Neuralink targets $500 million raise at $8.5 billion valuation: report
Elon Musk’s Neuralink is reportedly gearing up for a $500 million funding round at a $8.5 billion pre-money valuation.
The news was initially reported by Bloomberg, which cited sources reportedly familiar with the matter.
The Alleged Funding Round
Preliminary discussions for the raise, which could value Neuralink at $9 billion post-money, have reportedly started. Terms for the funding round remain fluid, however, as per alleged insiders who opted to remain anonymous due to the private nature of the potential deal.
Neuralink has not issued a comment about its alleged funding round. That being said, Neuralink is one of Elon Musk’s smaller ventures, with PitchBook valuing the brain-computer interface startup at $3.5 billion in November 2023.
Neuralink’s Ambitious Vision
Neuralink aims to create devices that enable users to interact with tech devices using only their brain. Neuralink is currently focusing on paralyzed individuals and neurodegenerative disease patients, though Musk has also hinted at Neuralink’s technology being used to address vision problems and other health issues.
Neuralink has made a lot of headway in its goals, with the startup recently announcing that it has expanded its human trial to three patients. All three are participants in the company’s ongoing primary study.
Musk’s Soaring Valuations
Neuralink’s potential capital raise aligns with skyrocketing valuations for Elon Musk’s other firms. While Tesla’s valuation remains volatile due to its publicly traded nature, his private space company, SpaceX, hit an impressive $350 billion valuation in December. His artificial intelligence startup, xAI, reached an $80 billion valuation following its merger with social media platform X.
Musk’s holdings in his companies have allowed him to top the Bloomberg Billionaires Index with a net worth of $310 billion as of writing.
The post Neuralink targets $500 million raise at $8.5 billion valuation: report appeared first on TESLARATI.
Source: https://www.teslarati.com/neuralink-targets-500-million-raise-8-5-billion-valuation-report/
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