Elon Musk's Boring Company is reportedly in discussions to raise a fresh round of financing that would value the tunneling venture at roughly $20 billion, a staggering figure for a company that began by digging test holes in the streets of Los Angeles. The reported talks would cement the startup's transformation from a Musk side project into one of the most richly valued infrastructure technology companies in the world.
Enthusiasm for the company extends beyond underground traffic solutions. The Boring Company has built and operated the Las Vegas Convention Center Loop, an electric-vehicle transit system that shuttles attendees beneath the sprawling expo grounds, and has pitched additional tunnel networks for cities choking on surface congestion. Investors appear to be pricing in a future where fast, low-cost tunneling becomes a core layer of urban transportation, and possibly of the utility corridors that power-hungry AI data centers increasingly require.
Musk's long queue of ventures complicates the picture: Tesla, SpaceX, xAI and Neuralink all compete for attention and balance-sheet support, and the Boring Company has periodically absorbed assets and ideas from the wider Musk portfolio. Whether this round is led by outside institutions or friendly insiders will shape how independent the company's future really is.
If the $20 billion mark holds, the raise would signal that investors are willing to back hard, physical infrastructure as the next frontier for Musk-style engineering, far beyond rockets and cars.
