time of significant leadership changes within Musk’s companies. Recent high-profile departures include X’s Chief Executive Officer, Linda Yaccarino, and xAI’s former CFO, Mike Liberatore.

Sources familiar with the matter told the Financial Times that Armstrong had already been working with xAI for several weeks before his official appointment. His X profile now includes the xAI logo, confirming his position within the company. However, neither Armstrong nor xAI has commented on the appointment.

Musk has been increasing his investment in artificial intelligence, aiming to rival major players such as OpenAI and Google’s DeepMind. xAI is reportedly in talks for a new funding round that could value the company at around USD 200 billion, though the deal has not yet been finalised.

As CFO, Armstrong faces the task of restoring X’s financial stability. The platform has struggled with revenue declines after Musk relaxed its content moderation policies, leading to an exodus of major advertisers.

Armstrong brings extensive experience in technology mergers and acquisitions from his time at Morgan Stanley, where he played a key role in structuring Musk’s acquisition of Twitter. His financial expertise is expected to be crucial in managing the complex operations of Musk’s growing business empire.

He replaces Mike Liberatore, who left xAI after only three months to join OpenAI, reportedly due to disagreements over corporate structure and financial goals. Armstrong will also take over responsibilities previously held by X’s outgoing CFO, Mahmoud Rezam Banki, who is departing after less than a year.

Armstrong’s rise from advising Musk during the Twitter takeover to now leading finances across Musk’s AI and social media ventures highlights the growing integration of Musk’s companies under a closely aligned executive team, even as senior turnover continues across the group.