Elon Musk’s Neuralink announced on Monday that it secured $650 million in its most recent funding round, coinciding with the start of clinical trials for its brain-computer interface device.
“This funding enables us to expand access to our technology—restoring independence for individuals with significant medical needs while advancing the frontier of brain interface innovation,” the company stated.
Neuralink has initiated clinical testing of its brain implant—which includes a chip that can interpret neural activity and send it to computers or smartphones—across three countries.
So far, five patients with severe paralysis are using the device to interact with digital and physical systems using only their thoughts.
The U.S. Food and Drug Administration (FDA) recently granted Neuralink’s speech-restoration implant a “breakthrough device” designation. A similar designation was given to its vision-restoring device last year.
The FDA’s breakthrough program aims to accelerate the development and review of promising medical technologies that address unmet clinical needs.
Last Wednesday, Elon Musk said he was stepping down from his advisory role with President Donald Trump to focus on his businesses, including Tesla, SpaceX, Neuralink, xAI, and the social platform X.
In related developments, media outlets reported Monday that Morgan Stanley is arranging a $5 billion debt deal for xAI, which is aiming for a $113 billion valuation in a $300 million share offering.
Neuralink’s funding round attracted investment from notable firms such as ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners, and Vy Capital.
Semafor previously reported that Neuralink had raised $600 million in a transaction that valued the company at $9 billion, ahead of the additional funding.
