In a recent clinical trial conducted by Neuralink, founded by Elon Musk, a man named Terry, diagnosed with amyotrophic lateral sclerosis (ALS), successfully communicated words for the first time since losing his ability to speak. This breakthrough utilized brain-computer interface technology to translate his brain signals into speech. However, with Neuralink still a private company, investors are seeking alternatives in the brain-interface field.
Two public companies on the watchlist include Butterfly Network Inc. (BFLY) and Quantum-Si Inc. (QSI). Butterfly has a direct connection to brain-interface development, having entered an agreement with Merge Labs, a software company backed by OpenAI, which could generate up to $74 million over five years. Butterfly reported a 39% revenue increase to $32.6 million in Q2 2023. Meanwhile, QSI, which specializes in protein-analysis equipment, reported just $344,000 in revenue last quarter and has seen significant trading activity, with 20.5 million shares changing hands on September 29, compared to a daily average of 2.85 million shares.
Both companies illustrate distinct opportunities for investors interested in brain-interface technologies—one through direct involvement and partnerships, and the other through speculative research tools. The upcoming earnings report for Butterfly on October 30 is anticipated to influence trading activity further.
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