Elon Musk's Neuralink Expected To Get $8.5 Billion Valuation

• Neurotechnology company Neuralink is expected to get an $8.5 billion pre-money valuation 
• Insiders say that an upcoming funding round for the Elon Musk venture is likely to raise $500 million
• The company, which was founded in 2016, has successfully implanted its brain-computer interfaces in three individuals 

Elon Musk's Neuralink Corp. is planning to raise $500 million at an upcoming funding round, giving it a pre-money valuation of $8.5 billion, Bloomberg reported Wednesday.

The insiders who spoke to the outlet clarified that the company was still in preliminary discussions with potential investors, and that the terms of the funding rounds have yet to be finalized, meaning that the valuation could change before all is said and done.

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Founded in 2016, Neuralink is a neurotechnology company that aims to develop implantable brain-computer interfaces, or BCI. When it was first publicized in 2017, Musk said that he hoped to have the first chips implanted in people within eight to 10 years.

In early 2024, that goal was achieved when Neuralink implanted the world's first BCI into a man named Noland Arbaugh. The quadraplegic has been able to use the device, which is controlled by his thoughts, to access the internet, post on social media, and play games like chess.

Earlier this year, Musk said that two more people had received implants. Following the successful operations, the company reportedly hopes to complete an additional 20 to 30 implants before the year is out.

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Initially, the Food and Drug Administration  rejected Neuralink's request to begin human trials, citing safety concerns. Specifically, the agency was concerned about the implants' lithium batteries and the possibility of wires migrating to other parts of the brain. But eventually, that decision was reversed, and the BCIs have been in clinical trials since 2022.

Thus far, the devices have all been implanted in individuals living with quadriplegia and are being considered for those who experience blindness. Though Musk has said he has no intention of stopping there. He's spoken at length about the potential for Neuralink BCIs in connecting the human brain with AI, an option he'd like to see available to able-bodied consumers as well.

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Neuralink is not the only company working on BCIs, either. According to the federal government's database of clinical studies, there are currently more than 45 trials involving brain-computer interfaces. 

Marco Baptistal, the chief scientific officer of the Christopher & Dana Reeve Foundation, told the Associated Press that the new technology is "very exciting" and that through clinical trials, like the ones at Neuralink, "we'll be able to see what's going to be the winning approach." Baptistal continued, "We need to really support high-risk, high-reward endeavors. This is clearly high-risk, high-reward. We don't know how safe it's going to be. We don't know how feasible it's going to be."

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