Neuralink Ditches Delaware for Nevada Incorporation Instead
Elon Musk’s Neuralink, known for its brain implant technology, has officially relocated its incorporation from Delaware to Nevada.
This strategic move was confirmed by the Nevada Secretary of State’s office and communicated to the company’s shareholders via a notice. The shift, finalized on Thursday, comes in the wake of Musk’s public criticism of Delaware, where he faced a legal setback regarding his Tesla compensation package.
A Delaware judge recently invalidated Musk’s $55 billion compensation package from Tesla, inciting a response from Musk on X.
In a post dated January 30, 2024, Musk said, “Never incorporate your company in the state of Delaware,” echoing his dissatisfaction with the state’s legal environment. This post garnered significant attention, receiving over 170,000 reactions and sparking widespread discussion.
Shareholders of Neuralink were informed through a notice, which Bloomberg had access to, that their shares in the Delaware-based corporation would be transitioned to shares in the newly established Nevada corporation.
This corporate migration coincides with Musk’s announcement last week that Neuralink had successfully implanted a device in a human patient for the first time, marking a significant milestone in the company’s pursuit of merging human consciousness with artificial intelligence. The decision to move Neuralink’s incorporation to Nevada reflects Musk’s broader strategy and response to the legal challenges encountered in Delaware.