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The value of Ilon Musk’s Neuralink has reached $5 billion after it received permission to test brain chips on humans.

According to Reuters, the company’s value has increased by $3 billion over the 2021 figure. The shares are now selling for $55 per unit.

Experts estimate that Neuralink will take several more years (up to 10 years) to obtain approval for commercial use of its chip.

Neuralink recently received approval from the US Food and Drug Administration (FDA) to conduct its first human clinical trial

The company said on Twitter that this decision by the US regulator is “an important first step that will one day allow our technology to help many people”.

Volunteer recruitment for clinical trials has not yet been opened.

Previously, experiments have been carried out on animals, which has led to the company being caught up in scandals.

In particular, a federal investigation began late last year. Employees reportedly complained about pressure from Musk to speed up development, leading to failed experiments.

All told, by December last year, the company had killed around 1,500 animals, including more than 280 sheep, pigs and monkeys, after experiments since 2018, according to reports.

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