Musk’s Neuralink Targets $8.5 Billion Valuation In New $500 Million Funding Round: Report (Image: X/neuralink)
Elon Musk’s brain-interface company Neuralink is reportedly in early talks to raise around $500 million in fresh funding, according to a report by Bloomberg.
The proposed capital injection would come at a hefty pre-money valuation of approximately $8.5 billion, marking a significant jump from the estimated $5 billion valuation the company held in 2023 based on secondary market stock trades.
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The report, which cites sources familiar with the matter, notes that discussions with potential investors are still in the preliminary stages and the final terms of the fundraising round have not yet been settled.
Neuralink has yet to comment on the news publicly, and did not respond to Reuters‘ request for a statement.
Founded with the mission of merging the human brain with advanced technology, Neuralink is currently developing a brain-computer interface (BCI) implant designed to help individuals with neurological impairments, particularly those suffering from spinal cord injuries.
The company made headlines earlier this year when it revealed that its first patient with the implant was able to play video games, navigate the internet, post on social media, and control a computer cursor using only brain signals.
In 2023, the US Food and Drug Administration (FDA) initially denied Neuralink’s request to begin human trials, citing concerns about the safety of the device and its implantation process.
However, the agency later reversed course and granted Neuralink permission to conduct clinical trials, which are currently underway.
Neuralink had previously raised $280 million in a funding round led by Founders Fund, the venture capital firm backed by billionaire investor Peter Thiel. The new capital, if secured, would further bolster the company’s ambitious plans.
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Musk has laid out far-reaching visions for Neuralink’s future, suggesting that the technology could one day treat a wide range of conditions, including obesity, depression, schizophrenia, and even autism.
His goal is said to be building a world where healthy individuals could walk into local clinics for quick, routine neural implant procedures, enabling enhanced cognition, telepathic communication, and seamless human-machine integration.
Synchron Inc., a rival BCI startup, is also developing similar implants that have shown early success in enabling people with motor disabilities to interact with computers.
Meanwhile, scrutiny of Neuralink’s internal operations has also drawn attention. Earlier this year, Reuters reported that the FDA had reached out to some recently dismissed agency scientists, some of whom had evaluated Neuralink’s device to consider returning to their roles, indicating possible internal concerns about the review process.
