Hyperloop

Go deeper: Why Musk's Chicago tunnel could be a pipe dream

Elon Musk discussing his hyperloop project
Elon Musk discussing his hyperloop idea at a competition. Photo: Kate Allen/Toronto Star via Getty Images

Chicago Mayor Rahm Emanuel has selected Elon Musk's The Boring Company to build a high-speed tunnel transit system to link the city's O'Hare International Airport with its downtown Loop, the Chicago Tribune reports.

The big picture: While Musk has dreamed big and delivered before with his SpaceX venture, it's a massively ambitious project for a company that is still in its fledgling stages with plenty of hype and marketing but few proven test cases of its technology.

Elon Musk's Boring Co. raises $113 million

Elon Musk
Elon Musk. Photo by Chris Saucedo/Getty Images for SXSW.

The Boring Co., which plans to dig tunnels for hyperloop mass transit, has raised nearly $113 million in venture capital funding, according to an SEC filing.

Digging in: Elon Musk himself is not listed on the filing, but this is very much his company (and, yes, is the same one that recently sold flamethrowers). The only listed executive is Jared Birchall, who also is involved in Musk's Neuralink project, while SpaceX engineer Steve Davis is a director. None of the 31 participating investors are disclosed.

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