Elon Musk’s Boring Company is in discussions with investors about a new funding round that would value the company at about $20 billion, according to reports. The funding talks include raising roughly $4 billion, which would mark a significant step in the startup’s efforts to secure additional capital for its tunneling business. The Wall Street Journal reports that the company is seeking the valuation as part of the round, while Investing.com also describes the effort to reach a $20 billion valuation amid the discussions. Details such as the identity of prospective investors, the final size of the round, terms, and timing are not specified in the available summaries. Both outlets frame the development as an effort to raise substantial new funds and reach a higher implied valuation for the company. As talks are ongoing, the amount raised and the valuation target could change depending on negotiations and market conditions.