00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Boring Company raised $3 billion in a funding round led by the UAE and affiliated
00:08investment entities, valuing Elon Musk's tunneling company at $23 billion, according to a company
00:15statement. The company said the expanded UAE partnership could eventually include more than
00:21150 kilometers or 93 miles of underground infrastructure. The planned expansion builds
00:29on its previously announced Dubai Loop project. Other investors in the funding round included
00:35Human Capital, Vi Capital, Valor Equity Partners, Sequoia Capital, A16Z, Temasek, Shamal Holding,
00:43and Barron Capital. Musk celebrated the funding announcement on X, writing,
00:48Congrats, Boring Company team. For all things money, visit Benzinga.com.
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