Kiel Porter

Boring Co.’s $23 Billion Valuation Rests on an Unfinished Tunnel Build-Out

Bloomberg’s Kiel Porter reports that Elon Musk’s Boring Co. has raised $3 billion from the United Arab Emirates and affiliated investors at a $23 billion valuation, four times its previous level. The funding backs a broader tunnel expansion effort, but Porter says the company’s delivery record leaves its 2027 targets for a 60-mile Las Vegas network and Nashville’s 10-mile Music City Loop looking unlikely.