The Boring Company builds safe, fast-to-dig, low-cost transportation, utility and freight tunnels — solving traffic with Loop, powered by the Prufrock tunnel boring machine.
Crunchbase reports that North American startups raise $92 billion in Q3 2026, down 35% from the prior quarter but up 50% year over year. The decline largely reflects the absence of new megafinancings for OpenAI and Anthropic, while AI-focused companies still receive $61 billion. Nvidia’s $12.93 billion acquisition of Hugging Face leads robust M&A, while 17 venture-backed companies go public and raise just under $4 billion.
Elon Musk’s Boring Company is reportedly seeking $4 billion in funding at a $20 billion valuation. The deal has not closed, and its terms could change; the proposed valuation compares with the company’s $5.7 billion valuation in 2022. The startup operates a Tesla shuttle system in Las Vegas and has announced plans for tunnel networks under Nashville and Dubai.
