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Elon Musk’s brain implant company Neuralink is planning to raise about $500 million at a pre-money valuation of $8.5 billion, Bloomberg News reported Wednesday, citing people with knowledge of the matter.
The company has begun preliminary discussions with potential investors about the funding round, according to the report.
Terms of the funding round are not yet finalized.
Neuralink did not immediately respond to a Reuters request for comment.
The company is in the process of testing its device, which is intended to help people with spinal cord injuries.
The device has allowed the first patient to play video games, browse the internet, post on social media and move a cursor on his laptop directly with his brain.
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