According to The Wall Street Journal, Elon Musk's tunneling company, The Boring Company, is in talks for a new round of funding, aiming to raise $4 billion at a $20 billion valuation. The deal is not yet finalized, and the terms are still subject to change.

Valuation has increased compared to 2022.

If this funding round is completed under current conditions, The Boring Company's valuation will be significantly higher than its $5.7 billion valuation in 2022. This is a substantial jump for an infrastructure startup still in its expansion phase.

The Las Vegas project has been launched.

The Boring Company primarily builds underground tunnel networks. The company has already constructed a transportation system beneath Las Vegas, using Tesla vehicles to transport passengers between different stations. This is its most clearly commercialized project to date.

The report also mentioned that the company has announced plans to build tunnel networks in Nashville and Dubai, and has pitched similar projects to Baltimore, Chicago and Los Angeles, showing that it continues to expand its urban partnerships.

Compliance record remains a point of pressure.

Beyond its expansion, the company's past safety and environmental issues have also drawn attention. The report mentions serious workplace injuries among tunnel construction workers. Nevada regulators also stated last year that the company violated environmental regulations nearly 800 times.

The Boring Company was spun off from SpaceX in 2018. As part of Musk's business empire, whether the company can secure further funding and the speed of its new projects remain key areas of focus.