The first of the pure HSR segments, the Initial Operating Segment (IOS), is planned to begin operations in the southern-part of the Central Valley in 2029. Maximum train speeds will be about 220 miles per hour (350 km/h) in the dedicated HSR segments and about 110 miles per hour (180 km/h) in the blended segments. Extending the IOS to connect to the north and south metropolitan segments is dependent on future funding, so its timing is uncertain.
Yep, as soon as the Merced to Bakersfield section is completed, the money will start rolling in!