Neuralink, the brain-computer interface company co-founded by Elon Musk, is reportedly in early talks to raise up to $500 million in a new funding round that could value the company at $8.5 billion pre-money.
This is according to a report by Bloomberg, citing sources familiar with the matter.
If finalized, the round would bring Neuralink’s post-money valuation to around $9 billion, marking a significant leap from its $3.5 billion valuation in November 2023, based on PitchBook data. Discussions with potential investors are still ongoing, and terms could shift, insiders caution.
Pushing boundaries in brain-tech
Led by Jared Birchall, who also manages Musk’s family office and holds positions across Musk’s various ventures, Neuralink is part of a fast-evolving frontier in neurotechnology.
- The company is developing brain implants designed to allow users, particularly individuals with paralysis or neurodegenerative conditions, to control digital devices using their thoughts.
- While no such technology has yet received commercial clearance in the U.S., Neuralink is positioning itself as a frontrunner in the sector.
- Musk has also repeatedly hinted at longer-term ambitions, including enhancing human cognition through direct brain-computer integration.
Valuation surge across Musk ventures
Neuralink’s potential fundraising comes on the heels of soaring valuations across Musk’s privately held companies.
SpaceX hit a valuation of approximately $350 billion following a secondary share sale in December, while xAI, Musk’s artificial intelligence startup, was recently valued at $80 billion via a merger with social platform X.
Musk himself remains the world’s richest individual, according to the Bloomberg Billionaires Index, with an estimated net worth of $301 billion.
What you should know
Neuralink was established in 2017 to implant electrodes into people’s brains, and the company completed its first human implant in January last year.
Earlier this month, Neuralink began a worldwide search for volunteers to join its study on brain implant designed to enable individuals to control computers using their thoughts.
So far, Neuralink has successfully implanted its device in three patients. The company is among several global firms developing and testing experimental brain implants aimed at restoring mobility and communication for people with severe neurological conditions.
- Neuralink’s ongoing clinical trial, dubbed the PRIME Study, is evaluating the safety and functionality of its implant in individuals with cervical spinal cord injuries or amyotrophic lateral sclerosis (ALS), who have little to no hand function.
- The goal is to assess whether the device can help them operate digital devices through neural signals.
Elon Musk has previously hinted at broader ambitions for Neuralink’s technology, including achieving a “symbiosis.
