50亿元资金涌入，脑机接口正加速驶来丨每日研选

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing a resurgence with over 5 billion yuan in funding, driven by Elon Musk's announcement of mass production in 2026, alongside policy support, technological advancements, and promising market prospects [1][2]. Group 1: Policy Support - The National Healthcare Security Administration issued guidelines in March 2025 for pricing new BCI technologies, indicating a clear policy direction for long-term development [1]. - In July 2025, multiple government departments released implementation opinions to promote innovation in the BCI industry, aligning with the "14th Five-Year Plan" which identifies BCI as a new economic growth point [1]. Group 2: Technological Breakthroughs - 2025 is viewed as a pivotal year for clinical validation of invasive BCIs, with significant milestones such as the first domestic fully implanted, wireless, and functional BCI product completing its first clinical trial [2]. - Leading companies like Neuralink are advancing technology iterations and automated surgical solutions, aiming to overcome traditional invasive device limitations and reduce costs [2]. Group 3: Market Potential - The immediate application of invasive technology will focus on critical medical needs such as paralysis and speech loss, but the long-term potential extends to becoming a core interface for human-computer interaction, integrating with AI and robotics [2]. - The evolution from a "therapeutic tool" to an "interactive platform" is a key factor attracting investment and increasing sector valuations [2]. Group 4: Investment Opportunities - Focus on core segments of the supply chain, particularly high-performance, flexible implanted electrodes and low-power, high-throughput specialized chips [4]. - Non-invasive technology companies that have achieved commercialization in specific areas like rehabilitation and sleep monitoring are also worth attention due to their validated business models [4]. - Companies with integrated capabilities in device development, algorithm optimization, and clinical resource integration should be prioritized [5]. - Attention should be given to companies that can create synergies between traditional businesses and BCI, as well as those located in key BCI industry clusters [5].