OpenAI CEO Sam Altman is turning a new page in the tech world with a new venture in the field of brain-computer interfaces. According to the latest reports, Altman is developing a new company called Merge Labs that will directly compete with Elon Musk’s Neuralink venture. The venture’s market capitalization is already reported to be around $850 million.

Sam Altman is founding a Neuralink rival venture

Funding negotiations for Merge Labs are reportedly ongoing, with the majority of the investment expected to come from OpenAI’s venture capital arm. However, no official commitment has yet been made. Sources speaking to TechCrunch emphasize that the discussions are in the early stages and the terms of the investment process are still fluid.

Sam Altman is being co-founded by Alex Blania, known for his work with Tools for Humanity. Tools for Humanity is known for its biometric eye-scan systems that allow users to verify their digital identities.

This collaboration indicates that Merge Labs will not only develop brain-computer interfaces but will also address a much broader technology ecosystem, including identity, security, and human-technology interaction.

The new venture shares similar goals with Neuralink, founded by Elon Musk in 2016 and publicly announced in 2017. Neuralink is working to enable thought-based device control using chips implanted in the human brain.

The company is currently conducting clinical trials with paralyzed patients and raised $600 million in funding in June, reaching a valuation of $9 billion. Merge Labs is entering the scene as a new but ambitious player in this race.

It is not yet clear when Merge Labs will make its public debut and when the first products will be released. However, the company’s initiative in this area brings not only a technical but also a symbolic challenge to the brain-computer interface race.