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Photo: Robyn Beck / POOL / AFP/Getty Images.

The Boring Company, Elon Musk's transportation tunneling startup, raised $120 million toward a venture valued at $920 million.

Why it matters: This is Boring's first outside investment round, having previously raised $113 million from Musk and early employees (plus that $10 million from flamethrower sales).

  • Investors reportedly include 8VC, Vy Capital, Craft Ventures, Valor Capital and Steve Jurvetson's Future Ventures.

Bottom line: "In May, Boring won its first commercial transportation contract, a $48.7 million mile-long project to shuttle visitors around the Las Vegas Convention Center. The project will provide an important test of whether it can really dig more cheaply than competitors and navigate the government bureaucracy involved in municipal projects," says Bloomberg.

Go deeper

Scoop: USAID chief tests positive for coronavirus

An Air Force cargo jet delivers USAID supplies to Russia earlier this year. Photo: Mikhail Metzel/TASS via Getty Images)

The acting administrator of the United States Agency for International Development informed senior staff Wednesday he has tested positive for coronavirus, two sources familiar with the call tell Axios.

Why it matters: John Barsa, who staffers say rarely wears a mask in their office, is the latest in a series of top administration officials to contract the virus. His positive diagnosis comes amid broader turmoil at the agency following the election.

Bryan Walsh, author of Future
2 hours ago - Health

COVID-19 shows a bright future for vaccines

Illustration: Annelise Capossela/Axios

Promising results from COVID-19 vaccine trials offer hope not just that the pandemic could be ended sooner than expected, but that medicine itself may have a powerful new weapon.

Why it matters: Vaccines are, in the words of one expert, "the single most life-saving innovation ever," but progress had slowed in recent years. New gene-based technology that sped the arrival of the COVID vaccine will boost the overall field, and could even extend to mass killers like cancer.

4 hours ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.