Elon Musk's Neuralink Raises $600M in a Recent Funding Round
Elon Musk's brain-implant company, Neuralink, has raised $600 million in a recent funding round, which pushed its pre-money valuation to $9 billion, according to Semafor. This latest round follows a $280 million Series D raise in 2023, which was led by Peter Thiel's Founders Fund. The company was previously valued at $5 billion based on private stock trades and had been rumored in April to be seeking around $500 million in new funding.
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Interestingly, Neuralink is developing a brain-computer interface that includes a rechargeable, skull-mounted wireless implant with electrode threads that connect directly to the brain. The device is designed to help people with neurological disorders, such as paralysis or ALS, to control computers and other devices using only their thoughts. Neuralink recently announced that its patient registry is now available globally and that the U.S. FDA has granted its device a 'breakthrough' designation.
Indeed, the company made headlines earlier this year after its first human patient was able to use the implant to browse the internet, post on social media, play video games, and move a computer cursor with his mind. Elon Musk has said that the chip could one day help treat a wide range of conditions, such as obesity, autism, depression, and schizophrenia, and might even allow healthy individuals to use telepathy or surf the web directly with their brains.
What Is the Prediction for Tesla Stock?
When it comes to Elon Musk's companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $282.70 per share implies 16.7% downside risk.
See more TSLA analyst ratings
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37 minutes ago
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CTV News
an hour ago
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