The Boring Company

On 20 September 2026 Elon Musk said The Boring Company is working on a 'simple, precursor Hyperloop' tunnel linking Austin and San Antonio at speeds above 200 mph, cutting a journey that can take up to 2.5 hours in I-35 traffic to a consistent under 30 minutes. Bloomberg and TechCrunch both reported the statement the same day; the roughly 80-mile corridor would be the company's first intercity project, far beyond the short urban loops it operates today. No contract, route approval, funding or timeline was disclosed, so this reads as a stated direction of travel rather than a booked project.

Source: Bloomberg

The Boring Company closed a $3 billion Series D on September 9, 2026, at a $23 billion valuation — about four times the $5.7 billion it was worth after the 2022 Series C. • Lead: the United Arab Emirates and affiliated investment entities. Participants include Sequoia, Andreessen Horowitz, Temasek, Valor Equity Partners, Vy Capital, Human Capital, Shamal Holding, and Baron Capital. • Use of funds: more than 150 km of tunnels across the UAE, building on the Dubai Loop project. The company puts the Dubai build at $545 million over roughly three years. • Unusual terms: per the WSJ, some investors were told they'd have to actively help the business — recruiting staff, or making introductions to government officials in cities where Boring wants to dig. The company reportedly kept the right to buy back shares from investors who don't deliver. • Vs. the earlier report: in late July the WSJ said Boring was in talks for $4 billion at $20 billion. It landed at $3 billion and $23 billion instead.

Source: Bloomberg