Brain chip: Sondrel soared 105.9% after Mail Online revealed it helped with the development of the Neuralink brain chip
The value of Aim-listed Sondrel more than doubled following reports it played a key part in Elon Musk’s Neuralink brain chip.
Shares in the Berkshire firm soared 105.9 per cent, or 6.3p, to 12.25p, adding over £5million to its £5million market cap, after Mail Online revealed Sondrel assisted with semiconductor technology that allows Neuralink’s implants to function.
Sondrel is one of a handful of firms capable of supplying the higher-spec chips required. Others are in Asia and considered vulnerable to Chinese interference.
Neuralink, set up in 2016, is working on a device that can be embedded in a person’s brain to record and potentially stimulate activity.
Musk has said the implants could allow users with disabilities, such as the late Stephen Hawking, to move their bodies using their thoughts.
But safety fears meant Neuralink struggled to gain approval for human trials, while some experts have said the tech could be abused for ‘neurosurveillance’.
It was able to start testing the chip on humans after getting the go-ahead from the US Food and Drug Administration in September.
According to Mail Online, Neuralink called on Sondrel for its expertise in designing the most complex chips.
Yesterday, Sondrel acknowledged the report and share price movement but said it did not comment on the identity of its customers.
‘The group’s customer base continues to include leading global technology brands,’ it said.
The firm is led by chief executive Graham Curren, who graduated in electronic engineering from Leeds University.
He founded Sondrel in 2002 after identifying a gap in the market for a company specialising in complex chip design.