Elon Musk‘s brain-tech company Neuralink briefly claimed it was a “small disadvantaged business” in a federal filing—just weeks before raising $650 million and being valued at more than $9 billion.
The SDB box was checked on an April 24 federal filing with the Small Business Administration, a time when Musk was heading the Trump administration’s Department of Government Efficiency. Under SBA rules, that status is supposed to apply to companies that are at least 51% owned by socially and economically disadvantaged individuals. It can result in easier access to federal contracts.
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Neuralink later said the filing was a mistake. “Neuralink has never applied for nor received a benefit from the federal government. The box on the SAM.gov was erroneously checked and has since been updated,” a company spokesperson told CNBC on July 19.
According to Neuralink’s profile on SBA.gov, the company currently has no active or former SBA certifications, despite being self-registered as an SDB. The agency notes that such self-attestations are not verified by SBA.
The filing listed Jared Birchall as the contact. Birchall also runs Musk’s family office.
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Neuralink has implanted its brain-computer interface device into nine human patients, and aims to reach 20 implants by the end of the year. The company recently completed two surgeries in a single day for the first time.
“Neuralink will do live-changing good for ultimately millions, maybe billions, of people,” Musk said on X on July 21. “Imagine your loved one being able to walk again or your parent with dementia being able to recognize their child again.”
Co-founder DJ Seo confirmed the goal: “Our goal is at least 20 before the end of 2025.”
The company is also planning human trials of its vision-restoring “Blindsight” implant in the United Arab Emirates by 2026.
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Despite the progress, Neuralink has faced criticism, including from the deaf community, after Musk claimed the tech could help restore hearing.