# SpaceX Posts $561 Million Unrealized Gain on The Boring Co. Stake By John Kim Canonical URL: https://www.tokenpost.com/news/business/39162 Published: 2026-10-23T17:32:39.000Z Updated: 2026-10-23T17:32:39.000Z Section: Business > The gain made up more than half of SpaceX’s other income as third-quarter net income topped $4 billion. SpaceX logged a $561 million unrealized gain on its investment in The Boring Co. during the third quarter, helping push quarterly net income above $4 billion. The gain reflected an increase in the value of SpaceX’s stake, not proceeds from a sale. It made up more than half of SpaceX’s other income for the period, while net income came in just above $4 billion. The tunneling company started as a SpaceX project in 2017 and became a separate company the following year. The Boring Co. secured $3 billion in September in a funding round that valued it at $23 billion. Backers included the United Arab Emirates and longtime Musk supporters. The company has announced about a dozen projects in cities, but public rides are currently available only in Las Vegas. Tesla vehicles carry passengers through tunnels between the downtown convention center and several casino resorts. A 2025 agreement covers about 20 miles of tunnels in Nashville, designed to connect downtown with the airport for paying passengers. In the United Arab Emirates, The Boring Co. plans to build more than 150 kilometers of tunnels, including the Dubai Loop project announced in February 2025. SpaceX also purchased $151 million worth of Tesla Megapack energy storage systems during the quarter. Separately, Tesla’s stake in SpaceX lost $142 million in the three months ended Sept. 30, as detailed in [TokenPost’s coverage of Tesla’s SpaceX stake](). ## Links in this article - [TokenPost’s coverage of Tesla’s SpaceX stake](https://www.tokenpost.com/news/business/38328)