In a significant leap for the field of neurotechnology, Neuralink, a tech startup co-founded by billionaire entrepreneur Elon Musk, recently obtained the Food and Drug Administration’s approval to commence trials implanting their revolutionary brain chips into human subjects. The firm's cutting-edge brain-computer interface has generated significant anticipation, with trials expected to start in the near future.

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The announcement has sent waves of excitement through the tech world, propelling Neuralink’s valuation to a staggering $5 billion, a significant jump from $2 billion just two years ago, according to Reuters. Despite the fact that wide-scale patient treatment might be several years away, investors remain optimistic about the venture's prospects.

However, the race in brain tech is not exclusive to Neuralink. Several companies, including Synchron, which is backed by tech moguls Bill Gates and Jeff Bezos, are striving to make strides in this field. Retail investors have even been getting involved. TruBrain is a startup live on StartEngine that has raised millions from retail investors over several years.

Daniel Ives, an analyst with Wedbush Securities, remarked, “Musk has had the historic golden touch with Tesla Inc. and SpaceX so Neuralink is on the radar of the tech world over the coming years.” With its massive innovation and potential for groundbreaking technology, Neuralink’s valuation has seen a significant uptick in the private markets drastically outperforming major indices like the S&P 500.

The goal of Neuralink’s human trials is to empower those suffering from paralysis to operate a computer or phone purely through their brain activity. Their device, Neuralink 1, comprises multiple chips, a wireless battery, and other electronics, all sealed within a device roughly the size of a large coin.

Despite the challenges Neuralink faces, such as concerns over its research protocols and treatment of animals in its studies, the company has achieved several noteworthy milestones. Notably, in 2020, Musk demonstrated brain activity in a pig with the chip implanted, and in 2021, Neuralink showcased how a chip-implanted monkey could play the video game Pong.

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Critics remain watchful of the ethics and privacy concerns surrounding Neuralink’s advancements. Penn State's Rock Ethics Institute’s neuroethicist Laura Cabrera questioned whether Musk will treat the brain implant as just another gadget or will take into consideration the requisite ethical considerations and regulations.

Meanwhile, the Center for Bioethics and Humanities’ neuroethicist L. Syd M Johnson warned of potential privacy issues, emphasizing the importance of protecting user data and outlining how Neuralink plans to handle it.

Despite these concerns, the approval of Neuralink’s human trials by the FDA represents a monumental milestone in the pursuit of advanced neurotechnology. The tech world watches with bated breath as this groundbreaking venture unfolds.

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