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The work in this paper analyses the applicability of carbon nanotube (CNT) bundles as interconnects for VLSI circuits, while taking into account the practical limitations in this technology. A model is developed to calculate equivalent circuit parameters for a CNT-bundle interconnect based on interconnect geometry. Using this model, the performance of CNT-bundle interconnects (at local, intermediate and global levels) is compared to copper wires of the future. It is shown that CNT bundles can outperform copper for long intermediate and global interconnects, and can be engineered to compete with copper for local level interconnects. The technological requirements necessary to make CNT bundles viable as future interconnects are also laid out.