Overview

• The Financial Times reported that Anthony Armstrong has been formally appointed chief financial officer after working with xAI for several weeks.
• Armstrong will oversee finances for xAI and the social platform X, with a mandate reported to include strengthening X’s financial position after advertiser losses.
• He previously led technology M&A at Morgan Stanley and advised Elon Musk on the $44 billion purchase of Twitter in 2022.
• The appointment is presented as part of xAI’s expansion phase, including integration of X’s data and infrastructure and a focus on AI buildout and acquisitions.
• The Financial Times also reported that xAI is in funding talks that could value the company near $200 billion, which investors said has not been finalized.