xAI has named Anthony Armstrong as its Chief Financial Officer. He formally assumes the role after working with the company for several weeks. Armstrong replaces Mike Liberatore, who left the CFO position in July. Armstrong previously worked at Morgan Stanley, leading technology M&A transactions, and advised Elon Musk during the Twitter acquisition.
Armstrong will oversee finances for both xAI and X, the social media platform formerly known as Twitter, which merged with xAI in April. His responsibilities include managing budgets, capital allocation, reporting, and integrating financial operations across the combined organization.
Executive Changes Shape the Leadership Landscape
xAI has seen several departures in recent months. General counsel Robert Keele left in August, and senior lawyer Raghu Rao also exited the company. Co-founder Igor Babuschkin resigned to start an AI-focused venture capital firm. Mike Liberatore stepped down as CFO in July after disagreements over company structure and financial priorities.
X also experienced turnover. CEO Linda Yaccarino resigned in July, and finance chief Mahmoud Reza Banki left prior to Armstrong’s appointment. These departures left gaps in senior management, highlighting the need for coordinated oversight across both companies.
Armstrong’s role brings financial stability to a leadership structure that has been reshuffled in recent months. He will be responsible for aligning financial operations across xAI and X while ensuring consistency in reporting and strategic allocation of capital.
Bringing Wall Street Expertise to AI and Social Media
Shawn Cole, president of Cowen Partners Executive Search, stated to CFO Dive, “Armstrong’s appointment shows a clear focus on capital management and operational oversight across both entities. His prior work with Musk’s projects positions him to handle the complexity of the merged organization.”
Armstrong’s background includes leading technology M&A at Morgan Stanley and advising multiple tech companies on acquisitions, capital management, and corporate strategy. In his new role, he will oversee the integration of finance teams, manage reporting workflows, and handle operational budgets across xAI and X.
Managing Finance Across a Combined Organization
The merger of xAI and X in April created a unified organization responsible for AI research, platform operations, and social media services. Armstrong’s appointment centralizes financial management and ensures that reporting, budgeting, and capital allocation are coordinated across the merged operations.
Before Armstrong joined, interim executives handled financial responsibilities. His role now provides a single point of oversight and connects strategic financial planning with operational execution across both companies. This includes integrating processes, monitoring expenditure, and coordinating teams across multiple divisions.
Armstrong’s early involvement allowed him to familiarize himself with financial reporting standards and workflows. He now provides continuity in leadership and a central point of accountability for the merged organization’s finances, supporting both AI development and social media operations.
