The Elon Musk-founded tunnel builder is discussing a roughly $4 billion fundraising that would value the company at about $20 billion, with terms still subject to change.
The Boring Company is in talks to raise about $4 billion in new funding at a valuation of roughly $20 billion, according to people familiar with the discussions. The Elon Musk-founded tunnel builder, established in 2016, develops underground transit tunnel technology, operates the Vegas Loop in Las Vegas, and plans to expand its underground transportation networks to more cities. The round has not closed, and the proposed terms could still change, indicating the fundraising remains under negotiation.