Elon Musk's tunneling venture, The Boring Company, is reportedly discussing a new funding round that could raise about $4 billion and value the startup at $20 billion. If completed, the deal would mark a major jump from its 2022 valuation of $5.7 billion.
The company has already turned its underground network in Las Vegas into a working mobility system, where Tesla vehicles transport passengers between stations. That operating model has helped position the startup as one of the most closely watched names in urban transport innovation.
Looking ahead, The Boring Company has outlined expansion plans for tunnel systems in Nashville and Dubai, while also presenting ideas for projects in cities such as Baltimore, Chicago and Los Angeles. The broader vision reflects growing interest in compact, underground transit solutions for dense urban areas.
Founded as a spinout from SpaceX in 2018, the company continues to attract attention for its blend of engineering ambition and infrastructure scale. If the funding round moves forward, it could accelerate the next phase of underground mobility and reshape how cities think about movement beneath the surface.
