Boring Company lands $3B UAE tunnel project, $23B valuation

The Boring Company raised $3 billion in a Series D round led by UAE government entities, valuing it at $23 billion, to build over 150 km of underground transportation in the UAE. This marks a major expansion for the tunneling firm, which has faced skepticism over its limited operational tunnels. The project signals UAE investment in alternative urban mobility infrastructure, though technical and regulatory hurdles remain.