07 Oct 2025 | 5 Mins Read
Elon Musk hires ex-Morgan Stanley banker as xAI CFO.
Flipitmoney
Elon Musk has named Anthony Armstrong, a former Morgan Stanley executive, as chief financial officer (CFO) of xAI and X, the social media service. Armstrong helped Musk acquire Twitter and will oversee the companies' finances, including nursing X back to financial health after a sales decline. xAI is valued at $200 billion and loses $1 billion per month due to high infrastructure costs.