CNBC AI News – July 24 – Elon Musk’s Neuralink, the neurotechnology company aiming to connect the human brain directly to computers, is reportedly eyeing a significant expansion of its operations, according to media reports.
Internal projections presented to investors suggest Neuralink envisions implanting its brain-computer interface (BCI) chips into approximately 20,000 patients annually by 2031, targeting a minimum of $1 billion in yearly revenue.
To achieve this ambitious goal, Neuralink is planning the establishment of roughly five major clinics over the next six years. The company is also developing at least three distinct versions of its implantable device: “Telepathy,” designed to enable direct brain-to-machine communication; “Blindsight,” focused on restoring vision to the blind; and “Deep,” engineered to treat neurological disorders like tremors and Parkinson’s disease.
Neuralink has outlined a specific timeline for its product launches and growth trajectory. It anticipates regulatory approval in the United States for its “Telepathy” device by 2029, followed by a projected 2,000 annual surgeries generating at least $100 million in revenue.
The company’s roadmap extends to 2030 with the anticipated launch of “Blindsight,” its vision-restoring chip, aiming to scale annual surgeries to 10,000 and surpass $500 million in revenue, assuming a conservative reimbursement rate of $50,000 per procedure. The ultimate objective is to reach 20,000 annual surgeries and $1 billion in revenue by 2031, signaling a bold bet by Musk on the future of brain-machine interfaces.
Data from PitchBook indicates Neuralink has already secured $1.3 billion in funding from investors, placing its current valuation around $9 billion, a testament to the market’s confidence in its potential to revolutionize treatment for neurological conditions and enhance human capabilities.
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