Neuralink, Elon Musk’s Brain-Computer Interface Company, Shifts Incorporation Location From Delaware to Nevada

Moving Tesla’s State of Incorporation May Encounter Challenges, Including Potential Investor Lawsuits.

Elon Musk’s brain-chip implant company, Neuralink, changed its location of incorporation from Delaware to Nevada, according to the business portals of both states.

The development comes about a week after Musk said Tesla would hold a shareholder vote to transfer its state of incorporation to Texas from Delaware after a judge invalidated his $56 billion (roughly Rs. 4,64,880 crore) pay package.

However, switching the state of incorporation for Tesla could come with hurdles such as investor lawsuits, particularly if it was seen as a move to secure his pay package, legal experts said.

Musk said last week that Neuralink had implanted its first brain chip in a human patient, who was recovering well after the procedure.

Neuralink did not immediately respond to a Reuters request for comment.

In September 2023, the company received approval from an independent review board to begin recruitment for the first human trial of its brain implant for paralysis patients.

The study, targeting individuals with paralysis resulting from cervical spinal cord injury or amyotrophic lateral sclerosis, may qualify participants for the trial. However, the exact number of enrollees in the study was not disclosed. Neuralink estimates that the trial will span approximately six years.

During the trial, a robot will be utilized to surgically implant a brain-computer interface (BCI) in a specific brain region responsible for movement intention. Neuralink’s primary objective is to empower individuals to control a computer cursor or keyboard solely through their thoughts.