Elon Musk’s Boring Company raises $3B at $23B valuation, led by UAE

The Boring Company has closed a $3 billion Series D funding round led by the United Arab Emirates, valuing Elon Musk’s tunneling venture at $23 billion. That’s roughly four times its 2022 valuation of about $5.7 billion. And most of the case for it sits in tunnels the company hasn’t dug yet.