Elon Musk’s AI venture, xAI, has named Anthony Armstrong, a former Morgan Stanley banker, as its new CFO, Financial Times sources report.

Armstrong, who previously advised Musk during the Twitter acquisition, will now oversee the financial operations of both xAI and X, following their merger in April. He has been involved with xAI for several weeks and was officially appointed CFO recently, according to the report.

The appointment comes after a period of executive turnover at Musk’s AI company and X. xAI has been without a CFO since Mike Liberatore stepped down in July. Other notable departures include general counsel Robert Keele in August, senior lawyer Raghu Rao, co-founder Igor Babuschkin who left to start a VC focused on AI safety, and former X CEO Linda Yaccarino in July.

Armstrong will succeed X’s current CFO, Mahmoud Reza Banki, who is leaving the company. His experience in high-profile financial deals positions him to guide xAI and X through this next phase of growth and operational consolidation.

With Armstrong on board, xAI aims to stabilize its executive leadership and strengthen financial strategy as it expands its AI initiatives under Musk’s direction.