Elon Musk's brain-computer interface company Neuralink has raised $600 million in new funding at a $9 billion valuation, according to Semafor. The fundraising round follows the company's first human implant earlier this year and expands its efforts to develop medical applications for its brain chip technology.
Musk has previously stated that humans may be able to surf the web with their thoughts by the end of 2030, Reuters reported. The claim has drawn renewed attention amid the funding news. In January, MIT Technology Review noted that neuroscience experts have questioned the feasibility of this timeline.
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Clinical Trials Underway
Neuralink began human trials in 2024 after receiving U.S. Food and Drug Administration approval to implant its brain-computer interface, or BCI, in paralysis patients. The first participant, Noland Arbaugh, underwent surgery in January 2024 and was later shown controlling a computer cursor and playing online chess using only his thoughts, according to Reuters.
In May 2024, Neuralink registered a clinical study in the U.S. government trials database, aiming to enroll three participants. The company is also expanding its trial footprint internationally, having received approval from Health Canada in November 2024 to recruit six patients for a study testing the device's safety and efficacy in enabling cursor movement through brain activity.
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While early demonstrations suggest meaningful progress, the technology remains highly experimental. Neuralink is currently conducting an early feasibility study called the Precise Robotically Implanted Brain-Computer Interface, with three participants implanted. The company has not yet registered a pivotal trial — the FDA-required phase for commercial approval — and continues to modify its device design, including electrode and surgical robot upgrades, according to MIT Technology Review.
Valuation Surges Amid Musk's AI Risk Narrative
Neuralink's valuation has risen sharply to $9 billion, up from an estimated $5 billion in mid-2023, according to Semafor. The publication reported that the recent funding round drew support from existing investors aligned with Elon Musk's other companies, including Tesla Inc. TSLA and SpaceX.
Musk has repeatedly positioned Neuralink as a safeguard against artificial intelligence threats. In a May 2 post on X, he stated that Neuralink's brain chips must become widely available to ensure humans remain competitive as AI advances. He previously told CNN in 2023 that brain-computer interfaces could help reduce civilizational risk posed by artificial general intelligence.
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Industry Context And Competitors
The global BCI market is projected to reach $6.52 billion by 2030, growing at a compound annual growth rate of 18.15% from 2025 to 2030, according to Grand View Research.
Competitors are also gaining traction. Synchron was the first to receive FDA approval to implant a BCI in U.S. patients, and Precision Neuroscience recently announced regulatory clearance for its minimally invasive device.
As Neuralink expands its human trials, it faces pressure to keep pace with rivals and regulatory scrutiny. According to Reuters, FDA found quality control issues in the company's animal research lab, and U.S. Department of Agriculture's Inspector General have raised concerns over the pace and integrity of its experiments.
Looking Ahead
With significant competition, regulatory hurdles, and ethical concerns in play, Neuralink's ability to deliver on Musk's ambitious timeline will remain under close watch by investors, scientists, and the public alike.
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