Hyperloop

Boring breaks ground in Las Vegas with its first paying customer

In this image, Elon Musk stands and holds a microphone in front of a tunnel opening.
Elon Musk speaks at an unveiling event for the Boring Company test tunnel on Dec. 18, 2018 in Hawthorne, Calif. Photo: Robyn Beck-Pool/Getty Images

Las Vegas has awarded a $48.7 million contract to Elon Musk's Boring Company to build a high-speed autonomous shuttle underneath the city's remodeled convention center, per multiple reports.

Why it matters: Sin City is the first paying customer for Musk's hyperloop idea, which was "joke-tweeted" into existence two and a half years ago, Wired magazine writes. The transit system would shorten what would be a 15-minute walk to a one-minute ride.

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.