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Elon Musk’s The Boring Company has raised $3 billion in a Series D round led by the United Arab Emirates, boosting its valuation to $23 billion. The company plans significant tunnel construction in the UAE alongside ongoing projects in the US.

The Boring Company has raised $3 billion in a Series D round led by the United Arab Emirates, increasing its valuation to $23 billion. The company plans to expand tunneling projects in the Middle East, aiming to reduce traffic congestion through underground transportation networks.