SpaceX books $561 million gain from stake in Boring Co.

SpaceX reported an unrealized investment gain of $561 million from its stake in The Boring Co. in its third-quarter SEC filing. The gain accounted for more than half of its other income and helped lift net income to just over $4 billion. Boring Co. raised $3 billion at a $23 billion valuation in September.

• Gain from Boring Co. stake reached $561 million in Q3
• SpaceX net income topped $4 billion
• Boring Co. raised $3 billion at a $23 billion valuation
• SpaceX bought $151 million of Tesla Megapacks