Neuralink targets $1 billion revenue by 2031, Bloomberg News reports
The company aims to operate five large clinics within six years and offer three versions of its brain device, including Telepathy for communication between the brain and machines, Blindsight for restoring vision, and Deep for treating tremors and Parkinson's disease, according to the report.
Neuralink did not immediately respond to a Reuters request for comment.
The company expects regulatory approval for its Telepathy device by 2029, with plans to perform 2,000 surgeries annually and generate $100 million in revenue, the report said. By 2030, Neuralink anticipates launching Blindsight, expanding surgeries to 10,000 per year and generating over $500 million in revenue.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
3 hours ago
- CNA
Musk says Tesla, Samsung sign $16.5 billion chip supply deal
SEOUL : Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business. Samsung's shares jumped as much as 6.8 per cent to their highest since September last year after news of the deal. Musk said Samsung's new chip factory in Taylor, Texas will make Tesla's next-generation AI6 chip, potentially re-energizing the project that has faced long delays amid Samsung's difficulties in retaining and attracting major clients. "Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house," Musk said in a post on X on Monday. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher," he said in another post. According to a senior analyst at NH Investment & Securities, Ryu Young-ho, Samsung's Taylor fab "so far had virtually no customers, so this order is quite meaningful". In October, Reuters reported that Samsung had postponed taking deliveries of ASML chipmaking equipment for its Texas factory as it had not yet won any major customers for the project. It has already delayed the plant's operational start to 2026. POTENTIAL PRODUCTION TIMELINE While no timeline was provided for AI6 chip production, Musk has previously said that next-generation A15 chips will be produced at the end of 2026, suggesting A16 would follow. Lee Dong-ju, an analyst at SK Securities, expects production in 2027 or 2028, but Tesla has a history of missing its targets. Samsung currently makes Tesla's A14 chips, which power its Full Self-Driving driver assistant system, while TSMC is slated to make the AI5, initially in Taiwan and then Arizona, Musk has said. Samsung, the world's top memory chip maker, also produces logic chips designed by customers through its foundry business. The Texas project is central to Samsung Chairman Jay Y. Lee's strategy to expand beyond its bread-and-butter memory chips into contract chip manufacturing. Samsung currently holds just 8 per cent of the global foundry market, far behind industry leader TSMC, which has a 67 per cent share, data from market researcher Trendforce show. Samsung had earlier announced the $16.5 billion chip supply deal without naming the client, saying the customer had requested confidentiality about the details of the deal, which will run through the end of 2033. Three sources briefed about the matter told Reuters that Tesla was the customer for the deal. HELP SAMSUNG'S FOUNDRY BUSINESS The deal with Tesla comes as Samsung, which is due to report its earnings on Thursday, faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix. This lag has weighed heavily on its profits and share price. Pak Yuak, an analyst at Kiwoom Securities, said the deal would help reduce losses at Samsung's foundry business, which he estimates exceeded 5 trillion won ($3.6 billion) in the first half of the year. Analysts say Samsung has struggled to retain key clients, with many defecting to TSMC for advanced chips, underscoring technological challenges the firm faces in the race to stay relevant in the capital intensive business. TSMC counts Apple, Nvidia and Qualcomm among its customers. It is not clear whether the Samsung-Tesla deal is related to ongoing trade talks between South Korea and the United States. Seoul is seeking U.S. partnerships in chips and shipbuilding amid last-ditch efforts to reach a trade deal to eliminate or reduce potential 25 per cent U.S. tariffs.
Business Times
4 hours ago
- Business Times
New board appointments announced for Singapore Land Authority; Yeoh Oon Jin steps down
[SINGAPORE] The Ministry of Law (MinLaw) on Monday (Jul 28) announced the latest board appointment changes at the Singapore Land Authority (SLA). Former executive chairman of PwC Singapore Yeoh Oon Jin will be stepping down as chairman of the SLA board on Jul 31. In his role, Yeoh pushed for the adaptive reuse of state properties for more social and community uses. This included the rejuvenation of heritage buildings into vibrant community and lifestyle clusters, such as the former St Andrew's Mission Hospital. He served on the board since Aug 1, 2016. He played a key role in developing the Digital Conveyancing Portal, which aims to transform the current manual, paper-based conveyancing process into an efficient, streamlined digitalised process. It is expected to be fully completed in 2026. Under Yeoh's guidance, SLA was elected co-chair of the United Nations Committee of Experts on Global Geospatial Information Management, and implemented a refreshed National Geospatial Masterplan to drive a geo-enabled Singapore. His replacement is Loh Lik Peng, founder and director of Unlisted Collection, who will be appointed as chairman on Aug 1. Loh has been on the SLA board since Aug 1, 2017, and was appointed as deputy chairman on Aug 1, 2020. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He is also currently the chairman of Shatec Institutes, the Singapore Arts School, Singapore Cruise Centre and National Museum of Singapore. Loh is a board member of the National Heritage Board. Jerry Koh, managing partner at Singapore law firm Allen and Gledhill, will be appointed as deputy chairman of the SLA board on Aug 1. He has been a member of the board since Aug 1, 2020. Additionally, two new members will be appointed to the SLA board for a term of two years. They are Boo Junfeng, director and writer at Peanut Pictures, and Rafiq Bin Mohamad, founder and creative and branding director at Feral. Meanwhile, the six board members who will be reappointed for a term of two years are: Jaelle Ang, chief executive and co-founder of The Great Room; Angelene Chan, executive chairman of DP Architects; Cheung Pui Yuen, chief risk officer of Deloitte South-east Asia; Chong Siak Ching, former chief executive of National Gallery Singapore; Lien Choong Luen, general manager of Gojek Singapore; and Melvyn Yeo, founder and managing partner of Trirec. Angeline Poh, chief customer and corporate development officer at Mediacorp, will complete her current term of office on Jul 31 and will not be reappointed as an SLA board member. Existing SLA board members such as Calvin Phua, chief executive of SLA; Colin Chow, deputy secretary (policy) at the Ministry of Law; and Kenny Tan, deputy secretary (workforce) at the Ministry of Manpower will continue serving on the board.
CNA
4 hours ago
- CNA
CNA938 Rewind - Stock take today: EU-US preliminary deal, US week ahead
On the daily markets analysis on Open For Business, Andrea Heng and Susan Ng speak with Heng Koon How, Head of Markets Strategy, Global Economics and Markets Research, UOB.
