Neuralink's valuation has surged in just over a year. Here's what's driving the frenzy. - Business Insider

What the report says

Business Insider reported that shares of Elon Musk’s brain-computer interface company Neuralink are changing hands in private secondary-market deals at valuations as high as $42 billion, citing correspondence it reviewed and a person familiar with the matter. The reported pricing would represent a sharp jump from the company’s last known financing, which Semafor previously reported valued Neuralink at about $9 billion last year.

According to Business Insider, private-markets research firm Caplight has seen recent Neuralink transactions priced between $29 billion and $42 billion, while some would-be buyers have tried to purchase stock at levels implying a valuation near $60 billion. Because Neuralink is not publicly traded, these figures reflect negotiated private share sales by existing holders, such as employees or early investors, rather than a transparent market price. Neuralink did not comment to Business Insider.

The report frames the surge as part of broader investor enthusiasm for Musk-linked companies, especially after SpaceX’s public-market debut and the rising value of Musk’s business holdings. Business Insider also noted that some investors remain skeptical of the prices being paid, and that it is unclear whether Neuralink is formally raising new capital or what valuation the company itself would accept in a primary funding round.

Neuralink is developing implanted devices intended to let people with paralysis control computers through brain signals, with longer-term ambitions including vision restoration. Business Insider reported that the company said earlier this year that 21 trial patients had received implants. The valuation frenzy matters because it shows how expectations around Musk’s technology ventures can drive private-market demand even while Neuralink’s medical technology remains in early clinical development.