April 9 - Anthony Armstrong, named xAI's CFO in October, has departed the company as part of a broader wave of senior exits, the Information reported on Thursday, citing two people familiar with the
CFO Anthony Armstrong Departs xAI Amid Major Senior Leadership Changes
Senior Leadership Shakeup at xAI and Related Companies
Anthony Armstrong's Departure
April 9 - Anthony Armstrong, named xAI's CFO in October, has departed the company as part of a broader wave of senior exits, the Information reported on Thursday, citing two people familiar with the matter.
Armstrong's Background and Role
Previous Experience
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.
Reporting Structure
Johnsen was the finance chief of the combined company following xAI and SpaceX's record-setting merger.
Official Response
xAI did not immediately respond to Reuters' request for comment.
Armstrong's Responsibilities and Impact
Finance Operations Leadership
Armstrong was leading the finance operations for both xAI and X, the Financial Times had reported in October.
Financial Stability Efforts
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 IPO Plans
Valuation and Fundraising Goals
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, Reuters has previously reported.
IPO Details and Retail Investor Involvement
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.
Reporting Credits
(Reporting by Juby Babu in Mexico City; Editing by Shreya Biswas)
