Elon Musk’s tunneling startup The Boring Company is in talks to raise $4 billion in funding at a valuation of $20 billion. According to the Wall Street Journal.
The WSJ says the deal is not closed and terms are subject to change. At $20 billion, valuation will increase significantly Boring Company valued at $5.7 billion in 2022.
The startup has already built a network of tunnels beneath Las Vegas, through which Tesla transports customers to various stations. But the tunnel workers have sustained serious injuriesAnd Nevada regulators said last year that Boring Co. Violated environmental rules almost 800 times.
The Boring Company has announced plans to build a tunnel network under nashville And Dubai. The WSJ says the startup has also launched projects in Baltimore, Chicago, and Los Angeles.
The startup spun out from SpaceX in 2018. SpaceX did this recently The biggest IPO everBut There has been a huge decline in its share price Since then.
