'Even the most powerful humans in the world cannot defeat traffic.” “Defeating traffic is the ultimate boss battle,' Musk said in a statement. The funding will be dedicated to increasing hiring in engineering, operations, and production, as well as accelerating research on Prufrock, the company's proprietary tunnel boring machine designed to 'construct mega-infrastructure projects in a matter of weeks instead of years,' its announcement reads. The company announced Wednesday that it has raised $675 million, bringing its total valuation to $5.7 billion. He envisions thousands of autonomous electric vehicles eventually moving millions of people underground at speeds up to 155 miles per hour (250 kph) - far higher than the moderate 35 mph speeds planned for the short Las Vegas link.Elon Musk's Boring Company just raised a fresh round of funding to build out its Loop project, an ambitious zero-emissions underground public transportation network that Musk has promised will help 'defeat traffic.' The company's first Loop is beneath the Las Vegas Convention Center, where it ferries passengers around in Teslas from one side of the massive complex to another, but will eventually extend to the Las Vegas Strip, the airport, and even Los Angeles, the company has said. He says the idea came to him as he sat in growing frustration in his car, stuck in a traffic jam between his pricey villa in Bel Air, California and the SpaceX offices in Hawthorne, south of Los Angeles. Musk hopes Boring's people-moving technology will help revolutionize urban transit in an ever more crowded world. The cost of the tunnel, originally estimated to be as low as $35 million, has since risen to $52.5 million, according to the Las Vegas Review-Journal.

Musk's company last year showed reporters a new test tunnel in California, but Las Vegas is Boring's first paying customer. He aspires eventually to build such a system linking Washington and New York along the busy US Northeast corridor he has also proposed projects for Chicago and Los Angeles. The South Africa-born Musk, who is known for original and sometimes fanciful thinking, has long advocated a futuristic underground train system, called the Hyperloop, that would allow passenger capsules on Tesla-built chassis to move through low-pressure tubes at high speeds.

Vegas tunnel trading