Musk's Boring Company eyes $20B valuation in new funding round — WSJ
Elon Musk's tunneling startup, the Boring Company, is pursuing a roughly $4B funding round that could value it at up to $20B — more than double its last confirmed valuation of $9.6B from September, WSJ reports exclusively. Nothing is finalized yet, but it's another sign that a Musk-led venture is seeing its valuation rise, this one built around running Tesla vehicles through its Las Vegas tunnel loop.
The Boring Company, spun off from SpaceX in 2018, is best known for the Vegas Loop — a tunnel system beneath the Las Vegas Convention Center that ferries passengers using Tesla vehicles.
According to WSJ, the company is currently in talks for a roughly $4B funding round that, if completed, could value it at up to $20B — more than double the $9.6B valuation last confirmed in September. Whether a term sheet has been signed remains unclear, and details like the final valuation and investor lineup are still fluid.
The report lands notably soon after SpaceX's record-setting IPO last month. As Musk's private ventures see fresh valuation attention, SpaceX's successful listing appears to be creating tailwinds for fundraising across the rest of his corporate group.
For Tesla shareholders, this doesn't move Tesla's own financials directly, but it's worth reading alongside other cards in this briefing covering the joint Tesla-SpaceX selloff, given how intertwined the valuations of Musk's companies have become.
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