Boring Company raises additional $675 million as investors chuck money into holes in the ground

Credit: ROBYN BECK/AFP via Getty Images

The Boring Company has raised a new round of funding worth $675 million, with Elon Musk’s grand plan to “solve traffic” with tunnels now valued at $5.675 billion., the company reiterated its goals and achievements so far, drawing particular attention to its “next generation” of Prufrock tunnel-boring machines .

“Unlike traditional TBMs which require upwards of a dozen or more people to operate, Prufrock is designed to be capable of operating completely remotely and autonomously via computerized systems and requires zero people in the tunnel to operate,” said the company. “The current iteration of Prufrock, called Prufrock-2, is designed to mine at up to 1 mile/week, meaning a tunnel the length of the Las Vegas strip can be completed in a month.

So far, The Boring Company has built just two operational 0.8-mile tunnels underneath the Las Vegas Convention Center, as well as 1.1-mile test tunnel in Hawthorne, California. The company has been pitching its services far and wide, and although

The future is having people driving along badly lit Color changing LED with speed limit along a narrow tunnel repeatedly? Sounds worse than hell

Thiel, Sacks, and a bunch of other RW venture firms...And then we wonder where Elon's 'hard turn' came from the past few years (not that it was actually a turn, he just bilked a bunch of limo libs for tax breaks and to get them to buy his vanity products).

This is absurd… what a joke

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Awesome !

Trains….

Does the boring company pay taxes on that land and all the work that goes into plotting? Or is it a one and done deal?

This headline deserves a Pulitzer

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Elon Musk's Tunnel-Making Venture Boring Company Hits $5.7 Billion ValuationThe Boring Company said it has raised $675 million in a funding round valuing the firm at $5.675 billion.
Herkunft: nbcchicago - 🏆 545. / 51 Weiterlesen »

Elon Musk's Tunnel-Making Venture Boring Company Hits $5.7 Billion ValuationThe Boring Company said it has raised $675 million in a funding round valuing the firm at $5.675 billion.
Herkunft: nbcchicago - 🏆 545. / 51 Weiterlesen »