Investing.com -- Elon Musk’s brain implant company, Neuralink, is reportedly planning a funding round to raise approximately $500 million. The pre-money valuation for this round is set at $8.5 billion, according to Bloomberg, citing sources familiar with the matter. The terms of the funding round are still to be finalized.
Neuralink has initiated preliminary talks with potential investors regarding the funding round. The company has not immediately responded to requests for comments on these developments.
Neuralink is currently testing its device, designed to assist individuals with spinal cord injuries. The first patient to use the device has been able to play video games, surf the internet, post on social media, and control a cursor on his laptop using his brain. These functions were made possible by the Neuralink device, demonstrating its potential capabilities.
The device is still in the testing phase, with the company continuing to explore its full range of potential applications.
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