Finance
CFO Anthony Armstrong Leaves XAI, the Information Reports
Published by Global Banking & Finance Review®
Posted on April 9, 2026
2 min readLast updated: April 9, 2026
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Anthony Armstrong, who became CFO of xAI and X in October, has exited the company amid a wave of senior departures, including the exit of several co‑founders. Meanwhile SpaceX—now owning xAI—is preparing a landmark IPO aimed at raising about $75 billion.
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)
Key Takeaways
- •Anthony Armstrong—ex‑Morgan Stanley banker and Musk advisor during the Twitter/X deal—was named CFO of xAI and X in October 2025 and has now left according to The Information (cfodive.com).
- •His CFO role included steering X back to financial stability following advertiser losses after Musk loosened moderation policies (tech.az).
- •SpaceX, which acquired xAI in February 2026, is planning an IPO targeting about $75 billion at up to a $1.75 trillion valuation, with up to 30% of shares earmarked for retail investors and a briefing for 1,500 individuals in June (en.sedaily.com)
References
Frequently Asked Questions about CFO Anthony Armstrong leaves xAI, the Information reports
1Who is Anthony Armstrong?
Anthony Armstrong is the former CFO of xAI who previously worked as a Morgan Stanley banker and advised Elon Musk during the acquisition of social media platform X.
2Why did Anthony Armstrong leave xAI?
Anthony Armstrong departed xAI as part of a broader wave of senior exits, according to a report citing sources familiar with the matter.
3What roles did Armstrong hold at xAI and X?
Armstrong was the CFO of xAI, leading finance operations for both xAI and X, and was responsible for steering X back to financial stability.
4Who did Armstrong report to at xAI?
Anthony Armstrong reported to Bret Johnsen, the finance chief of the combined company following the xAI and SpaceX merger.
5What are SpaceX's IPO plans?
SpaceX plans a highly anticipated IPO seeking $75 billion, valuing the company at $1.75 trillion, and is considering an allocation for retail investors.
