Elon Musk says the Boring Company is working on a 200-mph “Hyperloop” tunnel between Austin and San Antonio that would cut the drive to under 30 minutes. He posted the claim on X this weekend with no route, no timeline, and no cost.

It’s a version of a promise Musk has been making for more than a decade. So far, he hasn’t built any of them.

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The company said it plans to dig more than 150 kilometers of tunnels in the Middle Eastern country.

The Boring Company has closed a $3 billion Series D funding round led by the United Arab Emirates, valuing Elon Musk’s tunneling venture at $23 billion.

That’s roughly four times its 2022 valuation of about $5.7 billion. And most of the case for it sits in tunnels the company hasn’t dug yet.

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