Musk's Boring Company reportedly raising $4B at $20B valuation

What's the deal? Elon MuskDealroom has a profile for this one. Try Dealroom →'s Boring Company is reportedly raising $4 billion at a $20 billion valuation, according to TechCrunch and The Wall Street Journal. The tunnelling startup builds underground transport systems designed to ease surface traffic. The deal hasn't closed and the terms could change.

What's the endgame? The company aims to construct high-speed tunnels that route vehicles below cities. Fresh capital would fund expansion of that infrastructure. The reported $20 billion figure marks a significant step up from the Boring Company's $5.7 billion valuation in 2022.

The signal: The reported $20 billion valuation places the Boring Company among Musk's more richly valued ventures, signalling continued investor appetite for his network of companies despite the capital-intensive nature of underground infrastructure.

Read more: TechCrunch · The Wall Street Journal