CNBC
Elon Musk's Boring Co. turns to Middle East for expansion in reaching $23 billion valuation
Thursday, September 10, 2026
The Boring Company closed a $3 billion funding round led by investors from the United Arab Emirates. The financing valued the tunnel-boring company at $23 billion. The company was previously valued at $20 billion in 2023.
Original reporting: https://www.cnbc.com/2026/09/10/elon-musk-boring-co-uae-valuation.html