Musk’s brain implant startup Neuralink eyes $500M raise at $8.5B valuation for brain-computer interface expansion

Neuralink, the brain implant startup founded by Elon Musk, is planning to raise around $500 million in fresh funding at a pre-money valuation of $8.5 billion, Bloomberg reported, citing people familiar with the deal.

The round, still in its early stages, could push Neuralink’s valuation to roughly $9 billion post-money. Discussions with investors are ongoing, and terms may still shift.

“The brain-implant company has begun preliminary discussions with potential investors about the funding round, said one of the people, all of whom asked not to be identified discussing private information. Terms, which currently imply a $9 billion post-money valuation, aren’t finalized and could still change, one of the people cautioned,” Bloomberg reported.

The startup was last valued at $3.5 billion in November 2023, according to PitchBook. It’s led by Jared Birchall, who also runs Musk’s family office and holds key roles across other Musk-led ventures.

Neuralink declined to comment on the report.

Launched in 2016, Neuralink is working on a brain-computer interface that lets users control devices with their minds. The tech — called the “Link” — is a tiny implant embedded in the brain, connected to threads thinner than human hair. It contains over a thousand electrodes that pick up neural activity and transmit it to external systems.

The company’s first focus is on helping patients with severe mobility issues. Longer term, Musk has floated the idea of the technology being used more broadly, including for memory enhancement and human-AI integration.

Neuralink received FDA clearance in 2023 to begin human trials, marking a major milestone in its path toward commercialization.

If the new round goes through, it would mark another massive step up in valuation — and another sign that investors remain eager to back Musk’s most ambitious bets. SpaceX is now worth an estimated $350 billion, while xAI, his artificial intelligence company, recently hit an $80 billion valuation after merging with X.

Early last year, Neuralink achieved a groundbreaking milestone by becoming the first company to successfully implant its device into a human brain. With more human trials underway and the funding pipeline opening up, Neuralink may be closer than ever to turning its sci-fi vision into something real.