Elon Musk’s brain-tech venture Neuralink has secured a new round of funding, raising approximately $600 million and pushing the company's valuation to a staggering $9 billion, according to a report from Semafor citing individuals familiar with the deal. The funding marks a substantial leap from previous estimates and reflects growing investor confidence in Neuralink’s ambitious plans to merge the human brain with advanced computing.

In 2023, Neuralink was estimated to be worth around $5 billion, based on private stock transactions reported by Reuters. Before this latest funding, the company had previously raised $280 million in a round led by Founders Fund, a firm associated with tech investor Peter Thiel. Bloomberg had reported in April that Neuralink was seeking to raise $500 million, but the final amount appears to have exceeded that target. Neuralink declined to comment when contacted by Reuters.

Neuralink is currently in the early stages of testing its brain-computer interface device on human patients. The implant is designed to assist individuals with severe neurological conditions, such as spinal cord injuries. In a significant breakthrough, the first patient fitted with the device was able to perform digital tasks like playing video games, browsing the internet, using social media, and controlling a computer cursor—using only brain activity.

This month, Neuralink received a “breakthrough device” designation from the U.S. Food and Drug Administration (FDA), a status that speeds up the regulatory process for technologies considered to have life-altering potential. This regulatory nod underscores the growing credibility of Neuralink's experimental technology and brings it one step closer to broader clinical use.

Elon Musk has long described futuristic goals for Neuralink that go beyond therapeutic applications. He envisions a world where even healthy individuals might walk into local clinics for quick, minimally invasive chip implantation procedures. These devices, according to Musk, could one day be used to treat mental and neurological conditions such as depression, schizophrenia, obesity, and autism—or even to enable humans to surf the web and communicate telepathically.

As Neuralink moves forward with testing and development, the recent capital injection will likely be used to accelerate clinical trials, expand the company’s workforce, and further refine the device for wider use. While the technology remains experimental, investor interest and regulatory progress suggest that Neuralink may be closer than ever to making its sci-fi-inspired vision a reality.