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U.S., European and Ukrainian Officials to Meet in Geneva; 300 Plus Students Kidnapped from Catholic School in Nigeria; Court: Bolsonaro Detained to Stop Possible "Attempted Escape"; Trump Open to Reconciling With Marjorie Taylor Greene Amid Feud, Resignation; Leaders at G20 Say U.S. Proposal Needs "Additional Work"; Nvidia Reports Strong Earnings Amid Fears of A.I. Bubble. Aired 5-6a ET

Aired November 23, 2025 - 05:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[05:00:34]

KIM BRUNHUBER, CNN ANCHOR: Welcome to all you watching us here in the United States, Canada, and around the world. I'm Kim Brunhuber. This is "CNN Newsroom."

U.S. and European leaders gather to find common ground on Washington's Ukraine peace plan. We'll have details, plus we'll take you live to Kyiv to get a sense of the mood there.

A group challenging Texas's redistricting efforts of just days to respond to an appeal, how this could impact the midterm elections.

And whispers of an A.I. bubble have some investors concerned. We'll break down the data and what it all means to your portfolio.

ANNOUNCER: Live from Atlanta, this is "CNN Newsroom" with Kim Brunhuber.

BRUNHUBER: U.S., European, and Ukrainian officials are preparing to meet in the coming hours to discuss a new U.S. proposal to end the war in Ukraine. Secretary of State Marco Rubio and Ambassador Steve Witkoff are expected to join the talks in Geneva, Switzerland. One U.S. official says they plan to iron out language before Ukrainian President Vladimir Zelenskyy meets with President Donald Trump.

The 28-point plan calls for Ukraine to cede territory to Russia, abandon its long-held pursuit of NATO membership, and cut the size of its army. But President Trump appears open to negotiate, saying that this proposal isn't the final offer. Here he is.

(BEGIN VIDEO CLIP)

DONALD TRUMP (R), U.S. PRESIDENT: I would like to get the peace. It should have been -- it should have happened a long time ago.

(OFF MIC) TRUMP: The Ukraine war with Russia should have never happened. If I were president, it never would have happened. We're trying to get it ended. One way or the other, we have to get it ended. So --

UNIDENTIFIED MALE: So, President Zelenskyy doesn't agree to this deal by Thursday. Will you cut off military aid? Will you cut off the intelligence?

TRUMP: Then he can continue to fight his little heart out.

(END VIDEO CLIP)

BRUNHUBER: Ukraine's allies are raising concerns over the draft U.S. peace plan. G7 and European leaders met on the sidelines of the G20, the same summit the U.S. boycotted. They say the plan needs additional work, suggesting that it appears to favor Russia.

CNN's Barbie Latza Nadeau joins us live from Rome with more. So, Barbie, take us through what the response has been so far from European leaders as we head into those crucial talks today.

BARBIE LATZA NADEAU, CNN REPORTER: Yeah, you know, it's been very cautious. European leaders very, very concerned about many points of this 28-point plan, one of them being, of course, the need for Ukraine to diminish the size of its military. A lot of concern as well that European Union members cannot fill in the gap if the United States takes away weapons or if it discontinues its sharing of intelligence. All those sorts of things are of great concern. And you know, we've seen a lot of these side meetings at the G20 in South Africa, the meeting in Geneva today. People are really watching to see what comes out of that. The European leaders are planning to meet throughout the week ahead of this crucial Thursday deadline.

Let's listen to what the British Prime Minister had to say.

(BEGIN VIDEO CLIP)

KEIR STARMER, BRITISH PRIME MINISTER: It is important to keep firmly in mind what we're all trying to achieve, which is a just and lasting peace, but also underpinning that is the principle that I've always adhered to, that all matters about Ukraine must be determined in the end by Ukraine. And that's why we're talking very regularly with the Ukrainians.

(END VIDEO CLIP)

NADEAU: And you know, Kim, when you listen to that, it really does underscore the importance of keeping Ukraine front and center in the room when these negotiations take place. And before President Trump and President Zelenskyy talked, there's a lot of, you know, you're talking about the language changing and things like that. But at the end of the day, Ukraine has to agree to any kind of ceasefire. And that's going to have repercussions all through Europe, Kim.

BRUNHUBER: Yeah, absolutely. Barbie Latza Nadeau, thank you so much. Appreciate it. So, with pressure mounting on Kyiv to accept that U.S. proposal, some

Ukrainians are sharing their concerns with CNN, and they're worried about their future if this plan goes through. Listen to this.

(BEGIN VIDEO CLIP)

VIRA SEMENOVA, KYIV RESIDENT (through translator): I'm very scared. Right now, I'm probably just as scared as I was in early February 2022, because it is unclear where everything is heading, and it is definitely not heading in the right direction. If this plan is adopted, I'm afraid that I will need to flee Ukraine with my children, because the Russians will not stop at what they have. That is obvious. We have known the Russians for so long that we have no illusions about this.

[05:05:03]

VALERII MOROZ, BUILDER (through translator): If we agree to the U.S. plan, we will lose Ukraine, our identity, our independence. We will be like Belarus, and Ukraine will simply cease to exist.

(END VIDEO CLIP)

BRUNHUBER: For more on this, I want to bring in Andriy Zagorodnyuk, who's a former Ukrainian Defense Minister. He's also an adviser to the Ukrainian government and a distinguished fellow with the Atlantic Council and joins us now live from Kyiv. Thank you so much for joining us here again.

Good to see you. So, listen, we heard there Ukrainians saying they feel scared, betrayed. I mean, is that right? What is the mood there in Kyiv?

ANDRIY ZAGORODNYUK, FORMER UKRAINIAN DEFENSE MINISTER: There are a lot of emotions, and of course, but I cannot describe enough how skeptical generally Ukrainian people are about the plan. Nobody is taking it as something which can help. Some people are talking emotional, of course, because there are such things as removal of the crimes, prosecutions, war crimes, prosecutions for Russians and so on.

Some people are looking at the fact that it's been pushed with an enormous degree of coercion from the -- so immediately, as soon as the plan was passed, there were like statements, unless you accept it, we are not, you know, you will lose U.S. support, you will lose U.S. intelligence, et cetera. So, I mean, you wouldn't do that with a good plan, right? You wouldn't do this with a plan which actually stops the war, because Ukraine, I have to remind, I mean, mostly interested in stopping the war. There is absolutely no desire to continue the war more than absolutely necessary.

So, if somebody offers a peace plan which immediately supports with coercion, you know, verbiage, it's very concerning. Also, lots of people looking at the legal side, you know, how it's going to -- some say that it's a little worked out, you know, some phrases are written very strangely. But the key thing is that nobody believes that it will stop the war, because the key -- the key -- you know, value -- supposed to be value of this document is that it must stop the war, but we don't see that stopping the war, because the plan is not limiting Russia, it limits Ukraine, it limits Ukraine international cooperation, military cooperation, it limits its size of the armed forces.

And generally, it sets out the stage for the renewal of the aggression and possibly was much bigger success than it was. And that is the most concerning part.

BRUNHUBER: One of the most concerning parts as well, speaking to other Ukrainians, I mean, this deal would -- would require giving up parts of Donbas that Ukraine had fought hard to defend. I mean, as a former defense minister, what do you think is going on in the minds of the fighting men and women of Ukraine when they -- when they see this being put on the table?

ZAGORODNYUK: I'm working with lots of military these days on various things. And I have to say that there is no -- there is no spirit in the military that this plan is going to change anything. So, there is no like serious -- seriously, it's not taken as a document, which actually will stop the war.

We know that there are discussions, we know that there will be negotiations and so on. But we also work a lot with Western military, European partners and so on. And there is no such -- there is no such spirit there as well.

So, Europe is extremely skeptical and our whoever will work here on international military cooperation, nobody is looking at that as something which will actually seriously stop. So, the biggest fear is that it will be pushed on Ukraine. The biggest fear it will be, you know, imposed on Ukraine with some sort of enormous diplomatic, perhaps economic pressure and so on. So, that's the biggest question.

BRUNHUBER: On that pressure, I mean, President Trump's latest comments about President Zelenskyy in his words, fighting his little heart out alone, you know, certainly heaps more pressure on him. The message from President Trump has been, you know, accept the deal or you're on your own. What would that mean? The loss of U.S. support, especially for defending Ukrainian airspace.

ZAGORODNYUK: I have to say that we've seen this rhetoric before. It's very disheartening, of course, because this diminishes the, you know, what we're dealing here with. We're dealing here with the enormous unprovoked aggression, which costs enormous price, you know.

And so, I see that it's very tough. But also importantly is that it creates a dilemma which actually doesn't exist. The dilemma very often is put is that Ukraine cannot win. So, it has, like, no cards, sometimes said. And that means that it has to accept any peace deal on the table.

Well, if Ukraine has no cards, let's just say for a moment, the peace deal is not on the table, because Russia is not going to suddenly, you know, become, accept certain points and then seeing that Ukraine is helpless. It's just stop the war. It will continue. And that is like almost probably 100 percent of Ukrainians is absolutely sure about.

[05:10:05]

And also probably majority of political in Europe as well, because they see that Russia has a very far-reaching goals. They are not stopping the, you know, aggressive rhetoric and so on.

So, if Ukraine is deprived from support, peace is not going to be on the table. And if Ukraine has to lose the partner -- support, lose the American support, it still has at least some chance. But if it accepts something under -- under pressure, something which will completely deprive it from the -- what they call strategic autonomy, you know, then that's it. You know, Ukraine will no longer exist. And for us, that is a dilemma. Dilemma is between like choosing a very difficult future, but at least some future or accepting the outright defeat, which Ukraine is not going to accept. Ukrainian people are not accepting.

BRUNHUBER: Now, President Trump has said that, you know, this isn't a final plan. So, presumably there's room for negotiation. U.S., Ukrainian and European officials are supposed to meet today in Geneva. Are you optimistic that the outcome will be more favorable to Ukraine than what we've seen so far, despite those signals from the president himself?

ZAGORODNYUK: Well, this year and all these tribulations with the, you know, with U.S., Ukraine and U.S.-European relationship is tough to be optimistic. But I have to say that what I'm absolutely certain about is that Europe, while sending a very reserved and very like diplomatic statements in the press right now, they're talking about high-level things like fairness and legality and assurance of the peace.

But I know for a fact, because we speak to a lot of them, behind the scenes, European cabinets and European governments are extremely concerned with the plan, very skeptical about its value.

And so, they will be very properly trying to push into the right direction. And that's what we know for a fact. So, we will see a lot of -- I'm not saying resistance to the plan, but the attempt to replace these points with the more -- with a proper -- proper, you know, verbiage and generally a proper plan, because that plan is not leading us to the peace.

The question is whether Russia will accept the proper plan. There is enormous skepticism about that as well, because Russia is pushing this because it's essentially a pro-Russian plan. So, you know how it will end. But we know that Europe will be -- will be standing and trying to push actually like something which can bring peace.

BRUNHUBER: Yeah. We shall see so much riding on this today. Andriy Zagorodnyuk, live in Kyiv. Thank you so much. Appreciate it.

ZAGORODNYUK: Thank you.

BRUNHUBER: Well, here in the U.S., the groups that challenged Texas' new congressional maps have until Monday night to respond to an appeal that temporarily restored them. That comes after a Supreme Court justice paused a previous ruling that found the maps were likely racially based. The full court is soon expected to review the case, which would have huge consequences for next year's elections. CNN's Julia Benbrook reports.

(BEGIN VIDEOTAPE)

JULIA BENBROOK, CNN CORRESPONDENT: Late Friday night, Supreme Court Justice Samuel Alito paused a lower court's order that blocked the new congressional maps in Texas. His pause came just a few days after a federal court ruled that the new map is likely an unconstitutional racial gerrymander. The eventual outcome of all of this could have a big impact on upcoming elections, as well as here in Washington.

The aim of that new map was to help Republicans potentially flip five Democratic-held seats. The GOP holds a razor-thin majority in the House right now, so those five seats at play could make the difference in who holds the majority next term. And, of course, that will impact how President Donald Trump's final two years in office play out.

In the filing, Texas called on the Supreme Court to block the lower court's ruling by December 1. They're hoping to see an expedited process, and highlighted some concerns with timeline, writing, quote, "The chaos caused by such an injunction is obvious. Campaigning had already begun. Candidates had already gathered signatures and filed applications to appear on the ballot under the 2025 map. And early voting for the March 3, 2026 primary was only 91 days away."

Alito asked the groups that challenged the Texas maps to respond to the emergency appeal by Monday evening, suggesting he is eager to move forward on this quickly.

Julia Benbrook, CNN, Washington.

(END VIDEOTAPE)

BRUNHUBER: All right, still come here on CNN NEWSROOM, more than 300 students were abducted from their Catholic school in Nigeria. We'll look at how the U.S. may get involved. That's coming up.

[05:15:02]

Plus, Brazil's Supreme Court and federal police force believe ex- President Jair Bolsonaro may have been planning to flee the country to avoid a lengthy prison sentence. Those stories and more coming up. Please stay with us.

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BRUNHUBER: Outrage is growing in Nigeria after more than 300 students and a dozen teachers were kidnapped at a private Catholic school. Earlier estimates were that 200 were abducted, but the Christian Association of Nigeria updated the number. Some of the students are as young as 10 years old.

Meanwhile, schools across Nigeria have been closing their doors as worried parents pull their children from classes. Nigeria has experienced a growing wave of attacks by armed groups as well as religiously motivated crimes. Crimes targeting religious minorities have drawn the attention of U.S. President Donald Trump, who criticized Nigeria recently for failing to protect Christians and threatened unspecified military action if that doesn't change.

Now, earlier I spoke to national security expert Umar Yakubu. He's the Executive Director of the Center for Fiscal Transparency and Public Integrity. And I asked him how this happens and how it can be prevented. Here it is.

[05:20:01]

(BEGIN VIDEO CLIP)

UMAR YAKUBU, EXECUTIVE DIRECTOR, CENTER FOR FISCAL TRANSPARENCY & PUBLIC INTEGRITY: There's a lot of money going into the security sector in Nigeria, but there's low level of accountability. Our spending, security spending increases, have an inverse relationship with the security outcomes. You can see billions of dollars are spent in that sector, but we don't see the results to protect schools, to protect buildings, public spaces from all these incidents of terrorism.

So, a lot more needs to be done in terms of governance. You know, people need to be held accountable, both at the federal level, at the state level and within the security sector to ensure that these things do not happen. You can't run a country where we're having incidences in the last two weeks. This is like the third one that's been reported. A mass number, about 300 students, human beings, moving around in an open area, which is more of Sahara or Sahel area, you know, where it's open space.

You can have eyes in the sky to see movements of people, but all these things are just happening. So, it's more of an issue of low accountability by the government itself and its ability to secure citizens of the state.

BRUNHUBER: Yeah, I mean, you spoke there of terrorism. I mean, this could look from the outside like a -- like a very dramatic and stark example of the persecution of Christians. I mean, that's what the Trump administration has been saying is happening in Nigeria. He's calling this a genocide. Is that what this is? Do you think that's going on there?

YAKUBU: No, I don't think so. I'd rather rely on the armed conflict location and event data. It's an independent organization based in Wisconsin in the United States. All their research and they report conflicts all over the world and their data doesn't show evidence of genocide.

I could also refer to the local agency called the Beacon Security Intelligence Company, who also released data and does not indicate genocide. What all this data, international data, reflects and the local data as well, I could also take the National Bureau of Statistics data. Just last year, almost $2 billion was made a ransom from kidnapping by these terrorists.

So, what it clearly shows is governance failure, lack of accountability and a black hole in security spending. Because there has been money, a lot of money released for all this to be secured, the schools, the public places. But nobody knows, the level of accountability is very low. Nobody knows how these resources have been utilized to ensure that this did not happen.

BRUNHUBER: Yeah, and it should be pointed out. I mean, you talk about, quite rightly, that a lot of this is financially motivated, but there is religiously motivated violence as well. But Muslims are as well targeted as not just Christians. And despite this, the Trump administration is promising action about this. The U.S. Secretary of War tweeted this in his meeting in D.C. with Nigerian officials. Now, this was a day before the school abductions.

I want to read this. "Yesterday, I met with Nigeria's national security advisor and his team to discuss the horrific violence against Christians in their country.

'Under POTUS leadership, Department of War is working aggressively with Nigeria to end the persecution of Christians by jihadist terrorists."

So, President Trump has ordered the Pentagon to prepare to intervene militarily in Nigeria, if necessary. I mean, do Nigerians think of this as a real threat? How is the country responding?

YAKUBU: Yeah, it's better, it's good to frame it properly, because this term of Christian genocide, I told you the data does not support it. If you look at the data, there's a lot of data right from 2012, 2000, 2001, a lot of data where other Muslims have been killed across all states. But if you map the data, you see there's a linear -- it's a linear graph where you see it's just violence across all states of the country. In some states, more Muslims are killed, and in some states, more Christians are killed. And this should not be happening.

(END VIDEO CLIP)

BRUNHUBER: Israeli strikes in Gaza killed at least 20 people and injured dozens more, according to the Palestinian Health Ministry. And we just want to warn you, some of the footage you're about to see is disturbing.

The Israel Defense Forces says it launched retaliatory strikes in the enclave on Saturday after soldiers came under fire. According to the IDF, an armed terrorist crossed into Israeli occupied territory in Gaza and opened fire. The Israeli prime minister said the strikes killed five senior members of Hamas, but didn't identify them. A Hamas official in Gaza rejected Israel's allegations as, quote, "an excuse to kill." The militant group also blamed Israel for escalating ceasefire violations.

Supporters of former Brazilian President Jair Bolsonaro clashed with his opponents outside a federal police station on Saturday. Bolsonaro was taken into custody and is being held at this police station over fears that he would try to escape house arrest and flee the country.

[05:25:06]

The right-wing former leader was convicted of plotting a coup after he lost the 2022 election. Bolsonaro was detained just days before starting his 27-year prison sentence. Julia Vargas Jones has more.

(BEGIN VIDEOTAPE)

JULIA VARGAS JONES, CNN CORRESPONDENT: In one of the most dramatic turns in Brazilian politics since the January 8th attacks, Brazilian authorities arrested former President Jair Bolsonaro early Saturday morning, not because of his 27-year prison sentence was beginning, but because he was preparing to flee, authorities say.

Since being convicted of attempted coup back in September, Bolsonaro has been under house arrest. But a midnight alert from his electronic ankle monitor triggered security teams to come inspect the device. And then Bolsonaro admitted on video that he had used a soldering iron to try to open it. That same night, his son, Senator Flavio Bolsonaro, called supporters to gather outside his father's home.

The Supreme Court says that that combination of the damaged ankle monitor and a politically motivated crowd suggested Bolsonaro may try to escape. In his ruling overnight, Justice Alexandre de Moraes even raised the possibility that Bolsonaro could attempt to reach the U.S. embassy in Brasilia, noting its proximity and pointing out that some of Bolsonaro's allies in the same coup case had already left the country to avoid prison. Bolsonaro's lawyers insist that none of this adds up. They say the device was functioning normally, that the gathering was a prayer vigil, and that the arrest amounts to nothing more than political persecution.

But Brazil's attorney general agreed with police that the risk of escape was real, and around 6 a.m., police entered Bolsonaro's home and took him into custody. He's now being held in a special cell at the federal police headquarters.

Across Brazil, this news of his arrest has highlighted just how deeply politically divided the country continues to be, with some celebrating openly in the streets and some calling it an abuse of power.

And then in Washington, President Trump, who was once one of Bolsonaro's closest international allies, said on Saturday he hadn't heard of the news of his arrest. And once he learned, he said that was too bad. It's a markedly different tone from just a few months ago, when the same president, Trump, imposed a 50 percent tariff on a slew of Brazilian goods over what he called a witch hunt of a trial against Bolsonaro.

Now, with or without support from the White House, Bolsonaro still has one appeal left before his 27-year sentence becomes final. What this preventative arrest does is it sends a clear message that Brazilian authorities are willing to act quickly and publicly when they believe democratic order is at risk. And it also highlights just how volatile the political landscape is in Brazil as the country moves towards the 2026 presidential elections.

Julia Vargas Jones, CNN.

(END VIDEOTAPE)

BRUNHUBER: And we just want to note that while Bolsonaro admitted he used a soldering iron on his ankle bracelet, he said he didn't try to remove it.

All right, still ahead, President Trump says he would consider extending an olive branch to his former ally-turned-foe, outgoing lawmaker Marjorie Taylor Greene. We have the details when we come back.

Plus, world leaders converge in South Africa for this year's G20. Why the U.S. isn't in the picture, we'll explain next. Stay with us.

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[05:31:41]

BRUNHUBER: Welcome back. I'm Kim Brunhuber.

Let's check some of today's top stories. A high-stakes meeting between U.S., European, and Ukrainian officials is set to begin in the hours ahead. They'll discuss the U.S. proposal to end Russia's war on Ukraine. President Donald Trump has given Kyiv until Thursday to accept the plan, which is facing major backlash from critics who say it looks like a Russian wish list.

There's growing outrage after armed bandits kidnapped more than 300 students from a Catholic school in Nigeria. Some of the students are as young as 10. Earlier this month, President Trump threatened Nigeria with sanctions and military action for failing to protect Christians. Nigeria's government has rejected claims it isn't doing enough to protect Christians.

The U.S. Supreme Court has temporarily restored new congressional maps in Texas that favor Republicans. It comes after the state asked the court to pause a ruling that found the maps were likely racially biased. The groups that challenged them have until Monday night to respond.

President Trump says he could be open to reconciling with Republican lawmaker Marjorie Taylor Greene. President Trump's comments come just hours after he bashed the ongoing congresswoman on social media.

CNN's Camila DeChalus is in Washington with the latest on Greene's surprise resignation.

(BEGIN VIDEOTAPE)

CAMILA DECHALUS, CNN REPORTER: Well, Marjorie Taylor Greene's resignation announcement definitely came as a shock to everyone, not just members of Congress, but also to the entire Republican landscape. Now, early on in her tenure, she made clear that she was a strong supporter of President Trump and said she would do whatever it takes to really push his legislative agenda forward. But in the recent months, she's become increasingly critical of the president, often accusing him of focusing too heavily on foreign policy issues and not enough on the issues that are impacting Americans here in this country.

And she also did not shy away from criticizing members of her own party, especially during the government shutdown. She openly criticized the House Speaker, Mike Johnson, saying that he needed to do more to address the growing health care crisis.

Now, even though Marjorie Taylor Greene is considered to be a polarizing figure on Capitol Hill, during these last few weeks, she also took part in a big bipartisan push to release all the Jeffrey Epstein files. And that did not go well with President Trump. On his end, he did not hold back his criticism of her, and he even went as far as calling her a traitor.

Now, earlier today, when reporters asked him about her, he called her a nice person, but ultimately said that he would openly support another person if they try to challenge her in the primaries.

Now, Marjorie Taylor Greene did not announce what she plans to do after leaving office, but her departure does beg an even bigger question, and that is, will we see more Republican lawmakers leave office if they begin to openly criticize the Republican Party or even President Trump during his time in the Oval Office?

Camila DeChalus, Washington, CNN.

(END VIDEOTAPE)

BRUNHUBER: President Trump is now saying he only plans to send the National Guard to New York City if they need it. It's a rapid reversal of his previous threats to send troops to his home city, and it comes after Trump's meeting with New York Mayor-elect Zohran Mamdani at the White House Friday, after months of the president calling Mamdani a communist and threatening to arrest him, the two New Yorkers appeared to hit it off in their first face-to-face meeting, and locals are reacting to their surprisingly friendly summit.

[05:35:00]

(BEGIN VIDEO CLIP)

GLORIA PAZMINO, CNN CORRESPONDENT: So, you saw the clip. What was your reaction?

UNIDENTIFIED MALE: I really don't like the guy, but I'm glad that he was able to go in there and do a good job with the president.

UNIDENTIFIED MALE: I'm hoping that Mamdani does what he has to do to do what's right for the city. I think it's a lot of theater.

UNIDENTIFIED FEMALE: I think that Trump continues to be the most transactional president we've ever had. And if people are smart, then they find a way to give him something, which may be meaningless, but it's important to him. And then he loves you and rolls out the red carpet.

PAZMINO: Are you guys supportive of Mamdani at this stage, or do you want to wait and see?

UNIDENTIFIED MALE: I'll wait and see. I'd like to give him a chance.

(END VIDEO CLIP)

BRUNHUBER: Well, lots of flight cancellations this weekend after the U.S. warned international airlines about flying over Venezuela. Brazil's Gol, Colombia's Avianca, and TAP Air Portugal canceled flights departing from Caracas on Saturday, and Spain's Iberia plans to cancel flights to Caracas starting Monday until further notice.

Now, the cancellations come a day after the Federal Aviation Administration issued a warning about the worsening security situation and heightened military activity in or around Venezuela. The FAA said aircraft at all altitudes could be at risk.

World leaders met on the sidelines of the G20 in Johannesburg to discuss the U.S. proposal to end Russia's war on Ukraine. European leaders have viewed the plan with skepticism, saying Ukraine's sovereignty and the security of the entire continent are at stake. The G20 also passed a joint declaration covering topics including climate change and Gaza.

CNN's Larry Madowo joins us live from Johannesburg, where the G20 is underway. Larry, plenty of discussion there about that Ukraine peace deal. What are you hearing?

LARRY MADOWO, CNN CORRESPONDENT: Kim, European leaders hate this plan, but they can't say that expressly because that risks alienating President Trump. So, they have used this very clear language to say they welcome the proposal by President Trump, but they feel that it is only the first stage. This 28-point plan is, according to them, it needs additional work.

So, for instance, these European leaders, 12 of them, including the Canadian prime minister and the Japanese leader, said that they were concerned about the proposed limitations to Ukraine's military because that would leave the country vulnerable to further attacks. And they said that Ukraine's borders would not be changed by force. So, those are two ways that they differ from this plan presented by President Trump, which has a Thursday deadline.

And I wanted you to listen to what President Emmanuel Macron said. They had had a separate call, the E3, they're called. The French, British and German leaders, with President Zelenskyy, shortly after this plan came out. After this meeting, this is what President Macron said.

(BEGIN VIDEO CLIP)

EMMANUEL MACRON, FRENCH PRESIDENT: Our unique problem, all of us, is Russia, which started this war. We refused to take the ceasefire's proposals in February, March, July, August, et cetera, and didn't provide any guidance if they are OK just to have a ceasefire now.

(END VIDEO CLIP)

MADOWO: European leaders don't like this plan because they feel that it gives Russia everything it's been asking for. And second, they were alarmed by the proposals which involved the European Union and NATO, and they were not consulted in that. So, they are now working, essentially, even today, to try and figure out a way to give this counterplan that balances what the U.S. has offered, that safeguards Ukrainian and European interests again.

BRUNHUBER: And, Larry, Ukraine was the big issue, but not the only one. So, take us through what else was agreed to there.

MADOWO: This is the final day of the G20 leaders' summit, the first on African soil, and President Ramaphosa, who opened the session, said they wanted to center African demands. And so they pushed together and passed, with overwhelming majority, according to President Ramaphosa, a leaders' declaration. So, that is essentially a joint statement that all the G20 members sign on to. It's language that the U.S. does not like. It stresses the importance of the climate crisis and finding funding for that. The debt burden many poor countries around the world face.

They even agreed to set up an international panel on inequality. And these are language that's -- this is language the U.S. expressly called shameful, that South Africa went ahead to do this. And the White House saying that South Africa has weaponized its G20 presidency, and they say that when the U.S. takes over, President Trump will bring back legitimacy to the G20.

The next drama should happen in the next few hours, because ideally President Ramaphosa should hand over the gavel to the next G20 presidency, and that's the U.S., but the U.S. has boycotted this. The U.S. sends Marc Dillard. He's the Chief d'Affaires, so essentially the acting ambassador here. And the South African presidency said President Ramaphosa will only hand over to somebody of equal stature, so they will do this handover at a foreign office here in South Africa.

BRUNHUBER: Well, we'll be watching to see how that plays out.

[05:40:01]

Larry Madowo, live in Johannesburg, thanks so much.

Still to come, fear on the street, investors worry about the A.I. boom, and it could be a bubble about to burst. Well, look at why one major company is telling them to chill out. Stay with us.

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BRUNHUBER: The world's most valuable company is telling investors to chill out about a possible A.I. bubble. This week, Nvidia announced blockbuster earnings. Its sales grew to $57 billion in the third quarter. That's up more than 60 percent from the same time last year.

Here's how the chip giant fared on Wall Street at the end of the trading week. After a brief tick up following Nvidia's earnings report, the chip maker's shares dipped back into the red and closed down nearly one percent on Friday.

Overall, the stock is up 29 percent from the start of the year. Much of the world's A.I. technology runs on Nvidia chips. The company says it doesn't see the A.I. spending spree slowing anytime soon, even amid recent worries over an A.I. bubble.

Now, some analysts insist the amount of money tech giants are pouring into A.I. infrastructure, a whopping $400 billion by the end of the year, is on pace with the demand for A.I. products.

All right, I'm going to bring in Chaim Siegel, founder of Elazar Investors, and he joins us live from Jerusalem.

Thank you so much for being here with us. Really appreciate it. So, you've seen bubbles come and go when you look at what's happening with A.I. right now. Does this feel like the dot.com era all over again?

CHAIM SIEGEL, FOUNDER, ELAZAR ADVISORS: Well, I wasn't around for the tulip mania, but I was around for the dot.com bubble. And there are similarities. But, you know, they -- they can go on for a while. You just need something to prick the bubble. But the pieces are in place because there's a lot of spending on A.I., but there's no profits so far. So, that's the big problem.

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BRUNHUBER: Yeah. And -- so, we've seen, I mean, Nvidia just posted those incredible numbers that I read out there, but the stock still dropped afterward.

SIEGEL: Yeah.

BRUNHUBER: And big investors have, you know, dumped all of their stock.

SIEGEL: Yeah.

BRUNHUBER: I mean, what does that tell you about where investor confidence really is right now?

SIEGEL: Well, I don't know if investors dumped all their stock. I mean, I think everybody's in on the A.I. theme. Everybody's in on Nvidia. I mean, it's the biggest company in the world on, you know, the major exchanges. So, everybody's very bullish on it.

But I will say something interesting that there's a hedge fund survey that's pretty popular from Bank of America, and it gets out there pretty publicly, and everybody's in, everybody's bullish and, you know, fully invested, but everybody thinks it's an A.I. bubble.

So, it basically turns into a little bit of musical chairs that everybody has their finger on the trigger to sell, but nobody wants to sell because you don't want to miss that final run-up, that, you know, that euphoric run-up that sometimes happens in these things.

BRUNHUBER: Yeah, well, Peter Thiel was --

SIEGEL: So, timing, it is a little --

BRUNHUBER: Yeah, Peter Thiel was -- was one of those people who did dump his stock there. You know, we keep hearing about these circular funding deals where Nvidia is investing in companies like OpenAI that then turn around and buy Nvidia chips. So, it seems, you know, pretty cozy. All these companies' fates are kind of tied together. I mean, does that worry you?

SIEGEL: Yeah, that's a good point. And I would say after last quarter's earnings, specifically Microsoft, Microsoft has a line item that says other income, which is all -- which is now mostly OpenAI. And the losses are building there, and they doubled from last quarter to the most recently reported quarter, doubled.

So, if you get a double every quarter, you know, it's going to grow 300, 400 -- you know, 400 percent every year. And so that's spending, that's OpenAI spending on cloud and GPUs and, you know, Nvidia's GPUs, but there's only losses there.

So -- and -- and Microsoft is the one investing in OpenAI, so Microsoft's revenues are going up because OpenAI is buying their revenue, buying their cloud service. But Microsoft is the one giving OpenAI sort of free service, but it's not free. They're booking the revenues and they're getting in return investment percentage of OpenAI.

So, exactly like you're saying, there's a big circular driver here that really Microsoft's accelerated revenues is probably from OpenAI. Accelerated -- you know, Amazon's accelerated revenues is probably from Anthropic and Oracle, you know, announcing also the same $500 billion number as NVIDIA announced. $500 billion in backlog is most likely very much OpenAI, which has no profit -- no profit target, no profits in the near term to expect.

BRUNHUBER: So, all of that then adds to the fears that if sort of one goes down, it could drag the rest of them with it. So, let's -- before we go, look at why this matters. I mean, many, you know, regular folks out there with retirement accounts may not realize how exposed they are to tech stocks.

So, what's your advice to -- to people out there at home who are maybe getting nervous about this bubble that you keep saying might -- might burst and their retirement savings might be affected, but they also don't want to miss out on the potential gains you were talking about?

SIEGEL: Sure. So, I will simplify everything we just said. It sounds like the Magnificent 7, the Mag 7 and all the major tech companies are really being driven by a capital infusion cycle into OpenAI.

So, really the whole stock market that's driven by the Mag 7, their leaders at all those companies and their revenue acceleration is driven by OpenAI. So, everybody's pretty much in some form or another invested in a meaningful way and if OpenAI is successful, but they have no profit target. So, this is where the risk comes from.

So, now, look, we've identified that there's risk in the market. I think it now comes down to understanding how to identify a technical break, which is more of, you know, charting and watching chart patterns. But you know, I would say there's enough in the market that if the market was down five percent in one day and you see it down three percent another day, something changed.

[05:50:14]

And so everybody's fingers on the trigger for the big institutions. And I think that, you know, that can cause a cascade. But if you don't see those big down days, we're still in a bull market. Bull markets are smooth and steady and boring and sleepy and they go up one, two percent a day. They go down one, two percent the next day. It's not a big deal. But if you see down five percent days. Something's changed and people maybe should be a little bit more cautious.

BRUNHUBER: Yeah. Let's hope for smooth, steady, and boring because we've been through the alternative.

SIEGEL: Yeah,

BRUNHUBER: It's not fun.

Chaim Siegel, thank you so much for speaking with us. Really appreciate it.

SIEGEL: A pleasure. Thank you.

BRUNHUBER: We'll be right back here on CNN NEWSROOM. Stay with us.

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BRUNHUBER: More than 80 million people in the U.S. are expected to travel over the Thanksgiving holiday this weekend and weather could put a damper on those plans. Meteorologist Chris Warren has the forecast.

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CHRIS WARREN, CNN METEOROLOGIST: Sunday looking pretty quiet for much of the eastern seaboard but a little bit cooler for some as well. Where that sun is going to be seen in the northern tier cold front we're going to see cooler temperatures.

However, this is where there is the chance for more rain, more thunderstorms and possibly some flooding. So, Texas we're watching you and it's with this system that will continue to work across the southwest during the day here on Sunday and then push by late Sunday into Sunday night and into Monday morning that rain and even a flood threat.

And it's going to be in the zone that ends up with this, that yellow and orange, the two to four or even four to six inches of rain falling in a relatively short period in a matter of a few hours could lead to some flooding. So, just a heads up if you find yourself you plan to be in any of these areas and that does include the Dallas Fort Worth area.

Here's that big system and how it's going to play out in the coming days. Jumping ahead here to Monday as we watch this system push through the Mississippi River Valley into the Ohio Valley by overnight Monday into Tuesday. Notice here on the backside of this there is going to be some snow. So, that's a sign and a hint or a reminder that colder air is on the way and on the way in a big way here.

So, while temperatures are going to be a little bit cooler than Saturday for Sunday, even a little bit cooler than that here on Monday and Tuesday, but still warm. I mean still for this time of year we're knocking on the door of Thanksgiving here. Temperatures in the 70s in Atlanta, 80s in Orlando but this changes in a big way by the end of the week after this cold front comes through.

Daytime highs in Atlanta about 20 degrees cooler than where you are over the weekend with highs only in the 50s. Orlando, you're going to see temperature readings in the 70s and in Minneapolis, the Twin Cities here temperatures not getting above the freezing mark.

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BRUNHUBER: All right, that wraps this hour of "CNN Newsroom." I'm Kim Brunhuber.

For our viewers in North America, "CNN This Morning" is next. For the rest of the world, it's "Marketplace Africa."

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