Recent secondary market trades have driven Neuralink’s implied valuation to $42–60 billion as of mid-to-late October 2026, roughly four to six times the $9–10 billion post-money level from its 2025 Series E. Clinical momentum underpins this repricing: the company reports 12–21 implanted patients, FDA breakthrough designations for vision restoration and speech-to-text, successful robotic-arm control demonstrations, and trial expansions into Canada and the UK. Technical updates, including an 11.32 bits-per-second cursor record from foundation models trained on tens of thousands of hours of neural data, further support trader optimism. With resolution only two months away, additional patient milestones or regulatory clearances could sustain or accelerate secondary pricing, while any trial setbacks or delays would likely exert downward pressure on implied odds.