The Strategist

Reuters: Elon Musk's Neuralink valued at $5B

06/06/2023 - 09:44

The value of the Elon Musk’s company Neuralink, which creates chips for brain implantation, has surpassed $5 billion, reports Reuters.

Steve Jurvetson
Steve Jurvetson
The Neuralink startup, makes chips for brain implantation, is currently valued at roughly $5 billion.

The value is based on shares of Neuralink traded privately in recent months, prior to the company's announcement that U.S. regulators had cleared human trials of its technology. Musk's firm was given a valuation of close to $2 billion in a private financing round two years ago, Reuters notes.

The agency reports, referring to sources, that Neuralink made an offer to investors to purchase the company's assets at a $7 billion valuation, or at $55 per share, after the trials' clearance. At that, it is still unclear whether any investors has consented to purchase Neuralink stock under such conditions.

The U.S. Food and Drug Administration (FDA) granted Neuralink permission to carry out its first human clinical trial, the company revealed on May 26. The business stated that the volunteer recruitment process for the trial has not yet begun.