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A seat on a spaceship ride with billionaire Jeff Bezos went for $28 million (roughly Rs. 205 crores) during a live auction on Saturday, concluding the month-long bidding process for the sightseeing trip on the Blue Origin’s maiden voyage next month.

Within four minutes of the open of Saturday’s live phone auction, bids reached beyond $20 million (roughly Rs. 150 crores). The bidding closed seven minutes after the auction began. The identity of the winner – presumably an ultra-wealthy space aficionado – was not immediately disclosed.

The July 20 launch of Blue Origin’s New Shepard booster from West Texas would be a landmark moment as US firms strive toward a new era of private commercial space travel.

Blue Origin’s founder and Amazon executive Bezos, the world’s wealthiest man and a lifelong space enthusiast, has been racing against fellow aspiring billionaire aeronauts Richard Branson and Elon Musk to be the first of the three to travel beyond Earth’s atmosphere.

“To see the earth from space, changes you. It changes your relationship with this planet, with humanity,” Bezos said in a video before the final bidding took place, adding that his brother Mark will join him on the trip.

As the month-long bidding process leading up to the live auction closed on Thursday, the winning figure stood at $4.8 million (roughly Rs. 38 crores), fueled by entries from more than 6,000 people from at least 143 countries, Blue Origin said.

“Putting the world’s richest man and one of the most recognised figures in business into space is a massive advertisement for space as a domain for exploration, industrialisation, and investment,” Morgan Stanley analyst Adam Jonas told clients earlier this month.

While the funds raised from the event are earmarked for charity, Blue Origin is hoping to galvanise enthusiasm for its nascent suborbital tourism business.

However, Branson, who founded Virgin Galactic, may attempt to steal Bezos’ thunder by joining a possible test flight to the edge of space over the July 4 weekend aboard Virgin’s VSS Unity spaceplane, one person familiar with the matter said.

The race is fueled by optimism that space travel will become mainstream as nascent technology is proven and costs fall, fueling what UBS estimates could be a $3 billion (roughly Rs. 21,950 crores) annual tourism market by 2030.

Blue Origin and Virgin Galactic, as well as Musk’s SpaceX, have also discussed using their rockets to link far-flung global cities. UBS says that long-haul travel market could be worth more than $20 billion (roughly Rs. 150 crores), though several barriers such as air-safety certification could derail the plans.

Blue Origin has not divulged its pricing strategy for future trips.

Reuters reported in 2018 that Blue Origin was planning to charge passengers at least $200,000 (roughly Rs. 1.5 crores) for the ride, based on a market study and other considerations, though its thinking may have changed.

© Thomson Reuters 2021


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Government Eases Approval Process for FDI in Space Sector

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Government Eases Approval Process for FDI in Space Sector

India will allow 100% foreign direct investment in the manufacture of satellite systems without official approval and eased the rules for launch vehicles, a government statement said, aiming for a greater share of the global space market.

India’s space ambitions got a boost when it became the first country to land a spacecraft near the unexplored south pole of the moon in August – and the fourth to achieve a soft landing – just days after a similar Russian mission failed.

The government said in a statement late on Wednesday that foreign companies could invest in the manufacture of components and systems or sub-systems for satellites up to 100% without approval.

Foreign firms planning to build satellites in India would not require government approval up to 74% of the investment; for investment in launch vehicles, investment could go up to 49% without such approval, the statement said.

India has privatised space launches and is aiming for a five-fold increase in its share of the global launch market, which some expect to be worth $47.3 billion by 2032. India currently accounts for about 2% of the space economy.

The country hopes that liberalised rules for the space sector, long controlled by the government, will draw interest from Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, among others.

The foreign direct investment policy reform is expected to boost employment and will allow companies to set up manufacturing facilities in India, the government said in the statement.

“This will give India access to the latest tech advances and much-needed funds, not only from the country but from international investors too,” said A.K. Bhatt, director general of the Indian Space Association.

Space-related India stocks such as Paras Defence and Space Technologies , MTAR Technologies, Taneja Aerospace and Aviation and Apollo Micro Systems climbed 2% to 5% on Thursday.

© Thomson Reuters 2024


(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Neuralink Switches Location From Delaware to Nevada

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Neuralink Switches Location From Delaware to Nevada

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.

Those with paralysis due to cervical spinal cord injury or amyotrophic lateral sclerosis may qualify for the study, it said but did not reveal how many participants would be enrolled in the trial, which will take about six years to complete.

The study will use a robot to surgically place a brain-computer interface (BCI) implant in a region of the brain that controls the intention to move, Neuralink said, adding that its initial goal is to enable people to control a computer cursor or keyboard using their thoughts alone.

© Thomson Reuters 2024


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Elon Musk’s Neuralink Installs Brain Implant in Human for the First Time

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Elon Musk’s Neuralink Installs Brain Implant in Human for the First Time

Neuralink, the California-based neurotechnology company, has implanted a wireless brain chip in a human for the first time, revealed co-founder Elon Musk. The big development was revealed by Musk on January 29 via a series of posts on X (formerly known as Twitter). Neuralink has been working on creating implantable brain-computer interfaces (BCIs). Last year in May, the company received approval from the US Food and Drug Administration (FDA) to conduct human trials. In September 2023, the neurotechnology firm began its human trial recruitment.

Announcing in a post, Musk said, “The first human received an implant from Neuralink yesterday and is recovering well. Initial results show promising neuron spike detection.” He also revealed separately that the first BCI product by the company had been named Telepathy. The brain chip enables the control of a computer or a smartphone just by thinking, claimed the co-founder. Interestingly, the company posted a video on YouTube in 2021 where a monkey could be seen controlling a game of ping-pong with his mind, after being implanted with the chip.

“Imagine if Stephen Hawking could communicate faster than a speed typist or auctioneer. That is the goal,” he added. The first users of the product will be those who have lost the use of their limbs.

While Neuralink received its FDA approval to conduct human trials last year, it rejected an application to pursue the same in 2022. At the time, the regulatory body had cited major safety concerns involving “the device’s lithium battery; the potential for the implant’s tiny wires to migrate to other areas of the brain; and questions over whether and how the device can be removed without damaging brain tissue,” as per a report by Reuters.

In a 2019 presentation, Musk explained that Neuralink BCIs were composed mostly of polyimide alongside a thin gold or platinum conductor. These were inserted into the brain through an automated process performed by a surgical robot. The chip contains a high number of ultra-thin nodules with wires called probes. The endings of these probes contain electrodes that are capable of locating and reading electrical signals in brain. These signals are then wirelessly transmitted to a device which can convert it into electronic commands to control a device.

In the past, the company has conducted extensive tests on animals and has claimed a high success rate. While performing a successful brain chip implant is a major milestone, the success of the product will be determined by its long-term performance and lack of side effects.


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