Unusual Whales

Elon Musk's Neuralink now valued at $5 billion after secondary trades

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Per Business Insider

While most people know Elon Musk for his work on Tesla, SpaceX, and Twitter, another one of his companies, Neuralink, is also starting to gain more attention as its valuation rose to around $5 billion. This came as secondary sales resulted in an over-double increase in the company's valuation.

Neuralink is another one of Musk's companies that focuses on brain chips. Despite already carrying out some tests, the company is still reportedly far away from commercial clearance.

It was also reported that the company had a $2 billion valuation two years ago. Now, secondary trades made by employees, investors, or other shareholders have pushed Neuralink's valuation to over double at $5 billion.

This comes as Neuralink was able to get its human trial FDA approval, which would take the research a step further and finally see how the brain chips perform on humans.

Elon Musk has previously shared the potential behind Neuralink on top of how it could restore bodily functions. These include the possibility of telepathy as well as browsing the web, all in the chip.

In May 25, Neuralink reportedly received FDA approval, which could have sparked the private trades.

In December, it was noted that US law enforcement was investigating Neuralink over potential animal-welfare violations amid internal staff complaints regarding how the animal testing could be rushed, which would cause needless suffering and death.

This came as Neuralink is trying to develop a brain implant that could help paralyzed people walk again and cure other neurological ailments.

In November, it was reported that Elon Musk bought one Neuralink employee, 2 Boring company workers and 50 Tesla staff to Twitter. The person that the billionaire brought to Twitter was Andrew Musk, the son of Elon Musk's uncle.

This came as Elon Musk made major changes to Twitter and brought help from his other companies.

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Business Insider