Single-walled carbon nanotube (SWCNT) bundles have the potential to provide an attractive solution for the resistivity and electromigration problems faced by traditional copper interconnect. In this paper, we evaluate the performance and reliability of nanotube bundles for future VLSI applications. We develop a scalable equivalent circuit model that captures the statistical distribution of metallic nanotubes while accurately incorporating recent experimental and theoretical results on inductance, contact resistance, and ohmic resistance. Leveraging the circuit model, we examine the performance and reliability of nanotube bundles including inductive effects. The results indicate that SWCNT interconnect bundles can provide significant improvement in delay over copper interconnect depending on the bundle geometry and process technology.