Finance chief exits xAI in wake of SpaceX merger – Business News
Anthony Armstrong, named xAI’s CFO in October, has departed the company as half of a broader wave of senior exits, the Information reported on Thursday, citing two people aware of the matter.
Armstrong, who beforehand labored as a Morgan Stanley banker and suggested 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 mixed company following xAI and SpaceX’s record-setting merger.
xAI finance chief Anthony Armstrong, who was named to the post in October, reportedly departed the company as half of a broader wave of senior exits. NurPhoto through Getty Images
xAI didn’t instantly reply to Reuters’ request for remark.
Armstrong was main the finance operations for each xAI and X, the Financial Times had reported in October.
He was accountable for steering the social media business back to financial stability following an exodus of advertisers after Musk relaxed its content material moderation requirements, the report mentioned.
SpaceX is planning a extremely anticipated initial public offering in search of to raise $75 billion, valuing the space company at as a lot as $1.75 trillion, Reuters has beforehand reported.
It outlined particulars of the IPO at a assembly with its workforce of bankers on Monday, telling them it plans to earmark a massive portion of shares for retail traders and can host 1,500 of them at an occasion in June.
