Musk's Neuralink raises $650 million as clinical trials begin

Neuralink has raised $650 million in its latest funding round as it begins clinical trials for its brain implant device. The company aims to "restore independence for those with unmet medical needs and pushing the boundaries of what's possible with brain interfaces."

The device allows five patients with severe paralysis to control digital and physical devices using their thoughts. Neuralink recently received "breakthrough" designation from the FDA for its speech restoration device and had a similar designation for its vision restoration device last year.

Key investors, including ARK Invest and Sequoia Capital, participated in this funding round.