Rival of Elon Musk's Neuralink cleared by FDA for brain implants

The U.S. Food and Drug Administration has approved a core component of a neurotech brain implant system from a rival company to Elon Musk's.

CNBC reported that Precision Neuroscience announced on Thursday that the company has received approval for its brain-computer interface, or BCI, called the "Layer 7 Cortical Interface."

The brain chip translates neural signals into commands for external technologies.

The company's website states that its goal is to help patients with...