It's called the Music City Loop, and the project marks Musk's latest effort to bolster his budding business empire in Tennessee. His artificial intelligence startup xAI, the parent of social media platform X, is building data centers and a power plant in Memphis, on the western side of the state.

Tennessee Gov. Bill Lee announced plans Wednesday for an underground tunnel that will connect key locations in Nashville. Spearheading the project will be Elon Musk's Boring Company. CBS News correspondent Nicole Valdes has more.

The ‘Tesla in Tunnels’ project will connect the Nashville International Airport to downtown.