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Source: Precision Neuroscience

It happened so fast that Craig Mermel missed it. 

He was standing in a busy operating room in West Virginia, waiting for a surgeon to place Precision Neuroscience’s neural implant system onto a conscious patient’s brain for the first time. Mermel, the president and chief product officer at Precision, said he looked away for a moment, and by the time he turned back, the company’s paper-thin electrode array was in position. 

In seconds, a real-time, high-resolution rendering of the patient’s brain activity washed over a screen. According to Precision, the system had provided the highest resolution picture of human thought ever recorded. 

“It was incredibly surreal,” Mermel said in an interview with CNBC. “The nature of the data and our ability to visualize that, you know, I got… chills.”

The procedure Mermel observed was the company’s first-ever in-human clinical study.

Founded in 2021 by a co-founder of Neuralink, Elon Musk’s brain-computer interface startup, Precision Neuroscience is an industry competitor working to help patients with paralysis operate digital devices by decoding their neural signals. A BCI is a system that deciphers brain signals and translates them into commands for external technologies, and several companies like Synchron, Paradromics and Blackrock Neurotech have also created devices with this capability. Precision announced a $41 million Series B funding round in January.

The company’s flagship BCI system, the Layer 7 Cortical Interface, is an electrode array resembling a piece of scotch tape. Since it’s thinner than a human hair, Precision says it can conform to the brain’s surface without damaging any tissue, and in the study, Precision’s system was temporarily placed onto the brains of three patients who were already undergoing neurosurgery to have tumors removed. 

Since the technology worked as expected, future studies will explore further applications in clinical and behavioral contexts, Mermel said. If the trials go according to Precision’s plan, patients with severe degenerative diseases like ALS could eventually regain some ability to communicate with loved ones by moving cursors, typing and even accessing social media with their minds.

Although an in-human study is a major milestone, the road to market for this type of technology is a long one. Precision has not yet received FDA approval for its device, and the company will have to work closely with regulators to successfully conduct several extremely thorough rounds of testing and data safety collection.

As of June, no BCI company has managed to clinch the FDA’s final seal of approval.

“The goal is to deliver a device that can help people living with permanent disability, so this is like the first step,” Mermel said. “Now the real work begins.”

Doctors prepare Precision’s system. Precision’s array compared to a penny.

Photo: Anna von Scheling

A number of different academic medical centers offered to support the company’s pilot clinical study, according to Dr. Benjamin Rapoport, co-founder and chief science officer at Precision. The company partnered with West Virginia University’s Rockefeller Neuroscience Institute, and the two organizations prepared for the procedures for more than a year in advance, Rapoport said.

Rapoport, who has been working on BCI technology for more than 20 years, said seeing Precision’s technology on the brain of a human patient for the first time was an “incredibly gratifying” milestone.

“I can’t really describe emotionally what that’s like,” he said. “It was tremendous.”

Dr. Peter Konrad, chairman of the Department of Neurosurgery at the Rockefeller Neuroscience Institute, was the surgeon who physically placed Precision’s system onto the patients’ brains during their procedures.

Konrad said it was a simple process that felt like laying a piece of tissue paper on the brain. 

Patients had Precision’s system on their brains for 15 minutes. One of them remained asleep during the procedure, but two patients were woken up so the Layer 7 could capture their brain activity as they spoke. 

“I’ve never seen that amount of data, 1,000 channels in real-time, of electrical activity, just washing over the brain as somebody was talking,” Konrad said in an interview with CNBC. “It was literally like you’re watching somebody think. It’s pretty amazing.”

Electrodes are already used in practice to help neurosurgeons monitor brain activity during a procedure, but the resolution provided by conventional systems is low. Konrad said standard electrodes are about four millimeters big, while Precision’s array can put 500 to 1,000 contacts on that size.   

“It’s the difference between looking at the world with an old black and white camera versus seeing in hi-def,” he said.

Konrad said it is too early for the patients in this study to see the direct benefits of this technology.

Precision’s array compared to a penny.

Photo: Anna von Scheling

Precision ultimately hopes its technology will not require open brain surgery at all. In an interview with CNBC in January, co-founder and CEO Michael Mager said a surgeon should be able to implant the array by making a thin slit in the skull and sliding in the device like a letter into a letter box. The slit would be less than a millimeter thick – so small that patients don’t need their hair shaved for the procedure. 

Precision’s minimally invasive approach is intentional, as competing BCI companies like Paradromics and Neuralink have designed systems meant to be inserted directly into the brain tissue. 

Rapoport said that inserting a BCI into the brain would provide a clear picture of what each neuron is doing, but it risks damaging the tissue and is difficult to scale. He said that level of detail is not necessary to decode speech or achieve the other functions Precision is striving for, so it was a tradeoff the company was ultimately willing to make.  

In the coming weeks, Precision will carry out the same procedure with two more patients as part of its pilot clinical study. Rapoport said the company has submitted its initial results to a scientific journal, and that having the data publicly available will be a “huge next step.”

Precision also has similar studies in the works with health systems like Mount Sinai in New York City and Massachusetts General Hospital in Boston, and Rapoport said Precision is hoping to receive full FDA clearance for its first-generation device next year. 

“The early results for us are tremendously gratifying to see,” Rapoport said. “If you’re lucky, there’s a few times in your life when you get to sort of see something before anybody else sees it in the world.”

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Salesforce pledges to invest $1 billion in Singapore over five years in AI push

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Salesforce pledges to invest  billion in Singapore over five years in AI push

Marc Benioff, Chairman & CEO of Salesforce, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22nd, 2025.

Gerry Miller | CNBC

Salesforce on Wednesday announced plans to invest $1 billion in Singapore over the next five years.

The cloud software giant said the investment is designed to accelerate the country’s digital transformation and the adoption of Salesforce’s flagship AI offering Agentforce.

Salesforce is among the many technology companies hoping to boost revenue with generative AI features.

The company launched the newest version of Agentforce last month. It has previously described the system — which it says can tackle sophisticated questions in Salesforce’s Slack communications app, based on all available data — as the first digital AI platform for enterprises.

Salesforce CEO Marc Benioff is scheduled to speak at CNBC’s CONVERGE LIVE at around 9:25 a.m. Singapore time (9:25 p.m. ET) on Wednesday.

“We are in an incredible new era of digital labor where every business will be transformed by autonomous agents that augment the work of humans, revolutionizing productivity and enabling every company to scale without limits,” Benioff said in a statement.

“Singapore is at the forefront of this shift, and as the world’s largest provider of digital labor through our Agentforce platform,” he added.

Salesforce said Agentforce can help Singapore to “rapidly expand” its labor force in several key service and public sector roles at a time when the country is grappling with an aging population and declining birth rates.

Jermaine Loy, managing director of the Singapore Economic Development Board, welcomed Salesforce’s investment, saying it will help to boost the country’s efforts “to build a vibrant hub for AI innovation.”

— CNBC’s Jordan Novet contributed to this report.

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Reddit rallies after three-day slump as analyst calls sell-off ‘excessive’

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Reddit rallies after three-day slump as analyst calls sell-off 'excessive'

Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City.

Spencer Platt | Getty Images News | Getty Images

Reddit shares rose more than 10% on Tuesday, reversing a three-day slump that coincided with a broader decline among technology companies.

Despite Tuesday’s gains, Reddit shares are still roughly 30% below the close on Wednesday.

Reddit’s stock market upswing was likely bolstered by a Loop Capital analyst note published Tuesday that reiterated a buy rating and characterized the company’s shares as “extremely attractive.” The analyst note said that Reddit’s 50% drop on Wall Street in the past month “is excessive,” and that the social media company “has the biggest upside potential relative to Street estimates in our coverage universe.”

The company’s shares dropped more than 15% in February after the company reported weaker-than-expected fourth-quarter user numbers as a result of a Google search change that temporarily hurt its search-derived traffic. Although Reddit said at the time that it had recovered from the algorithmic shift, the user number miss spooked investors.

Reddit’s shares have since spiraled downward along with other tech companies like Apple, Nvidia and Tesla off of concerns related to President Donald Trump‘s tariffs and growing fears of a recession. The seven most valuable tech companies lost more than $750 billion in market value on Monday with Nasdaq experiencing its biggest decline since 2022.

Loop Capital managing director Alan Gould acknowledged in the note that investors are operating in a “risk-off market environment,” but he contended that Reddit “has been one of the top performing stocks over the past year,” aside from its most recent dip.

“RDDT wildly exceeded ours and Street estimates for 2024, which explains why the stock increased almost 7-fold from a $34 IPO price to a peak of $230 in less than a year,” Gould wrote, noting Reddit’s growing revenue and improved advertising tools, among other positive developments.

Reddit’s fourth-quarter sales grew 71% year over year to $428 million, which represents the fastest growth rate for any quarter since 2022.

“In our view, RDDT deserves the revaluation it had experiencing based on the growth it has shown in the recent earnings reports and future projected growth driven by the ability to narrow the ARPU gap, and data licensing possibilities,” Gould wrote.

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Waymo expands its robotaxi service again, this time to parts of Silicon Valley

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Waymo expands its robotaxi service again, this time to parts of Silicon Valley

Waymo self-driving cars with roof-mounted sensor arrays traveling near palm trees and modern buildings along the Embarcadero, San Francisco, California, February 21, 2025. 

Smith Collection/gado | Archive Photos | Getty Images

Waymo on Tuesday announced it is expanding its service to include another 27 square miles of coverage around the San Francisco Bay Area.

With the expansion, Waymo will now take passengers around Mountain View, Los Altos, Palo Alto and parts of Sunnyvale, California. The Alphabet-owned company opened its robotaxi service to the general public in San Francisco in June.

Waymo will initially limit the availability of its Silicon Valley service to users of the Waymo One app who are residents with ZIP codes in the area, the company said. Waymo plans to serve more riders across the region over time. The fleet of vehicles that will be in use in the new coverage areas are fully electric Jaguar I-Pace vehicles with Waymo’s fifth generation of self-driving sensors, software and other technology.

“Opening our fully autonomous ride-hailing service in Silicon Valley marks a special milestone in our Bay Area journey,” Waymo product chief Saswat Panigrahi said in a statement. “This is where Waymo began and where we’re headquartered.”

Waymo expanded its San Francisco Bay Area robotaxi service last summer into Daly City, Broadmoor and Colma. Its robotaxis do not yet carry passengers to San Francisco International Airport.

A spokesperson told CNBC that Waymo is in “active discussions with SFO,” and added that the company is “working to connect” Silicon Valley and San Francisco to “provide seamless autonomous rides across more of the Bay Area in the future.”

Waymo also recently launched a commercial robotaxi service in Austin, Texas, just in time for the city’s annual South by Southwest festival.

While would-be competitors including Elon Musk‘s automaker Tesla, and Amazon-owned Zoox, are continuing their own robotaxi testing and development, Waymo has pulled far ahead of self-driving companies in the U.S. 

Before Tuesday’s expansion, Waymo said it was serving more than 200,000 paid trips per week across San Francisco, Los Angeles and Phoenix.

Alphabet doesn’t disclose financial results for the autonomous vehicle business, but Waymo is part of its “Other Bets.” That business unit generated $400 million in the fourth quarter of 2024 and incurred operating losses of $1.17 billion, according to the company’s most recent financial filing.

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