OpenAI to lead $250M investment in competitor to Elon Musk’s Neuralink: Report

OpenAI plans to back a competitor to Elon Musk’s Neuralink in the brain-computer interface market, the Financial Times reported.

Merge Labs aims to raise $250 million for a valuation of $850 million, with much of the funding coming from the maker of ChatGPT, sources told the news outlet. OpenAI co-founder Sam Altman would reportedly co-found the new company but not run it day to day. OpenAI declined to comment to the publication.

Neuralink most recently raised $650 million at a $9 billion valuation (and has received funding from Mr. Altman), according to the Aug. 12 story. Mr. Musk’s company has been implanting brain chips in patients at U.S. hospitals, including a paralyzed man at University of Miami Health System who can now control his smartphone and computer with his thoughts.