Boring Company is Elon Musk’s third-highest value company after Tesla ($39 billion valuation as of Aug 28, 2019) and SpaceX ($33 billion). They just raised $120 million with a valuation of $920 million (just short of $1 billion).
There are several big developments over the next 16 months that could propel Boring Company to higher valuation.
The Las Vegas project is expected to be complete in time to be used at the Consumer Electronics Show in January 2021, LVCVA told me in March. Then, Musk got on Twitter and suggested the project could be running by the end of the year. The public contract suggests that tests will start by November 2020.
It is a two-mile-long tunnel with three stations. Elon did tweet he thought it could be completed by the end of 2019. I would expect it will be done and operating by June 2020.
Looking forward to building a Boring Company tunnel in Vegas. Assuming to be operational by end of year! https://t.co/cSSO4SJ140
— Elon Musk (@elonmusk) March 12, 2019
The completion of the Vegas project could set up a follow-up project to connect the convention center with the rest of the Vegas Strip. It would be the first completed and operating commercial Boring Company project.
This could lead to completion of contracts for tunnels in Los Angeles, Chicago, Washington and Austrlia.
A couple of new billion or larger contracts could come from a Vegas Strip tunnel, Washington Tunnel, Chicago, Australia and/or Los Angeles.
One or two billion dollar or larger contracts would send Boring Company to a $16+ billion valuation.
New Technology and China Contracts
Elon Musk and Boring Company had targeted development of new tunneling machines that would be ten to fifteen times faster than existing technology. Boring is still using its first-generation machine which is basically tweaks on current technology. The third generation tunneling machine will be operating by the end of 2020.
Elon Musk and Boring Company are setting up an office in China. China spends tens of billions of dollars on subways and tunnel infrastructure.
China moves very fast on infrastructure and they helped Tesla with billions of dollars in funding for the Tesla Shanghai car factory. This factory building was built in 9 months.
Once Boring Company has third-generation tunneling machines then it is unlikely any competitors will be able to respond on cost and speed for 5 to ten years.
SOURCES- Boring Company, Twitter
Written By Brian Wang, Nextbigfuture.com
nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.