GoKawiil
Tech News
Elon Musk said his tunneling company, The Boring Company, is developing an early-stage Hyperloop concept meant to cut travel time between Austin and San Antonio to under 30 minutes. The company's official account confirmed interest in building the project, though Musk's comment originated as a reply to an AI-generated sci-fi video rather than a formal announcement.
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.
Elon Musk's tunneling venture The Boring Company closed a $3 billion Series D funding round led by the United Arab Emirates, valuing the company at $23 billion. As part of the deal, the company plans to build more than 150 kilometers of tunnels in the UAE. Other investors include Andreessen Horowitz, Sequoia Capital, Human Capital, Vy Capital and Valor Equity Partners.