CFO Anthony Armstrong puts in his papers at xAI

Anthony Armstrong, named xAI’s CFO in October, has departed the company as part of a ​broader wave of senior exits, the Information ‌reported.

Armstrong, who previously worked as a Morgan Stanley banker ​and advised Elon Musk during the acquisition of ​social media platform X, was reporting to ⁠Bret Johnsen, the Information had reported in February.

Johnsen ​was the finance chief of the combined company ​following xAI and SpaceX’s record-setting merger.

Armstrong was leading the finance operations for both ​xAI and X, the Financial Times had ​reported in October.

He was responsible for steering the social media ‌business ⁠back to financial stability following an exodus of advertisers after Musk relaxed its content moderation standards, the report said.

SpaceX is planning a highly anticipated initial ​public offering ​seeking to ⁠raise $75 billion, valuing the space company at as much as $1.75 trillion.

It outlined details of the IPO at ​a meeting ⁠with its team of bankers on Monday, telling them it plans to earmark a large portion ⁠of ​shares for retail investors and will ​host 1,500 of them at an event in June. Reuters