LAS VEGAS — The Boring Company is putting real money behind its underground ambitions. Elon Musk's tunneling venture has closed a $3 billion Series D funding round that values the company at roughly $23 billion, giving it the capital to scale the Vegas Loop and carry its people-moving tunnels to new cities across the country.
The raise arrives as the Vegas Loop — the network of tunnels beneath Las Vegas where Tesla vehicles ferry passengers between stations — is expanding faster than at any point in its history. The company says its station count will double by the end of the year, and it is already extending the system southward toward Paradise and Tropicana, with a future connection to Harry Reid International Airport in its sights. That momentum builds on the company's recently unveiled 200-mph Austin-to-San Antonio tunnel concept.
From One City To Many
"The Vegas Loop proved what is possible, and the $3 billion raise will fund expansion to more cities in the US and abroad," said investor Baris Akis, capturing the thesis behind the round. The company has publicly targeted Nashville, Tennessee and downtown Austin as next steps, and it recently broke ground on the Nashville Music City Loop.
The strategy leans on The Boring Company's core bet: that faster, cheaper tunneling can make underground transit practical for cities that could never justify traditional subways. Every station added in Las Vegas and every new metro on the map is meant to demonstrate that the model travels.
