News
Elon Musk’s Boring Company completes Las Vegas tunnel major milestone
The Boring Company’s first Las Vegas tunnel reached a major milestone on Friday after completing excavation on the first of two planned vehicular tunnels beneath the Las Vegas Convention Center campus.
The boring machine broke through its target destination – a concrete wall located on the West Hall convention that’s currently under construction – in record time after tunneling nearly a mile since The Boring Company’s groundbreaking event in Las Vegas on November 15, 2019.
This would mark the first half of its high-speed transport system intended to shuttle convention attendees across the sprawling Las Vegas Convention campus in just over one minute, free of charge, in all-electric Tesla vehicles. Tesla’s goal is to complete the Las Vegas Convention Center’s loop system on time for the next year’s 2021 CES technology show.
Once the first tunnel is completed, the tunneling startup is expected to disassemble its TBM from the west end of the West Hall and moved back to the east end of the East Hall. Doing so completes the second tunnel, and it will mark the completion of the LVCC Loop’s transport line. After this, work will commence on fitting the tunnels to support The Boring Company’s transport pods, which will be ferrying passengers from one end of the LVCC to another.
-
- Conceptual rendering of a Boring Company People Mover station at the Las Vegas Convention Center, released November 2019. (The Boring Company)
-
- Conceptual rendering of a Boring Company People Mover station at the Las Vegas Convention Center, released November 2019. (The Boring Company)
The Las Vegas transport tunnels will be the first mainstream project of The Boring Company. Prior to the LVCC Loop, the tunneling startup has only completed a proof-of-concept tunnel in Hawthorne, CA, which involved Tesla Model X SUVs ferrying passengers from one end of the line to another. The Las Vegas tunnel system is poised to utilize another type of vehicle to transport passengers. The line will reportedly be using autonomous vehicles that have enough room for up to 16 people.
While The Boring Company’s transport tunnel in Las Vegas is progressing well, the project is starting to become quite polarizing. In a statement to Inverse, Richard N. Velotta, a journalist who has been following the project’s progress, noted that public opinion has become very mixed today. “What I find most interesting is that those who are opposed are extremely opposed. Those who support are extremely supportive. No middle-of-the-road here,” he said.
Among the LVCC Loop’s critics is Mayor Carolyn Goodman, who argued that the Boring Company and its technology are largely untested, and therefore risky. Yet, it should be noted that the tunneling startup’s contract for the project includes stipulations ensuring that The Boring Company will be liable if the system does not operate as intended. On the other hand, the project also has a number of ardent supporters.
“There are huge supporters, both of the Boring system and Mr. Musk. They point out that Las Vegas, as a gambling city, has always taken big risks to capitalize on big rewards. This project is just such an instance,” said Velotta.
-
- Workers cut the storage rack from the base of the drill head as the Boring Company prepares to lower the drill head for the People Mover tunnel which will connect convention halls as part of the LVCCD Phase 2 construction in the Red Lot east of the south Hall at the Las Vegas Convention center on Monday, Oct. 28, 2019. (Mark Damon/Las Vegas News Bureau)
-
- Workers from the Boring Company guide the third of three parts of the drill which will make the tunnel for the People Mover which will connect convention halls as part of the LVCCD Phase 2 construction in the Red Lot east of the south Hall at the Las Vegas Convention center Tuesday, October 29, 2019. (Sam Morris/Las Vegas News Bureau)
-
- Ryan Rabbass works on painting the LVCVAís new slogan ì#onlyvegasî on the wall of a pit that The Boring Company drill will emerge from Wednesday, February 12, 2020, at the Las Vegas Convention Centerís new West Hall. (Sam Morris/Las Vegas News Bureau)
(Press release from the Las Vegas Convention and Visitors Authority)
Las Vegas Convention Center Celebrates Major Milestone in Elon Musk’s Innovative Underground Transportation System; Excavation of First Tunnel Complete
LAS VEGAS – The Las Vegas Convention and Visitors Authority (LVCVA) today announced that excavation is complete in the first of two vehicular tunnels that will comprise TBC – The Boring Company d/b/a Vegas Loop underground transportation system located beneath the Las Vegas Convention Center campus. After tunneling forty feet underground for nearly a mile over the past three months, the boring machine hours ago broke through the concrete wall located near the 1.4 million square foot West Hall convention center expansion, currently under construction, signaling the official completion of excavation for the first of two one-way tunnels.
The Convention Center Loop was designed to serve as an innovative, fun and quick transportation solution to move thousands of convention attendees throughout the more than 200-acre campus with the potential for expansion in the near future to ease congestion throughout the Las Vegas resort corridor.
Next, the machine will be disassembled, transported via trucks and lowered back into the launch pit near the Convention Center’s South Hall where it will begin boring a parallel path adjacent to the first tunnel. The first commercial endeavor for the new tunneling company is designed to transport up to 4,400 convention attendees per hour and is scheduled to debut to the public in January 2021.
“This marks an important milestone in the future of transportation,” said Steve Hill, LVCVA CEO and president. “Las Vegas is proud to lead the way as the first and only destination to offer an underground transportation solution for moving visitors throughout our convention center.”
The $52.5 million underground transportation system will include three passenger stations connecting the existing 3.2 million square-foot of convention space with the convention center’s new West Hall, part of a $1.52 billion expansion and renovation. The system will allow convention attendees to be whisked across the sprawling campus in just over one minute, free of charge, in all-electric Tesla vehicles.
Elon Musk
Trump’s invite for Elon just reshuffled Tesla’s big Signature Delivery Event
Tesla rescheduled its final Model S farewell to May 20 after Musk joined Trump in China.
Tesla has rescheduled its Model S and Model X Signature Edition delivery event to Wednesday, May 20, 2026, after abruptly calling off the original May 12 celebration. The event will take place at Tesla’s factory at 45500 Fremont Boulevard in Fremont, California, the same location where the Model S first rolled off the line in 2012. Invitees received a follow-up email asking them to reconfirm attendance and download a new QR code ticket, with Tesla noting that all travel and accommodation expenses remain the buyer’s responsibility.
The reason behind the original cancellation came into focus the same day it was announced. President Trump invited Elon Musk, Apple’s Tim Cook, BlackRock’s Larry Fink, Boeing’s Kelly Ortberg, and executives from Goldman Sachs, Blackstone, Citigroup, and Meta to join his trip to China this week for a summit with President Xi Jinping. The agenda covers trade, artificial intelligence, export controls, Taiwan, and the Iran war, following weeks of escalating friction between Washington and Beijing over AI technology, sanctions, and rare earth exports. Trump wrote on Truth Social, “I am very much looking forward to my trip to China, an amazing Country, with a Leader, President Xi, respected by all.”
Tesla launches 200mph Model S “Gold” Signature in invite-only purchase
The vehicles at the center of all this are the last Model S and Model X units Tesla will ever build. Priced at $159,420 each, the 250 Model S and 100 Model X Signature Edition units come finished in Garnet Red with a one-year no-resale agreement, giving Tesla right of first refusal if the owner decides to sell. As Teslarati reported, the Model S defined Tesla’s early identity as a serious luxury automaker, and the Fremont factory line that built it is now being converted to manufacture Optimus humanoid robots.
Musk’s inclusion in the China delegation drew attention given his very public relationship with Trump, and the invitation signals the two have moved past and past grievances. Trump originally brought Musk on to lead the Department of Government Efficiency following his inauguration, and despite a sharp public dispute in mid-2025, the two have appeared together repeatedly in recent months. A seat on the China trip, the most diplomatically consequential visit of Trump’s current term, puts Musk back at the table on U.S. economic policy at a moment when Tesla’s China revenue remains one of the company’s most important financial pillars.
Tesla has launched a new solution to a rare but relevant Supercharger problem with a new Virtual Waitlist, a remedy that will solve sequencing confusion when there is a line to charge at one of the company’s locations.
Teslarati reported on what we called the Virtual Queue last month. In rare occurrences, there were physical altercations at Superchargers when someone might have cut in line to charge. Tesla started to develop some sort of system that would resolve this issue, and now it is finally rolling it out.
Tesla launches solution to end Supercharger fights once and for all
It will start with a Pilot Program, and Tesla is calling it the ‘Waitlist.’
Announced on May 11 on the official TeslaCharging X account, the pilot program is currently active at sites in Los Gatos, Mountain View, and San Francisco in California, as well as San Jose, CA, and the Bronx, NY (East Gun Hill Road). Drivers are encouraged to share feedback directly through the Tesla app to refine the system before a potential broader rollout.
We’re now testing a new waitlist feature at 5 Supercharger sites. Share feedback through the Tesla app to help us make it better.
– Los Gatos, CA – Los Gatos Boulevard
– Mountain View, CA – El Monte Avenue
– San Francisco, CA – Lombard Street
– San Jose, CA – Saratoga Avenue
-… pic.twitter.com/epTVzpJxgW— Tesla Charging (@TeslaCharging) May 11, 2026
Tesla released the video above to showcase the feature, which automatically joins the waitlist when your vehicle has the Supercharger with the wait as the destination in the navigation. There is also a notification that lets you know your place in line.
In this specific example, the video shows that the wait is less than five minutes, and that there are two cars ahead of the one in the video:
Credit: Tesla
Having a wait at a Supercharger is relatively rare, but it does happen. It is even more frequent now that there are more EVs allowed to use the Supercharger Network. Those non-Tesla EVs can also join the queue, as Tesla added in its social media release of the pilot program that they can join the waitlist using the Tesla app.
The release of this program should help alleviate the rare risk of incidents at Superchargers. Tesla will expand this program as it sees fit, and it gathers valuable data and reviews from users.
Investor's Corner
Tesla Optimus is already benefiting investors, top Wall Street firm says
Piper Sandler has updated its detailed valuation model for Tesla (NASDAQ: TSLA), concluding that at recent share prices around $400–$420, investors are essentially acquiring the company’s ambitious Optimus humanoid robot project at no extra cost.
Tesla Optimus is already benefiting investors from a fiscal standpoint, at least that is what Alexander Potter at Piper Sandler, a top Wall Street firm covering the company, says.
Piper Sandler has updated its detailed valuation model for Tesla (NASDAQ: TSLA), concluding that at recent share prices around $400–$420, investors are essentially acquiring the company’s ambitious Optimus humanoid robot project at no extra cost.
Analyst Alexander Potter, in the firm’s latest “Definitive Guide to Investing in Tesla,” built a comprehensive framework covering 17 separate product lines.
This granular approach values Tesla’s core businesses—including electric vehicles, energy storage, Full Self-Driving (FSD) software, in-house insurance, Supercharging network, and a standalone robotaxi operation—at approximately $400 per share, without assigning any value to Optimus or related inference-as-a-service opportunities.
“At $400/share, we think investors can buy Optimus for ‘free,’” Potter stated in the note. Piper Sandler maintained its Overweight rating on Tesla shares and a $500 price target, which implicitly attributes roughly $100 per share to the robot-related businesses— a figure the analyst views as potentially conservative.
The updated model incorporates elements often overlooked by other sell-side analysts, such as detailed forecasts for Tesla’s insurance operations, Supercharger revenue, and a distinct valuation for the robotaxi business separate from FSD software licensing. It also accounts for Tesla’s 2025 CEO compensation plan for the first time.
Potter acknowledged that his estimates for 2026 and 2027 fall below Wall Street consensus, citing factors like declining deliveries from certain discontinued models and reduced regulatory credit income.
However, he expressed limited concern, noting that traditional vehicle delivery metrics are expected to matter less over time as FSD subscriber growth and robotaxi deployment metrics gain prominence. On Optimus specifically, Potter suggested the humanoid robot program, combined with inference services, “arguably will be worth more than Tesla’s other businesses combined,” though the firm has not yet produced formal long-term forecasts for these segments.
Tesla shares have traded near the $400 range in recent sessions, reflecting ongoing investor focus on the company’s autonomous driving progress and expansion into robotics and AI. The Optimus project remains in early development stages, with Tesla aiming to deploy the robots initially for internal factory tasks before broader commercial applications.
This Piper Sandler analysis highlights the growing emphasis among some investors and analysts on Tesla’s long-term technology platform potential beyond its current automotive and energy businesses.
As with any forward-looking valuation, outcomes will depend on execution timelines, technological breakthroughs, regulatory approvals for autonomous systems, and market adoption of humanoid robotics—areas that carry significant uncertainty and execution risk.
The note underscores a common theme in Tesla coverage: differing views on how to quantify emerging high-growth opportunities like robotics within the company’s overall enterprise value. Investors are advised to consider their own risk tolerance and conduct thorough due diligence regarding these speculative elements.
Trump’s invite for Elon just reshuffled Tesla’s big Signature Delivery Event
Tesla launches its solution to rare but relevant Supercharger problem
