Latest news with #Telepathy
Time of India
6 days ago
- Business
- Time of India
Neuralink targets $1 billion revenue by 2031, Bloomberg News reports
Bengaluru: Elon Musk 's brain implant company Neuralink aims to implant its chips in 20,000 people a year, and generate at least $1 billion in annual revenue by 2031, Bloomberg News reported on Wednesday, citing investor documents. The company aims to operate five large clinics within six years and offer three versions of its brain implant, 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. Neuralink, founded in 2016, has raised about $1.3 billion from investors and is valued at roughly $9 billion, the report said, citing PitchBook. The company received the U.S. Food and Drug Administration's "breakthrough" tag for its speech restoration device in May. It had received the same tag for its vision-restoring device last year. Neuralink raised $650 million in its latest funding round last month as its brain implant enters clinical trials . It began human trials in 2024 after resolving safety concerns flagged by the FDA, which had initially rejected Neuralink's application in 2022.
The Hindu
6 days ago
- Business
- The Hindu
Neuralink targets $1 billion revenue by 2031: Report
Elon Musk's brain implant company Neuralink aims to implant its chips in 20,000 people a year, and generate at least $1 billion in annual revenue by 2031, Bloomberg News reported on Wednesday, citing investor documents. The company aims to operate five large clinics within six years and offer three versions of its brain implant, 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. Neuralink, founded in 2016, has raised about $1.3 billion from investors and is valued at roughly $9 billion, the report said, citing PitchBook. The company received the U.S. Food and Drug Administration's "breakthrough" tag for its speech restoration device in May. It had received the same tag for its vision-restoring device last year. Neuralink raised $650 million in its latest funding round last month as its brain implant enters clinical trials. It began human trials in 2024 after resolving safety concerns flagged by the FDA, which had initially rejected Neuralink's application in 2022. According to Neuralink, five patients with severe paralysis are currently using its device to control digital and physical tools with their thoughts.
Business Times
7 days ago
- Business
- Business Times
Neuralink sees US$1 billion of revenue by 2031 in vast expansion
[BOSTON] Elon Musk's brain implant company Neuralink expects to put its chips in 20,000 people a year by 2031, generating at least US$1 billion in annual revenue, in a major ramp-up of its work to treat disease and gain unprecedented access to the human mind, according to documents reviewed by Bloomberg. Within six years, the company also plans to have about five large clinics in operation, with at least three versions of its device available, according to a recent presentation shown to investors. One version, Telepathy, is for enabling communication between the brain and machines; another, Blindsight, is aimed at giving vision to blind people; and a third, Deep, would treat tremors and Parkinson's disease. The financial projections, as well as the company's work in patients with tremors and Parkinson's, have not been previously publicly reported. Representatives for Musk and Neuralink did not immediately respond to a request for comment. The company's stated goals show the enormous scale of Musk's vision for Neuralink and the ambitious timeline on which he seeks to operate. Fewer than 10 people are publicly known to have Neuralink brain devices so far as part of clinical trials, and no patients have them to restore vision or treat Parkinson's. By 2029, the company expects to gain regulatory approval in the US for its Telepathy device, and it hopes to perform 2,000 surgeries a year and generate at least US$100 million in annual revenue, according to the documents. Then by 2030, Neuralink sees the launch of its sight-restoring chip Blindsight, expanding to 10,000 surgeries a year and bringing in over US$500 million. The figures assume 'a conservative reimbursement of US$50k per surgery', the documents show. 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 Neuralink has raised US$1.3 billion from investors and is now valued at US$9 billion, according to PitchBook. Brain-computer interface companies such as Neuralink have attracted significant attention and investment in recent years for potential medical applications. No devices are approved by US regulators for permanent use in humans, as companies are still working on gathering data on safety and effectiveness. Musk has hit a number of milestones with Neuralink, though he is also known for overstating how quickly he will be able to reach technological achievements. For example, in 2015, Musk said that Tesla cars would be able to drive themselves within three years. He moved the timeline back several times and finally launched Robotaxis for testing last month. As part of clinical trials, paralysed patients have used Neuralink devices to control computers, allowing them to browse the internet, play games, and edit videos. The company has also been testing its vision implant in monkeys. Several other brain implant companies are building and testing devices to stimulate or read data from the brain. No brain-computer interfaces are approved commercially for permanent implantation by the US Food and Drug Administration. BLOOMBERG
The Star
7 days ago
- Business
- The Star
Neuralink targets $1 billion revenue by 2031, Bloomberg News reports
A 3D-printed miniature model of Elon Musk and the Neuralink logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Elon Musk's brain implant company Neuralink aims to implant its chips in 20,000 people a year, and generate at least $1 billion in annual revenue by 2031, Bloomberg News reported on Wednesday, citing investor documents. The company aims to operate five large clinics within six years and offer three versions of its brain implant, 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. Neuralink, founded in 2016, has raised about $1.3 billion from investors and is valued at roughly $9 billion, the report said, citing PitchBook. The company received the U.S. Food and Drug Administration's "breakthrough" tag for its speech restoration device in May. It had received the same tag for its vision-restoring device last year. Neuralink raised $650 million in its latest funding round last month as its brain implant enters clinical trials. It began human trials in 2024 after resolving safety concerns flagged by the FDA, which had initially rejected Neuralink's application in 2022. According to Neuralink, five patients with severe paralysis are currently using its device to control digital and physical tools with their thoughts. (Reporting by Kamal Choudhury in Bengaluru; Editing by Anil D'Silva)
Yahoo
7 days ago
- Business
- Yahoo
Neuralink targets $1 billion revenue by 2031, Bloomberg News reports
(Reuters) -Elon Musk's brain implant company Neuralink aims to generate at least $1 billion in annual revenue by 2031, driven by plans to perform 20,000 surgeries per year, Bloomberg News reported on Wednesday, citing investor documents. 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
