Neuralink, the brain-computer interface company co-founded by Elon Musk, is reportedly in the early stages of raising $500 million in fresh funding that could push its valuation to $9 billion pre-money.
This would mark a substantial leap from its last known valuation of $3.5 billion in November 2023, according to data from PitchBook.
The report, published by Bloomberg, cites sources familiar with the matter, though it emphasizes that discussions are ongoing and the terms are subject to change.
Founded in 2017, Neuralink aims to develop advanced brain implants that connect human thoughts directly to digital devices. The company achieved a major milestone in January last year with its first successful human implant. Since then, Neuralink has implanted its device in three individuals as part of a clinical trial dubbed the PRIME Study.
The trial is focused on people with severe neurological conditions such as cervical spinal cord injuries or amyotrophic lateral sclerosis (ALS), particularly those with limited or no hand function. The objective is to determine whether the implant allows users to control digital devices using neural signals.
Earlier this month, Neuralink began recruiting additional participants for the ongoing study, as it continues to push the boundaries of brain-machine interface technology.
While current applications are geared toward restoring mobility and communication, Musk has previously signaled broader ambitions for Neuralink’s tech, including what he describes as a future “symbiosis” between humans and artificial intelligence.
What you should know:
Neuralink is in talks to raise $500M, potentially reaching a $9B valuation.
The company has implanted brain chips in three human patients and is running a clinical trial to help individuals with spinal cord injuries or ALS control devices using thoughts.
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