Musk's Neuralink switches location of incorporation to Nevada
Neuralink logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights
Feb 9 (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 (TSLA.O) 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.
Sign up here.
Reporting by Akash Sriram in Bengaluru; Editing by Anil D'Silva
Our Standards: The Thomson Reuters Trust Principles.
