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Elon Musk‘s brain implant startup Neuralink, which was valued at close to $2 billion (roughly Rs. 16,500 crore) in a private fundraising round two years ago, is now worth around $5 billion (roughly Rs. 41,300 crore) based on privately executed stock trades described to Reuters by five sources with knowledge of the matter.

Some purchases by bullish investors boosted the valuation in recent months, ahead of Neuralink’s May 25 announcement that U.S. regulators had approved a human trial on its brain chip, the sources said.

Experts have said it could take several years for Neuralink to secure commercial use clearance. Kip Ludwig, former program director for neural engineering at the U.S. National Institutes of Health (NIH), said he “optimistically” expected Neuralink to take at least 10 more years to commercialize its brain implant. The company also faces other challenges that include federal probes into its handling of animal research.

Following the trial’s approval, however, Neuralink shares were marketed privately to investors in recent days at a $7 billion (roughly Rs. 57,900 crore) valuation, equivalent to $55 (roughly Rs. 4,500) per share, according to an email seen by Reuters. Reuters could not establish whether the seller found buyers for that price. The email cited the U.S. Food and Drug Administration’s (FDA) approval of the clinical trial as grounds for the deal being “sweeter.”

Neuralink executives and Musk did not respond to requests for comment.

Musk has expressed grand ambitions for Neuralink, saying its chip would allow healthy and disabled people alike to pop into neighbourhood facilities for speedy surgical insertions of devices to treat obesity, autism, depression and schizophrenia. He even sees them being used for web-surfing and telepathy. A Neuralink executive recently gave more modest short-term objectives, such as helping paralyzed patients communicate through computerized text without typing.

The stock transactions at a valuation of around $5 billion (roughly Rs. 41,300 crore) have been carried out by shareholders such as employees and the company’s early backers, rather than Neuralink selling new shares to investors. Such so-called secondary trades are an imperfect gauge of a company’s value; their volume is thin and they lack the wider market consensus of a fundraising round or initial public offering (IPO).

Neuralink’s valuation jump in secondary trades is in sharp contrast to other startups. About 85percent of pre-IPO companies are currently valued in secondary trades at an average discount of 47 percent to their last funding round, according to data provider Caplight.

In Neuralink’s last known fundraising in 2021, it raised $205 million (roughly Rs. 1,700 crore) at an approximately $2 billion (roughly Rs. 16,500 crore) valuation, according to data provider Pitchbook.

Many of the recent stock sales have been to relatively small investors, who typically focus more on getting a slice of a company owned by Musk than scrutinizing its valuation. The maximum amount sought for the Neuralink shares marketed for sale at a $7 billion (roughly Rs. 57,900 crore) valuation was just $500,000, according to the email seen by Reuters.

Sim Desai, chief executive of Hiive, an online platform where the shares are traded, said demand for Neuralink stock has been “tremendous.” He pegged the valuation that buyers are willing to pay at around $4.5 billion (roughly Rs. 37,200 crore).

Some biomedical experts are skeptical. Arun Sridhar, a scientist and entrepreneur who specializes in neuromodulation, called Neuralink’s valuation “bonkers” based on how early the brain implant is in its clinical development.

“A study to assess safety and tolerability is in no shape or form valid to justify a $5 billion (roughly Rs. 41,300 crore) valuation,” said Sridhar, who helped launch Galvani Bioelectronics, a developer of implants backed by GSK Plc and Alphabet Inc’s Verily Life Sciences. Galvani is not a competitor of Neuralink because its implants under development will be installed in an artery to the spleen to help treat rheumatoid arthritis, rather than the brain.

Investigations

The FDA initially rejected Neuralink’s request for a human trial last year, citing safety reasons, Reuters has reported. Even after securing approval, the company faces several challenges.

Neuralink has come under scrutiny from U.S. lawmakers after Reuters reported in May that its animal-research board may have violated conflict-of-interest regulations. Neuralink employees who sat on that board, which oversees the welfare of the animals that were being tested, also stood to benefit from the implant’s quick development. Neuralink stock that some of the employees hold has jumped around 150 percent in value in just two years, based on the secondary trades.

The law enforcement arm of the U.S. Department of Agriculture has been investigating Neuralink for potential animal-welfare violations. Neuralink staff told Reuters last year that the company was rushing and botching surgeries on monkeys, pigs and sheep, resulting in far more animal deaths than necessary, as Musk pressured staff to receive FDA approval.

The Department of Transportation is separately probing whether Neuralink illegally transported dangerous pathogens on chips removed from monkey brains without proper containment measures.

Neither Musk nor Neuralink have responded to multiple requests for comment on the probes or the Reuters reports.

© Thomson Reuters 2023
 


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NASA Hubble Space Telescope Helps Confirm the First Solitary Black Hole

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NASA Hubble Space Telescope Helps Confirm the First Solitary Black Hole

For the first time, the existence of a lone black hole has been confirmed by scientists. This black hole has no star orbiting it. According to the statement by Kailash Sahu, astronomer at the Space Telescope Science Institute in Baltimore, “it’s the only one so far”. The discovery made headlines in the year 2022, when Sahu and his Team claimed a dark object was moving through the constellation Sagittarius. However, another team of researchers disputed the claims by identifying the object as a neutron star.

About the Discovery

This discovery came into the light three years ago. All the stellar-mass black holes are accompanied by stars that betray their presence and race around an invisible star, along with three times the sun’s mass. Such a procedure indicates the presence of black holes rather than a neutron star.

On the contrary, the solitary black holes are expected to be common, but are very hard to find. Likewise, the one in Sagittarius was identified while passing through the dim background star and additionally shifting its position due to the black hole’s gravity. Recently, Sahu’s efforts were reported in the Astrophysical Journal, about the new observations from NASA’s Hubble Space Telescope, confirming the presence of a lone black hole in Sagittarious.

Black Hole Key Findings

Although the passage occurred first in the year 2011, the original discovery relied on the Hubble measurements from the year 2011 to 2017. However, the new data has been gained from the Hubble observations from the year 2021 to 2022, accompanied by the data received from the Gaia Spacecraft.

How Big is a Black Hole?

The ideal size of this lone black home is seven times as huge as the sun. In recent observations, a different team of scientists revisited the project and identified the size as massive as six times that of the sun. The theories of the scientists match with that of Sahu’s observation.

The research continues for detecting the black holes in Sagittarius. Located at a distance of 5,000 light years away from Earth, this solitary black hole is yet to be observed from different aspects. The astronomer, Sahu, hopes to find more lone black holes with the effective use of the Nancy Grace Roman Space Telescope, which is set to launch in the year 2027.

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Mars’ Carbonate Mystery and Ancient Atmosphere Deciphered

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Mars’ Carbonate Mystery and Ancient Atmosphere Deciphered

The evolution of Mars and its ancient atmosphere has been a prominent research topic for scientists. NASA’s Curiosity Mars rover could potentially be the ultimate solution for the temperature and other details about the planet. As per the assumptions made by the researchers, Mars’s atmosphere was crafted with a thick layer of carbon dioxide whereas the surface comprised liquid water. Likewise, the presence of carbonate minerals on the planet would be the result of a potential reaction between water, carbon dioxide, and Martian rocks, researchers say.

Presence of Siderite Detected

Recently reported in the April paper of Science, the presence of siderite has been discovered within the sulfate-rich rocky layers of Mount Sharp on Mars. The discovery was made at three of Curiosity’s drill sites.

According to the lead author and Associate Professor at the University of Calgary, Canada, Benjamin Tutolo, “The discovery of abundant siderite in Gale Crater represents both a surprising and important breakthrough in our understanding of the geologic and atmospheric evolution of Mars”.

About the Drilling Process

To achieve an understanding of the chemical and mineral makeup at the surface of Mars, Curiosity drills three to four centimeters down into the subsurface. Further, the powdered rock samples are then dropped into the CheMin instrument. This instrument analyses the rocks and soil via X-ray diffraction. The CheMin instrument is driven by NASA’s Ames Research Centre in California’s Silicon Valley.

The data analysis of the discovery was conducted by scientists at the Astromaterials Research and Exploration Science (ARES) Division at NASA Johnson Space Center in Houston.

Potential Findings and Atmosphere at Mars

The discovery of this carbonate mineral could potentially be hiding other minerals beneath the surface, in near-infrared satellite analysis. The possible presence of carbonates in sulfate-rich layers across Mars may result in the amount of carbon dioxide, which will be ideal to support the liquid water and create conditions warm enough to sustain water. Also, the scientists doubt the existence of other carbonates, or maybe they might have vanished from space.

To Conclude

The missions and analyses are still undergoing, and they will continue the research in the future. The findings can be confirmed post-research on the sulfate-rice area on the red planet. As the findings arrive, they will help us understand the transformation of the planet and will offer clarity on the ancient atmosphere.

Note: Curiosity is a part of NASA’s Mars Exploration Program (MEP) portfolio. It was built by NASA’s Jet Propulsion Laboratory, managed by Caltech in Pasadena, California. The mission is successfully led by JPL on behalf of NASA’s Science Mission Directorate in Washington.

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JWST Might Have Revealed New Signs of Alien Life on Nearby Exoplanet

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JWST Might Have Revealed New Signs of Alien Life on Nearby Exoplanet

Scientists discovered suitable biosignature gases for alien life on planet K2-18b. On K2-18b, NASA’s James Webb Space Telescope (JWST) noticed dimethyl sulfide (DMS), a chemical primarily produced by living creatures on Earth. Notably, the exoplanet is nine times the size of our planet and exists in the habitable zone of its planetary system. As exoplanets pass in front of their home stars, the team probes planetary atmospheres using JWST’s Mid-Infrared Instrument (MIRI). Based on its size and other properties, astronomers think K2-18b is a “Hycean” world—that is, one with a large liquid-water ocean and a hydrogen-rich atmosphere.

Although the researchers estimate concentrations of more than 10 parts per million by volume on Earth, they are less than one part per billion. However, further research is required to confirm and expand on their findings.

NASA’s Webb Telescope Finds Possible Life Signs on Exoplanet K2-18b

According to a new study, which was published in The Astrophysical Journal Letters, chemical proof of life on the far-off exoplanet K2-18b has come from NASA’s James Webb Space Telescope. Rare on other planets or moons, these signals, which point to the presence of dimethyl sulfide and dimethyl disulfide, are found in marine plants and bacteria on Earth.

Because K2-18b boasts a hydrogen-rich atmosphere and a planet-wide ocean, researchers classify it as a “hycean world.” Methane and carbon dioxide, found in the planet’s atmosphere in 2023, were the first carbon-based compounds found in the habitable zone of an exoplanet. Though the levels had minimal statistical significance, the researchers also found likely DMS signals, therefore confounding DMS diagnosis. The results underline the possibilities of life on exoplanets.

JWST Data Hints at High Sulfur Levels on Exoplanet, Life or Not

MIRI observations from the JWST expose features in planetary atmospheres that point to DMS or DMDS helping to explain them. Scientists estimate that atmospheric DMS and DMDS levels could be substantially greater than on Earth, that is, above 10 parts per million. Differentiating DMS from DMDS requires more data. Scientists want to investigate undiscovered chemical processes involving no living entities able to generate DMS and DMDS from nothing.

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