GoKawiilBoring Co. hits $23 billion valuation as it pursues Middle East expansion
Elon Musk's tunneling company The Boring Co. announced a $23 billion valuation late Wednesday, alongside plans to expand into the Middle East. The firm, spun out of SpaceX in 2018, currently operates just one public loop in Las Vegas while pursuing roughly a dozen other city projects, including a contested 20-mile tunnel system under construction in Nashville.
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The steep valuation shows investors still bet heavily on Musk's underground transit vision despite the company having only one operational public route years after founding. Expanding into the Middle East, where infrastructure spending is high and regulatory hurdles can be lower, may let Boring Co. sidestep the local opposition it faces in U.S. cities like Nashville.
- Boring Co. is now valued at $23 billion and is targeting Middle East expansion.
- Its only functioning public tunnel loop remains in Las Vegas despite years of operation.
- The Nashville tunnel project has faced local resident pushback despite already breaking ground.
Elon Musk" by Walter Isaacson (hardcover) — If Boring Co.'s $23 billion valuation and tunnel ambitions have you curious how these ventures get spun up, Isaacson's biography traces the origins of SpaceX, Tesla and the tunneling side project born inside SpaceX. It's a deeply reported look at the decision-making behind the companies in this story.
See Elon Musk" by Walter Isaacson (hardcover) on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: cnbc.com — Lora Kolodny Ari Levy, 2026-09-10
Published there as: “Elon Musk's Boring Co. turns to Middle East for expansion in reaching $23 billion valuation”
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