Elon Musk has announced that his brain-chip implant company, Neuralink, will no longer be incorporated in Delaware and will instead move to Nevada. This was revealed on Thursday with a notice sent to shareholders. The move came as a result of legal setbacks in Delaware, including the striking down of a $55 billion pay package for the Tesla CEO. On social media platform X (formerly Twitter), Musk recommended Nevada or Texas as the preferred states for incorporating a company.
In addition to moving Neuralink to Nevada, Musk has also expressed his desire to reincorporate Tesla, moving it out of Delaware. He ran a public poll on X asking if Tesla should move its incorporation to Texas and later stated that “the public vote is unequivocally in favor of Texas.”
Despite its reputation as the US’s incorporation capital, with more than 60% of the nation’s Fortune 500 companies incorporated there, Delaware’s advantages for large businesses may no longer be enough for Musk. His recent decisions reflect his frustration with the legal climate in Delaware.
Neuralink conducted its first human brain implant in January and aims to find a way for humans to control a computer keyboard or cursor with their thoughts. With the patient said to be recovering well, the company continues to forge ahead with its research and development goals.