The Boring Company raised $3 billion in a Series D round led by the United Arab Emirates and related investment entities, valuing Elon Musk's tunneling venture at $23 billion. The financing, which included A16Z, Sequoia Capital, Human Capital, Vy Capital, Valor Equity Partners, Temasek, Shamal Holding and Baron Capital, is earmarked to expand a UAE infrastructure partnership involving more than 150 kilometers of tunnels. That work is separate from the Dubai Loop pilot, where tunneling is planned for later in 2026. The company operates its only active transport system in Las Vegas, where the Vegas Loop has carried more than four million passengers, and is building Nashville's Music City Loop. It says its Prufrock boring technology is advancing toward more automated construction, though critics question whether its vehicle tunnels can meaningfully ease congestion given capacity, environmental and regulatory constraints.