Elon Musk Switches Neuralink Location of Incorporation to Nevada
Billionaire Elon Musk's cybernetic implant company, Neuralink, has changed its location of incorporation from Delaware to Nevada, state records show.
Neuralink Moves Incorporation to Nevada
Neuralink, the cybernetic implant company owned by Elon Musk, has relocated its incorporation from Delaware to Nevada. This move comes shortly after Musk announced that Tesla, his other company, would hold a shareholder vote to switch its incorporation to Texas. The decision to move Neuralink's incorporation may be influenced by the recent voiding of Musk's $56 billion pay package.
Musk publicly expressed his dissatisfaction with incorporating a company in Delaware after the ruling on his pay package. He posted on X, formerly Twitter, saying, 'Never incorporate your company in the state of Delaware.' Neuralink has not yet provided a comment on this matter in response to FOX Business' request.
Texas vs. Delaware
Last week, a Delaware judge ruled against Musk's $56 billion pay package at Tesla, siding with shareholders who argued it was unfair. In response, Musk conducted a poll on X, asking whether Tesla should change its state of incorporation to Texas. The majority vote was in favor of Texas, with 87.1% voting 'Yes' and 12.9% voting 'No' out of over 1.1 million users.
Musk then announced that Tesla would proceed with a shareholder vote to transfer its incorporation to Texas. However, legal experts suggest that this move may face challenges, especially if it is seen as an attempt to secure Musk's pay package. Investor lawsuits could arise as a result.
Neuralink's Advancement and Purpose
While the focus has been on Tesla's legal battles and incorporation switch, Neuralink has achieved a significant milestone. Musk revealed that Neuralink successfully implanted its first brain chip in a human patient, who is reportedly recovering well. Neuralink had previously announced an open recruitment for its first-in-human clinical trial of its wireless brain-computer interface (BCI) known as the PRIME study. The trial aims to assess the safety and effectiveness of the implant in enabling paralyzed individuals to control external devices with their thoughts.
Musk shared his vision for Neuralink, stating that the technology, named Telepathy, would allow users to control their phones, computers, and other devices simply through their thoughts. The initial focus will be on individuals who have lost the use of their limbs, with the goal of enabling them to communicate faster and more efficiently than traditional methods.