The Boring Company is currently valued at $23 billion, having raised $3 billion in its latest funding round from the UAE and affiliated investment entities. This valuation is more than a third of Tesla's market cap in late 2019, which was around $60 billion.
The Boring Company's valuation has quadrupled since its last fundraising round and it has secured a new anchor investor from the UAE. In Las Vegas, The Boring Company has 10 operational tunnels spanning about 11 miles, with an eventual plan for a 60-mile network, though the original 2027 completion date seems unlikely. They are also boring in Nashville, with a 10-mile Music City Loop originally planned for 2027, which sources indicate is unrealistic. The company has signed memorandums of understanding with the emirate of Dubai and offered free projects in two U.S. cities, one in Louisiana and another in Texas. Elon Musk is said to be less involved in The Boring Company now, deferring to an established team.
Gordon Johnson, in an interview on the Stock Trader Network, made several claims:
* He reiterated his long-standing view that Tesla's "full self-driving" approach "simply does not work."
* He suggested Tesla did not live-stream its Cybercab launch event because there were things they didn't want to show, and attendees signed NDAs.
* He stated that the Cybercab is "just another piece of hardware," and "the problem is the software fsd doesn't work it's not level four technology."
* He claimed that FSD is "not safe."
* Johnson asserted that Tesla's robotaxi service, launched in Austin "mid last year," has unequivocally not expanded or scaled, and that they started with human supervisors.
* Regarding SpaceX, Johnson noted that Starlink is a "good business," but called xAI a "cash hemorrhaging cash incinerating machine" and Grok as "clearly lags on some of its competitors."
* He also stated that Starship "has never gotten to orbit" and mentioned "13 launches" with "half of them failures multiple explosions," questioning the feasibility of "data centers in space" without reaching orbit.