Tesla (NASDAQ:TSLA) CEO Elon Musk’s endeavors are not just limited to electric cars or autonomous mobility. Musk is aiming to take humans to Mars, bring in humanoid robots, and promote free speech via X (formerly Twitter). Meanwhile, his brain-computer interface endeavour, Neuralink, is facing some challenges and new competition.
The First 100 Days
Neuralink’s first implant in a human brain has completed 100 days. The effort is part of a study, called PRIME, to demonstrate that the implant is safe and useful in daily activities. The participant in the study, Noland Arbaugh, has successfully used the implant to play online games and browse the internet – all by controlling the cursor with his mind.
However, the effort has also encountered some problems. The quantity of data captured from the implant declined as multiple threads placed in Arbaugh’s brain came out. Although Neuralink considered removing the implant, it ultimately decided to modify its algorithms to improve the speed of data capture.
Importantly, the findings from its first implant are expected to help Neuralink develop better devices in the future. It plans to carry out implants in two more people over the coming months.
New Competition
But before that future materializes, potential competition is already here for Neuralink. Its co-founder, Benjamin Rapoport, who exited the company in 2018 over safety concerns, has set up his own brain-computer interface venture. While Neuralink’s device is surgically implanted into patients’ brains, Rapoport aims to place the electrodes onto the brain’s surface. The approach is aimed at making the process safer.
Is Tesla a Buy, Sell, or a Hold?
Meanwhile, Tesla shares have plunged by nearly 17% over the past six months amid challenging times for the EV industry. Overall, the Street has a Hold consensus rating on the stock, alongside an average TSLA price target of $173.29.
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