Neuralink Projects USD 1 Billion Annual Revenue by 2031 with Brain Implant Expansion
Neuralink, the brain implant company founded by Elon Musk, is targeting annual revenue of at least USD 1 billion by 2031, according to investor documents cited by Bloomberg News.
The company plans to implant its chips in 20,000 people each year and operate five large clinics within six years.
Neuralink aims to offer three versions of its brain implant: Telepathy, for communication between the brain and machines; Blindsight, for restoring vision; and Deep, for treating tremors and Parkinson’s disease.
The company expects to receive regulatory approval for its Telepathy device by 2029. It plans to perform 2,000 surgeries annually with the device, generating USD 100 million in revenue.
By 2030, Neuralink anticipates launching Blindsight, increasing surgeries to 10,000 per year and generating over USD 500 million in revenue.
Founded in 2016, Neuralink has raised about USD 1.3 billion from investors and is valued at approximately USD 9 billion, according to PitchBook.
In May, the U.S. Food and Drug Administration granted a "breakthrough" designation to Neuralink’s speech restoration device. A similar designation was given last year for its vision-restoring device.
Neuralink raised USD 650 million in its latest funding round last month. The company began human trials in 2024 after addressing safety concerns that led to an initial rejection by the FDA in 2022.
Currently, five patients with severe paralysis are using Neuralink’s device to control digital and physical tools using only their thoughts.
Neuralink targets USD 1 billion in annual revenue by 2031
Plans include 20,000 implants per year and five large clinics
Three devices in development: Telepathy, Blindsight, and Deep
Source: REUTERS
