Elon Musk's brain implant company Neuralink said Monday that it had raised $650 million in its latest funding round.

The funding gives Neuralink a valuation of $9 billion. The last time the Neuralink startup was valued was in 2023, when it was pegged at $3.5 billion.

Since then, Neuralink has successfully implanted chips into the brains of three people paralyzed or unable to speak. The most recent was an Arizona man with ALS, better known as Amyotrophic Lateral Sclerosis or Lou Gehrig's disease, who was able to speak thanks to a Neuralink chip.

It closed its latest funding round with participation from key investors including ARK Invest, DFJ Growth, Founders Fund, G42, Human Capital, Lightspeed, QIA, Sequoia Capital, Thrive Capital, Valor Equity Partners and Vy Capital, the company said.

"This funding helps us bring our technology to more people — restoring independence for those with unmet medical needs and pushing the boundaries of what's possible with brain interfaces," Neuralink said.

Neuralink is in the process of testing its implant, which is intended to help people with spinal cord injuries.

According to the company, the device allowed its first patient to play video games, browse the internet, post on social media and move a cursor on his laptop directly with his brain.

Neuralink received the U.S. Food and Drug Administration's "breakthrough" tag for the device last month.

• Musk's Neuralink Raises Cash at $9 Billion Valuation