According to people familiar with the matter, Musk's tunnel company Boring Company is negotiating a new round of financing. The post-investment valuation is expected to reach 20 billion US dollars, and the planned capital raising scale is about 4 billion US dollars. According to several people familiar with the matter, the company aims to raise 4 billion US dollars in this round of financing, but the financing has not yet been settled, and there is still a possibility that the relevant terms will change. The company independently develops tunneling machines and claims that underground excavation and construction costs are lower than traditional engineering companies. The company, which spun off from SpaceX in 2018, has built an underground transportation tunnel network on the Las Vegas Strip, and relies on Tesla vehicles to carry passengers to and from the Las Vegas Convention Center. After the completion of the 2022 round of financing, Boring Company was valued at about US$5.7 billion. The round raised a total of US$675 million. Investors include Wei Capital, Sequoia Capital, and Founder's Fund. The company promoted privately funded underground tunnel projects to cities such as Baltimore, Chicago, and Los Angeles. The plan was to rely on passenger ticket purchases to make a profit, but in the end, most projects failed to come to fruition.

According to people familiar with the matter, Musk's tunnel company Boring Company is negotiating a new round of financing. The post-investment valuation is expected to reach 20 billion US dollars, and the planned capital raising scale is about 4 billion US dollars. According to several people familiar with the matter, the company aims to raise 4 billion US dollars in this round of financing, but the financing has not yet been settled, and there is still a possibility that the relevant terms will change. The company independently develops tunneling machines and claims that underground excavation and construction costs are lower than traditional engineering companies. The company, which spun off from SpaceX in 2018, has built an underground transportation tunnel network on the Las Vegas Strip, and relies on Tesla vehicles to carry passengers to and from the Las Vegas Convention Center. After the completion of the 2022 round of financing, Boring Company was valued at about US$5.7 billion. The round raised a total of US$675 million. Investors include Wei Capital, Sequoia Capital, and Founder's Fund. The company promoted privately funded underground tunnel projects to cities such as Baltimore, Chicago, and Los Angeles. The plan was to rely on passenger ticket purchases to make a profit, but in the end, most projects failed to come to fruition.