Musk's Neuralink switches location of incorporation to Nevada


Neuralink logo and Elon Musk silhouette are seen in this illustration taken December 19 2022. REUTERSDado RuvicIllustration

Neuralink logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -Elon Musk's brain-chip implant company, Neuralink, changed its location of incorporation from Delaware to Nevada, according to the business portals of both states.

The development comes about a week after Musk said Tesla would hold a shareholder vote to transfer its state of incorporation to Texas from Delaware after a judge invalidated his $56 billion pay package.

However, switching the state of incorporation for Tesla could come with hurdles such as investor lawsuits, particularly if it was seen as a move to secure his pay package, legal experts said.

Musk said last week that Neuralink had implanted its first brain chip in a human patient, who was recovering well after the procedure.

Neuralink did not immediately respond to a Reuters request for comment.

(Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva)

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