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Elon Musk’s tunneling startup The Boring Company is in talks to raise a $4 billion funding round at a $20 billion valuation. According to the Wall Street Journal.
The WSJ says the deal has not yet closed and terms could change. At $20 billion, the valuation would be a significant increase from The Boring Company is valued at $5.7 billion in 2022.
The startup has already built a network of tunnels under Las Vegas, through which Tesla cars transport customers to different stations. But the tunnel workers have He was seriously injuredNevada regulators said last year that The Boring Company Environmental regulations were violated nearly 800 times.
The Boring Company announced plans to build tunnel networks Under nashville And Dubai. The startup has also pitched projects in Baltimore, Chicago and Los Angeles, the Wall Street Journal says.
The SpaceX startup launched in 2018. SpaceX recently launched The largest IPO everbut Its stock price has fallen dramatically since then.
