Synopsis
Anthony Armstrong, xAI's Chief Financial Officer, has left the company. This departure is part of a larger trend of senior staff exits. Armstrong was instrumental in guiding X's finances back to stability. Meanwhile, SpaceX is preparing for a significant initial public offering. The space company aims to raise a substantial amount of capital.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.
Johnsen was the finance chief of the combined company following xAI and SpaceX's record-setting merger.
xAI did not immediately respond to Reuters' request for comment.
Armstrong was leading the finance operations for both xAI and X, the Financial Times had reported in October.
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 is planning a highly anticipated initial public offering seeking to raise $75 billion, valuing the space company at as much as $1.75 trillion, has previously reported.
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.
