Neuralink eyes $1B annual revenue by 2031 – report

Elon Musk’s brain implant company Neuralink aims to implant its chips in 20,000 people annually by 2031, potentially generating over $1 billion in yearly revenue, according to documents reviewed by Bloomberg.

The plan marks a significant expansion of Neuralink’s efforts to treat neurological conditions and explore new frontiers in interfacing with the human brain.

According to the report, Neuralink plans to operate five major clinics within six years and offer three versions of its brain implant: Telepathy, enabling brain-to-machine communication; Blindsight, aimed at restoring vision; and Deep, designed to treat tremors and Parkinson’s disease.

The company expects to receive regulatory approval for Telepathy by 2029, with a target of 2,000 surgeries per year and projected revenue of $100 million, the report said. By 2030, Neuralink plans to launch Blindsight, scale up to 10,000 surgeries annually, and generate over $500 million in revenue.

Founded in 2016, Neuralink raised $650M through its latest funding round last month. Before this latest funding round, Neuralink was valued at $9B.

It also revealed that five patients with severe paralysis are now successfully using a Neuralink implant to control digital and physical devices with their thoughts.

Musk also runs Starlink (STRLK), SpaceX (SPACE), xAI and X.