The Boring Company is in talks to raise $4 billion at a $20 billion valuation, according to The Wall Street Journal, nearly quadrupling its $5.7 billion valuation in 2022.
Elon Musk’s tunnelling startup has never disclosed a lead investor, unlike SpaceX or xAI.
The raise lands as Musk’s public stocks wobble, as SpaceX shares dropped about 8% over two sessions following its June debt announcement, and venture capital pivots toward physical infrastructure.
Elon Musk’s tunnelling startup The Boring Company is in talks to raise $4B at a $20B valuation, according to The Wall Street Journal. If it closes, the deal would nearly quadruple the company’s $5.7 billion valuation from April 2022 and rank among the largest infrastructure-technology funding rounds of the year.
The financing remains under negotiation, and terms could still change.
