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Rubio: 'Substantial Progress' in Ukraine Peace Plan Talks; U.S. to Name Maduro and Allies as Terrorist Organization; Israel: Hezbollah's Chief of Staff Killed in Beirut Strike; U.N.: $70B Needed to Rebuild Gaza Amid Extensive Destruction; Search Continues for Kidnapped Nigerian Schoolchildren; Is Stock Market at Risk of an A.I. Bubble?; Japan's New PM Faces Scrutiny Over Grueling Work Routine. Aired 12-1a ET

Aired November 24, 2025 - 00:00   ET

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

(COMMERCIAL BREAK)

POLO SANDOVAL, CNN ANCHOR: Hey, everybody. So glad you could join us. I'm Polo Sandoval live in New York. This is CNN NEWSROOM, and here's what's coming your way the next hour.

[00:00:44]

Tremendous progress. American and Ukrainian diplomats, they are optimistic following peace talks to end Russia's war. An expert joins me live to see if all sides may be able to reach a compromise.

As tensions between the U.S. and Venezuela simmer, the U.S. expected to name Venezuela's president as the leader of a terror group.

And after two years of war, little is left of Gaza. I'll talk to an expert who believes the devastation recovery, it's similar to rebuilding Europe after World War Two.

ANNOUNCER: From New York, this is CNN NEWSROOM with Polo Sandoval.

SANDOVAL: The U.S. says that it is making progress with Kyiv on the Trump administration's plan to end the war in Ukraine, which some critics are calling a capitulation to Moscow's war goals.

Delegations from the U.S. and Ukraine, they met in Geneva on Sunday.

U.S. Secretary of State Marco Rubio, who led the U.S. delegation, says that the negotiations were, quote, "probably the most productive and meaningful yet." He says the terms of the 28-point plan are evolving, with -- are at least evolving for now, with some input from. Ukraine and other European allies.

But he hasn't shared details about what exactly has changed. And he makes very clear that, quote, "Russians get a vote here, too."

Rubio, also addressing the chances of a deal that will be made by Trump's self-imposed Thursday deadline.

(BEGIN VIDEO CLIP) MARCO RUBIO, U.S. SECRETARY OF STATE: The deadline is we want to get this done as soon as possible. Obviously, you know, we'd love it to be Thursday. We'd love to be -- ultimately, the important point today is that we have made substantial progress. We've really moved forward.

So, I feel very optimistic that we're going to get there in a very reasonable period of time, very soon.

Our goal is to end this war as soon as possible, but we need a little more time.

(END VIDEO CLIP)

SANDOVAL: Ukraine's president is striking a tone of optimism, as well, saying that the Geneva talks were, quote, "substantive." He says that there are signs that President Trump's team is listening to Ukraine's concerns.

(BEGIN VIDEO CLIP)

VOLODYMYR ZELENSKYY, UKRAINIAN PRESIDENT (through translator): Diplomacy has been activated, which is good. Very good. We expect that the results will be the right steps.

The first priority is reliable peace. Guaranteed security, respect for our people, respect for everyone who gave their lives defending Ukraine from Russian aggression.

(END VIDEO CLIP)

SANDOVAL: Let's begin our coverage of the U.S.-brokered peace deal with CNN's Matthew Chance, who brings us the latest from Geneva.

(BEGIN VIDEOTAPE)

MATTHEW CHANCE, CNN SENIOR INTERNATIONAL CORRESPONDENT: It's been many, many hours of face-to-face negotiations between the U.S. side, led by U.S. Secretary of State Marco Rubio, and the Ukrainian delegation, as well.

CHANCE (voice-over): Both the leaders of those delegations, Rubio and Andriy Yermak, from the Ukrainian side, came out. They were very positive, said they were going to update us later on about what progress they were making.

But when that finally happened, Marco Rubio came out alone. The Ukrainians didn't turn up with him. Read into that what you will.

But, you know, for his part, the U.S. secretary of state was very upbeat. He said -- he said he was optimistic that the talks were going in the right direction. And he said there was a tremendous amount of progress during those negotiations.

It's been very up and down. Earlier, President Trump posted on his Truth Social media platform that he felt that the Ukrainians were still not being grateful, to paraphrase what he said. I asked Rubio about that, and he said, oh, you know, I've --

basically, I've spoken to the president since then, and I think he's now very pleased at the reports that we've given him.

CHANCE: Rubio, in the briefing to the media here at the U.S. embassy in Geneva, basically saying, look, we're making progress in the right direction, but there are still several issues that have to be talked about.

He kind of skipped over them. He wouldn't get into specifics about what exactly were the holdups in this negotiation with the -- with the Ukrainians.

You know, things like territorial concessions that the Ukrainians are being asked to make, things like limitations on the country's military, not just the size of the standing army, but other -- other limitations, as well.

[00:05:06]

Things like the nature of the security guarantees that the United States is prepared to offer Ukraine, as well.

Basically, Rubio was, you know, sort of saying these have to be dealt with. It's a process, et cetera, et cetera. But, you know, remember, these are massive obstacles standing in the way of Ukraine, you know, being able to, you know, accept in any way this 28-point proposal that has been laid at its feet by the United States, obviously, with the -- the close assistance of the Kremlin, as well.

And so, getting over those obstacles, getting Ukraine to accept territorial concessions, getting them to accept these limitations that are being placed on it, and giving Russia, essentially, everything it's asking for is a huge ask. And, you know, we're only at the start of that process now, and we'll see where it ends up.

(END VIDEOTAPE)

SANDOVAL: Britain, France, and Germany, they are currently drafting a counter-proposal to the U.S. peace plan for Ukraine.

According to text that's been obtained by Reuters, the European version removes all recognition of Russian territorial control, arguing that negotiations on land swaps would begin at the current front lines.

It also lists the 100-day deadline for elections in Ukraine, opting instead for elections as soon as possible, after a potential agreement would be signed.

And additionally, E-3 officials, they have loosened the language around NATO restrictions and also increased the cap on Ukraine's postwar army from 600,000 to 800,000.

And while diplomats weigh potential peace plans, some Ukrainian soldiers on the front lines, they are upset with the options that are being presented. One unit commander in Donetsk says that the sacrifices made by him and his troops, they must not be in vain, and also, that they will not accept ceding Ukrainian land to Moscow.

(BEGIN VIDEO CLIP)

VITALII TRAIKALO, UKRAINIAN UNIT COMMANDER (through translator): How can I put it? Why are we fighting, then? If they want us to give up everything, are we defending our borders here just to give them away? What's the point of all this, of all these sacrifices? People, soldiers are dying in large numbers. And on top of that, peaceful cities are being attacked.

(END VIDEO CLIP)

SANDOVAL: Let's get some live analysis on the situation right now from Robert English. He's the director of Central European Studies at the University of Southern California.

Welcome back to the program.

ROBERT ENGLISH, DIRECTOR OF CENTRAL EUROPEAN STUDIES, UNIVERSITY OF SOUTHERN CALIFORNIA: Thank you. Glad to be here.

SANDOVAL: So -- and it's great to have your insight here. Marco Rubio, he indicates that they have resolved some of the ongoing sticking points in this now-evolved version of the 28-point peace proposal for Ukraine.

Robert, from your perspective, could these weekend Geneva meetings be, perhaps, the beginning of the end of the war in Ukraine? Could they be another dead end? Or maybe it's just too soon to tell?

ENGLISH: It's too soon to tell. But there are -- there's every indication that we are moving towards the end game.

What's most important is that both sides: the Russian side and the Ukrainian side have accepted this 28-point plan as a basis for negotiation, which means it's not too far from something they could accept. They just want modifications.

That means there's still significant difference between them. But we've never had any common baseline. before. Not even remotely so.

And of course, it's the Ukrainians that are making most of the concessions. But that's in recognition of their increasingly desperate condition on the battlefield, and that Trump is putting the screws to them, and they really have no other choice.

But they are moving closer to an agreed position.

SANDOVAL: And I'll preface my next question by -- by reminding our viewers that, really, diplomats have not shared any specifics when it comes to any -- any of those concessions or changes.

However, what do you suspect some of those revisions of the plan could possibly be? Perhaps Russian withdraws, military limits? What do you think?

ENGLISH: I suspect they have more to do with the security guarantees, the size of Ukraine's future army. Right now, the Russian demand is it only be 600,000 men at arms. And the Europeans are pushing, of course -- the Ukrainians, as well, for something more like 800,000, closer to a million.

Of course, the backing from NATO allies, just what does it mean that there would be Article V-type guarantees; that we would come to Ukraine's aid in the event of a future attack? Where would NATO aircraft be based: in Ukraine or in neighboring Poland?

I think these are the kinds of things they're working on. But it's pretty clear that Ukraine has accepted it's going to lose a lot of territory and is no longer pushing for a ceasefire before there's any talks.

[00:10:09]

They understand now that they're going to make these big concessions, and they're arguing about important details.

SANDOVAL: Now, it's great that you remind us of -- of that NATO sticking point. And as we heard from the secretary of state, Marco Rubio in Geneva, say that, in order, for all of this to work, Russia still needs to sign on.

So, sort of looking into the future here, Robert, I mean, what are -- what is perhaps some of the pushback that we could see from the Kremlin when we finally get to publicly see some of the changes that have been made to the plan?

ENGLISH: Now there's where the rubber hits the road, because they could simply reject the plan. They could say it doesn't come nearly far enough to meet their demands.

And that's when we'll see the Trump administration put to the test. They are clearly putting enormous pressure on Ukraine. They're doing that publicly, and they're doing it privately. They're mocking. They're threatening.

And privately, they're saying the aid, the intelligence support will stop. This is it.

Will Trump do the same for Putin when they go back with a version that they have agreed to the Kremlin? Will Trump say, if you don't sign this, those Tomahawk missiles are coming. If you don't agree, then we are going to ramp up those sanctions and hurt your oil and gas exports even more. If you don't agree, we're going to try to cripple you financially.

Trump has weapons to play against Moscow that he hasn't so far. And that's where we'll see. Should Russia reject it, the onus will be on the White House to get them to join the rest and finally end this war.

SANDOVAL: And that's one "what if." I'm curious if, in the last few seconds I have with you, Robert, maybe we can explore another?

I mean, what if the Ukrainian president essentially says no to the deal? I mean, what is -- is there a real possibility that the United States could potentially turn its back on Ukraine?

ENGLISH: There's -- there is absolutely that possibility. I think the Trump team is threatening that.

But you know what's even more complicated, which is that Zelenskyy and his government could agree to these terms, but the parliament reject them, the supreme court reject them. Ukrainian society could say, we have fought and sacrificed too much to give it up all now.

And then the proposal would die. It would be stuck in committees and arguing. And you know, Ukraine itself could be really torn over this.

You know that Zelenskyy is in a very weak position because of all these corruption scandals. And now he's going to ask his people to swallow this bitter, bitter pill. It could be a very -- the toughest challenge of his career. He might not be up to it.

SANDOVAL: That is such an important point to end on there.

Robert English, as always, really appreciate your insight. And a reminder that, even if we have a deal, there are still many questions to be raised. Thank you.

ENGLISH: You're welcome.

SANDOVAL: Well, the United States will soon be designating members of Venezuela's government, including the president, as a terrorist organization. Just ahead, we'll discuss what this means for possible U.S. military strikes inside of Venezuela.

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[00:17:37]

SANDOVAL: In a matter of hours, the United States plans to designate Venezuelan President Nicolas Maduro and his allies in his government as a terrorist organization.

The Trump administration accusing Maduro of running a vast drug trafficking cartel, which Maduro denies, and his government argues doesn't even exist.

The terror designation will authorize President Trump to impose new sanctions. And the White House says that it will also allow them expanded options for military strikes inside Venezuela.

But legal experts are warning and saying that it will not explicitly authorize the use of lethal force. And there's no shortage of critics of the administration's actions on both sides of the aisle.

Republican Senator Rand Paul, speaking out on Sunday against the U.S. strikes on alleged drug boats in the Caribbean. (BEGIN VIDEO CLIP)

SEN. RAND PAUL (R-KY): They want to have it both ways. They want to say, oh, we can just say these people are terrorists. They're narco terrorists, so we can blow them up.

But it's extraordinary that, when some of them survive, they pluck them out of the water. They don't prosecute them for drugs. They don't collect drugs. They don't tell us if they were armed or not. They just send them back to their country, most of the time not being Venezuela. They've sent one back to Colombia and one back to Ecuador.

But nobody's making any pretense of even interviewing them to find out who's selling you the drugs. Maybe we could find out who the kingpins are if they're involved in the drug trade. Not a word.

(END VIDEO CLIP)

SANDOVAL: And then there's this view of public opinion on this issue. A CBS News poll showing that 70 percent of Americans would oppose military action in Venezuela.

It also found that 76 percent of Americans say that the Trump administration has not clearly explained their position on military action in Venezuela.

And you see there: 56 percent now saying that U.S. military action in Venezuela would not change the amount of drugs entering the United States.

Joining us now to help break all of this down is Eric Farnsworth. He's senior associate with the Center for Strategic and International Studies.

Welcome back, Eric.

ERIC FARNSWORTH, SENIOR ASSOCIATE, CENTER FOR STRATEGIC AND INTERNATIONAL STUDIES: Thanks, Polo. It's good to Be with you.

SANDOVAL: So, just to remind our viewers right now, President Nicolas Maduro, he faces a $50 million bounty from the U.S. Government, a massive mobilization of assets offshore that you and I talked about a week ago.

And then starting on Monday, this new terror designation that targets him from the White House.

So, the administration has not really said that their goal is regime change. But at this point, Eric, is there any other way to look at this?

[00:20:06]

FARNSWORTH: Well, it's probably the most prominent way to look at it. And I think the time frame is shortening considerably.

You mentioned the designation of the Cartel de los Soles tomorrow as a foreign terrorist organization.

You also have, really, peak readiness of the U.S. forces offshore in Venezuela, at least shortly.

You have the December 10th ceremony of the Nobel Peace Prize for Mara Corina Machado, which isn't necessarily determinative in Venezuela, but it is a data point.

And you have airspace being closed around Venezuela. The FAA has warned commercial air carriers to avoid the region until February 19.

So, you put all those pieces together, and the fact that the Trump administration is not doing anything to tamp down high expectations that something is happening, and you can draw the conclusion that I think some sort of activity could be in the offing before too long.

I'm glad you mentioned that message that was issued by the U.S.'s FAA. What do you think that could signify?

FARNSWORTH: Well, it could signify a real signal that action could be imminent of some nature. It doesn't say exactly what it could be.

You know, it could also just be a warning to Maduro and the Venezuelan regime that says, we could take steps if we want to. It's not a -- you know, it doesn't guarantee that something will happen, but I think it clears the air. No pun intended to really, you know, make sure that if something does occur that there won't be unintended impacts.

SANDOVAL: So, just going back to -- to Maduro now, Eric, I mean, would you see Maduro giving power if this if we end up in that, in that situation?

FARNSWORTH: I think the only way that he would consider leaving power peacefully would be if he is absolutely convinced that the use of force against him and his interests is imminent.

So, you have to have a credible threat of force to have a peaceful resolution. And I know it sounds ironic, but that, I think, is really what we're looking at right now. That does not mean that either force would be used if he doesn't leave and it doesn't mean that he's going to leave, even if he believes force will be used. So, it's really -- you're playing the odds here.

But I personally don't believe he is going to leave, unless, he is fully convinced that his own interests will be severely impacted. And that force, the use of force, is imminent.

Let's explore that peaceful route here. The diplomatic route. As we learned about a week ago that it could possibly involve talks between the White House and Caracas.

What do you think would be seen as a non-negotiable for the White House if these talks actually happen?

FARNSWORTH: Yes, it's a great question. And we should say that the U.S. administration has denied that they're talking to Maduro. So, you know, they may or may not be happening.

But it would seem to me, as a former diplomat myself, as a former State Department official, that now would be the best time to actually engage in the type of conversation that could lead to Maduro's departure and the departure of his regime.

The red lines would really have to be the departure of Maduro, as well as the inauguration of Edmundo Gonzalez, who is the democratically- elected president, who has not been allowed to take office.

But Venezuelans voted on July 28, 2024, for him. He won overwhelmingly over Maduro. He hasn't been allowed to take office.

But those would be the -- the two non-negotiable demands, as far as I would see it. Now, that doesn't mean that that's what the Trump administration will do. They might have their own considerations.

But at the end of the day, the whole purpose of a buildup like this is to get to a democratic transition. And the only way, by definition, you can do that is for Nicolas Maduro and his top lieutenants to depart.

So, I think that really has to be the -- the focus of the conversation.

SANDOVAL: Yes. Like you said it best: only the White House truly knows exactly what it intends to do here.

FARNSWORTH: Yes.

SANDOVAL: One of the many scenarios, though, Eric -- and you and I have talked about this -- includes maybe a U.S. invasion or occupation of Venezuela. You, though, you shared that you believe that's unlikely. Why is that?

FARNSWORTH: It is an option. Of course, it's an option, but I think it's unlikely for a couple reasons.

One is the force structure that's off the coast of Venezuela right now would not lend itself to an occupation force. It's not large enough. It's not constituted in that way. It's not to say it couldn't change over time, but right now, that's not seemingly where things are.

But I think you also now have to factor in U.S. domestic politics into that equation. I don't get the sense that the American public is looking for a new war, particularly in the Western Hemisphere, that would be lasting, and that would be certainly uncertain in terms of how long it might be and the cost and that sort of thing.

And so, you have some domestic considerations that would have to be taken into account.

At the same time, though, I don't think the administration is in a position to stand down and not do anything, because expectations have been raised. U.S. prestige and credibility have been put on the line. And so, something really would have to be done other. Other --

otherwise, you're really just handing Maduro and his regime a massive propaganda victory. So, within those two extremes, I think that's probably where we'll find the -- the range of options.

SANDOVAL: Yes. The administration has already poured so much time and resources into this, so we'll certainly see what happens next.

Eric Farnsworth, as always, appreciate your insight.

FARNSWORTH: Great to be with you again. Thanks for having me.

SANDOVAL: And President Trump is planning to unveil a new plan to address health care costs as soon as Monday. That's according to several sources speaking to CNN.

The White House is trying to avoid a spike in premiums caused by expiring subsidies to the Affordable Care Act, which, as we all know, that was a disagreement on how to do so that was a key sticking point that led to the recent six-week-long government shutdown.

Well, the potential new framework plans to temporarily extend those subsidies, but also the Trump administration expecting to add in some guardrails to limit their scope. And this would include income limits and also requirements for enrollees to pay some type of premium.

Israel says that it's killed Hezbollah's second most senior figure. Details of the deadly airstrike and Hezbollah's response just ahead.

Plus, the cleanup begins in Gaza. But that will -- but exactly what will life look like in the enclave after more than two years of constant bombardment? We'll explore that with my next guest after this break.

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[00:31:20]

SANDOVAL: Hey, everybody. Welcome back. I'm Polo Sandoval in New York, and these are today's top stories.

The U.S. secretary of state is praising negotiations with Ukrainian officials over Donald Trump's peace plan. Marco Rubio calling the Geneva talks productive and meaningful.

Ukrainian officials, they are thanking the U.S. for their diplomatic efforts. Ukraine's president says that the talks were substantive and says that his goals include a reliable peace and guaranteed security for his country.

The United States planning to name Venezuela's Nicolas Maduro and his allies in his government as a terrorist organization on Monday. Maduro denying U.S. accusations of running a drug cartel.

The White House insists that the designation will allow more options for military strikes inside Venezuela. But experts say that it will not explicitly authorize the use of lethal force.

The Israeli military says that it has killed Hezbollah's chief of staff in the first strike on Southern Beirut in months. Lebanon's health ministry says that five people were killed and more than two dozen injured in Sunday's attack.

The IDF says that the strike was meant to prevent Hezbollah from further strengthening its capabilities.

And Hezbollah is issuing a statement in response, calling the killing of its chief of staff, quote, "a treacherous Israeli attack."

CNN's Nic Robertson is following the developments out of Jerusalem.

(BEGIN VIDEOTAPE)

NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Yes. Haytham Ali Tabatabai was the No. 2 in Hezbollah, the chief of staff. Israeli officials said that he had the blood of both Israelis and Americans on his hands, that he had been a special forces commander training forces in Syria, training them in Yemen, as well.

ROBERTSON (voice-over): But what we've heard from the prime minister's office here is a very clear message that they believe that Hezbollah is trying to. Regroup itself. And we've seen an uptick in the number of Israeli air strikes on Hezbollah positions, or what the IDF says are Hezbollah positions in the South of Lebanon over the last few days and recent weeks.

And it's sort of significant, because the ceasefire agreement that was made between Israel and Lebanon almost a year ago called for Hezbollah to disarm and get out of the border region.

But what Israel has been maintaining is that Hezbollah is sort of trying to set up back in that region. So, a decision clearly taken to go after this. Number two in Hezbollah and go back to striking in the suburbs of Beirut, hitting this multi-story building in the Southern suburbs, hitting it with a direct precision strike, the Israelis say --

ROBERTSON: -- sort of on the fourth or fifth floor of this apartment building. As you say, five people killed, 28, according to Lebanese officials, injured in that. But Israels prime minister coming down very clearly and indicating that this may not be the last strike.

(BEGIN VIDEO CLIP)

BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER (through translator): The policy I'm leading is absolutely clear. Under my leadership, the state of Israel will not allow Hezbollah to rebuild its power, and we will not allow it to once again pose a threat to the state of Israel.

(END VIDEO CLIP)

ROBERTSON: So, the Lebanese president has called on the international community to do more to pressure Israel to curb its attacks here. Similarly, in the South of Israel, in Gaza, to the South of Israel,

Hamas calling on the international community to do the same there with the IDF, with Israel, to -- to push them, to cut back on strikes, increasing strikes in Gaza, as well.

In the past 24 hours, more than 20 people killed, according to Hamas officials in the past -- according to health officials inside of Gaza, in the past 24 hours and many others injured, as well.

(END VIDEOTAPE)

SANDOVAL: CNN's Nic Robertson with that report.

Palestinians and the international community, they are trying to figure out with a postwar Gaza, what it should look like. The United Nations says that around $70 billion is needed to rebuild the enclave.

U.N. agencies says -- say that the destruction across the enclave is about 84 percent. And in some parts of Gaza, including Gaza City, that number is even up to 92 percent.

Now, before Gaza can rebuild, it must still undertake the life- threatening task of clearing the mountains of rubble. Aid organizations estimating that there are more than 60 million tons of debris laced with thousands of unexploded bombs in the enclave. And there's also that delicate task of recovering deceased Palestinians entombed in the rubble.

Joining us now is Shelly Culbertson. She's senior researcher at research group Rand. Welcome to the program, Shelly.

SHELLY CULBERTSON, SENIOR RESEARCHER, RAND: Thank you for having me, Polo.

SANDOVAL: Of course. So, as the U.N. has already shared destruction in Gaza City alone, that is likely as high as 92 percent.

I think, really, that begs more the question of not -- not what's been destroyed, but what's actually left.

So, I'm wondering if you can give us just a reality check here on what the situation is like on the ground? What does that 92 percent figure actually look like?

CULBERTSON: So, there's enormous destruction throughout Gaza. So, about 90 percent of the population has been displaced some place North of 70 percent of -- of housing has been damaged or destroyed. Nearly all utilities, roads, etc.

The -- various estimates put reconstruction at this point at 50 to $70 billion. So, there is a lot to do, and there's a lot that can get in the way of -- of rebuilding well.

So, at the same time, it's not -- it's not all completely destroyed. There still is the underlying foundation of the cities that have been there, for centuries or for decades, in some cases. And it's important to try to conserve what is there and rebuild on it,

while at the same time using the opportunity to build something better there's still Shelly.

SANDOVAL: There's still, Shelly -- and I know you know this. There's so much uncertainty still around this conflict. There's still the strikes that have continued.

But I'm curious, what do you believe needs to be happening right now? While the political the security issues continue to be worked out? I mean, what needs to happen in order to try to get that rebuilding started in an expedited way?

CULBERTSON: So really, rebuilding can't really start in earnest until there are political and security agreements and that there's -- there's peace on the ground so that investors are willing to put funds into it.

At the same time, we know that there are going to be a lot of challenges and barriers to rebuilding. And some of the planning and preparation to address some of those issues could be started right now.

So, some of the big ones, for example, are property rights, working out a system for -- for compensating owners, dealing with dispute resolutions. Because so much has been destroyed and a lot of new plans will have to be made.

Rubble. There's some 60 million tons of rubble that are also laced with unexploded ordnance and human remains. Estimates for clearing that have ranged between 7 and 20 years. I think we've seen other comparable cases, like the city of Mosul after ISIS. They're still clearing rubble. So, rubble can take a really long time.

So, it's important to have a reasonable plan for that.

Materials. Rebuilding Gaza is going to take a massive amount of construction materials. At the same time, there have been restrictions on what can enter Gaza, both during the war and prior to it, under what are called dual-use restrictions. So that items deemed to be -- have civil and military use are restricted. So that includes concrete, rebar, et cetera.

So, something new will have to happen, because an enormous amount of materials are going to need to be brought in.

Financing. Billions of dollars will need to be going into this. And that has a risk of transparency, challenges, corruption, coordination that needs to get worked through.

The workforce. There need to be a lot of people to rebuild this. Gaza probably doesn't have that and will need a lot of training, as well as probably importing people.

So, during the time when these security and political negotiations are underway, it's also important to think about these technical steps and get those worked out so that when the security is right, the rebuilding can really kind of hit the ground running.

SANDOVAL: Yes, it's absolutely sobering. The idea that this could take not years, but potentially decades to undertake.

Now, it's also important not to lose sight of the people who've been affected. I mean, as of this month, the U.N. reporting that some 1.4 million people are in need of some sort of shelter items. We've seen some of those numbers. Nearly 2 million people, Palestinians displaced.

[00:40:07]

What happens to these -- to these people, while all of that's going on, everything that you've just described?

CULBERTSON: So, the vast majority of Gaza's population has been displaced. They can't move back into their homes. And so -- and reconstruction, as you mentioned, is likely to take, you know, decades. So, where do people live in the meantime?

And we developed a plan for that that tries to blend a range of housing approaches. So, it's important to get people back into some sort of dignified shelter while reconstruction is going on.

And that needs to really be a blend of several things. First, finding the places that are not destroyed and having people move back even if they're damaged, and rebuilding what still exists.

Second, camps are going to be inevitable. Camps are pretty terrible places, and they tend to last a long time. But given the -- the scale of the conflict, camps will need to be built.

So, what we need to do here is learn from past mistakes with camps and build camps that are, dignified and that can gradually evolve into neighborhoods, into the future.

And third, there are some areas that are going to be so bad that all you can do is raze them and rebuild them. But there are opportunities for all of these within Gaza.

When you look at the satellite imagery, there are places where you could put camps, where you could rebuild some of the neighborhoods. So. a lot of it really involves, working through a developed and robust housing plan.

SANDOVAL: Yes. We've seen Mother Nature putting those tents to the test just in recent days here. And clearly, those tents, that tent infrastructure, as it stands, is just clearly not sustainable.

As always, Shelly Culbertson, thank you so much for highlighting all these issues. And we'll certainly stay in touch.

CULBERTSON: Thank you so much for having me.

SANDOVAL: Still on the way here on CNN NEWSROOM, fear spreading across Nigeria after hundreds were kidnapped from a private Catholic school. And now the pope is weighing in. An important update on the numbers after the break.

(COMMERCIAL BREAK)

[00:46:50]

SANDOVAL: An update for you now. Fifty students who were abducted from their Catholic school in Nigeria are back home with their families at this hour. But 250 others are still being held by their captors.

The students, along with a dozen teachers, they were taken by armed bandits on Friday. And now, Pope Leo is calling for their safe release.

(BEGIN VIDEO CLIP)

POPE LEO XIV, LEADER OF CATHOLIC CHURCH (through translator): We make a heartfelt appeal for the immediate release of the hostages and urge the competent authorities to take appropriate and timely decisions to ensure their release. Let us pray for these brothers and sisters of ours, and that churches and schools may always and everywhere remain places of safety and hope.

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SANDOVAL: For the latest on the search, here's CNN's Larry Madowo.

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LARRY MADOWO, CNN INTERNATIONAL CORRESPONDENT (through translator): Anxious parents scramble to pick up their children from a boarding school in Nigeria. The nightmare scenario of armed gangs kidnapping students has once again set the country on edge.

This school in Kaduna state told parents the school was closing because of unspecified security threats.

GLORIA SAMUEL, MATRON, FEDERAL GOVERNMENT GIRLS COLLEGE ZARIA: They have to let children go for their safety. Their life is important that their education as far as now is concerned. So, I think it's the best.

MADOWO (voice-over): Meanwhile, a mass abduction from a Catholic school in the neighboring Nigerian state of Niger is terrifying parents.

More than 300 children and 12 teachers were kidnapped on Friday, though dozens have since escaped, according to the Christian Association of Nigeria.

All schools in the state of Niger have been closed.

And people across the country are demanding that the government provide more security at schools and churches.

IFEOMA ANEKE, BUSINESSWOMAN: I don't think anybody feels safe with what is happening in Nigeria presently, because the -- the kidnapping, the bandits everywhere, the killing. Everybody is so scared even to sleep. If you are sleeping, I don't think -- I don't think people are sleeping with their eyes closed.

MADOWO (voice-over): So far, no group has claimed responsibility for the abductions, and authorities say tactical squads and local hunters are looking for the children.

MOHAMMED UMARU BAGO, NIGER STATE GOVERNOR: It is not a time for blame game. Our mission today is to see how we can rescue these children and all those that have been kidnapped in that incident.

MADOWO (voice-over): But there is a growing fear and anger across Nigeria about security concerns, especially after several brazen attacks in the past week.

In Western Nigeria's Kwara state, gunmen raided a church service, killing at least two people. Dozens of worshipers were kidnapped but have since been freed.

And 25 female students were taken after armed men stormed a government boarding school in the Northwestern Kebbi state.

UNIDENTIFIED FEMALE: Bring back our girls.

UNIDENTIFIED MALE: Bring back our girls.

UNIDENTIFIED FEMALE: Bring back our girls.

MADOWO (voice-over): The violence once again putting Nigeria in the international spotlight.

Just over a decade ago, there was a global outcry after 276 girls from a school in Chibok were kidnapped by the terror group Boko Haram. Many of those girls never returned home.

U.S. President Donald Trump has expressed outrage over the alleged persecution of Christians in Nigeria and has even threatened military action to protect Christians from Islamist insurgents, though radical groups in the area attack both Christians and Muslims.

POPE LEO: (SPEAKING FOREIGN LANGUAGE)

[00:50:02]

MADOWO (voice-over): Pope Leo also weighing in on Sunday, saying he is saddened by the incidents and appealed for the immediate release of the captives.

Larry Madowo, CNN.

(END VIDEOTAPE)

SANDOVAL: More to come here on CNN NEWSROOM. Despite huge earnings news from tech giant Nvidia, we'll look at why investors remain fearful of a potential A.I. bubble.

(COMMERCIAL BREAK) SANDOVAL: So, as you know, investors, they have been worried for quite some time about a possible A.I. bubble. Their concerns were somewhat alleviated this past week when chipmaker Nvidia posted much stronger earnings than many had expected.

But still, it might not be enough to put all those bubble fears to rest, as CNN's Anna Cooban reports.

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ANNA COOBAN, CNN BUSINESS AND ECONOMICS CORRESPONDENT: So, the question of whether we're in an A.I. bubble and is it going to pop is a difficult one. We don't yet know.

But there are a few indications that might help us answer this question.

So, take a look here. You've got capex spending by four of the big hitters. You've got Amazon, Alphabet, Microsoft, Meta. Now capex is just a fancy way of saying companies spending money on physical stuff.

And a lot of this physical stuff at the moment are data centers that are really powering this A.I. boom. And you can see here that by 2030, these four companies alone, they're expected to have a capex that is up to around $600 billion.

And we have an estimate from the International Energy Agency that this year, it's expected that total global spending on data centers will supersede that of the amount spent on the global oil supply. So, that gives you a sense of how much money is going into this.

And then this chart here. I mean, look at this; look at this mess. This is just an enmeshed web of companies investing in each other, billions of dollars, with the promise of other companies buying their technology.

Now, what's worrying investors is that it's all a little bit cozy. You know, you can imagine one quarter, one company has very bad results or disappointing results. Investors head for the exit, not only with that company, but other companies, too, because their financial fates are seen to be quite tied together.

And then here we've got the S&P 500 price to earnings ratio. Now a high P to E sometimes can be an indication that a stock is overvalued. Not always.

But I'm going to take you all the way back to the late '90s. The dot com bubble which did then burst. It then popped. We are now approaching the levels we saw around that period of history. It doesn't mean we're in a bubble. It doesn't mean it's going to pop. But yet again, it's another indication that's worrying investors, especially when you consider that a really big chunk of the S&P 500, its value, is made up of tech companies that are spending big on A.I.

And then lastly, you've got Nvidia, one of the darlings of the A.I. world, hit a $5 trillion market cap just a few weeks ago. Its stock has fallen around 12 percent since then.

And we've seen big investors -- Peter Thiel's hedge fund, SoftBank in Japan say they've dumped all of their Nvidia stock.

Now, for different reasons, it doesn't mean that they don't think the company is valuable or that it's going to do well, but it is an indication that they aren't seeing that their best results, their best growth is going to come from this company.

Again, another crack in the picture that up until this point for A.I. has been nothing but positive and rosy. And that is making people worried and asking the question, are we in a bubble, and is it going to pop?

Anna Cooban, CNN, London.

(END VIDEOTAPE)

[00:55:06]

SANDOVAL: It's official: the second "Wicked" movie, it has outpaced the first film, with a worldwide box office gain of some $226 million. "Wicked for Good," it wraps up the original story of the Wicked Witch of the West. The film's plot, based on the Broadway musical version of the popular novel.

More than half of the film's earnings are from the U.S. box office, which some would say is a pretty good sign for Hollywood after a historically slow October.

Japan's new prime minister is under some scrutiny for her extreme work habits. So extreme that they're reigniting a long-standing national debate -- debate in Japan.

Here's CNN's Hanako Montgomery with more.

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HANAKO MONTGOMERY, CNN INTERNATIONAL CORRESPONDENT: Just two. hours a night. That's how much sleep Japan's new prime minister says she's getting. Four hours at the most.

SANAE TAKAICHI, JAPANESE PRIME MINISTER (through translator): I will work and work and work and keep on working.

MONTGOMERY (voice-over): Sanae Takaichi's sleeping habits have been gaining attention since she arranged a staff meeting at 3:00 a.m. to prepare for a budget meeting.

She later publicly acknowledged the inconvenience with staff, saying that the meeting time was necessary because of prior technical issues.

MONTGOMERY: She's not alone among Japanese people working long hours and failing to get enough sleep.

MONTGOMERY (voice-over): Japan struggles so much with the issue that there's even a word, "karoshi," for people who die from overwork.

Takaichi celebrated becoming the country's first female leader by promising to, quote, "throw away the phrase 'work-life balance.'" And she's since defended a discussion over extending rules on overtime to encourage economic growth.

NAOKO NAKAYAMA, JAPAN RESIDENT (through translator): I don't think it's something others should imitate. Prime Minister Takaichi is someone who is willing to devote her life to serving the country. Citizens don't need to copy that.

MONTGOMERY: Takaichi hasn't had much time to relax since her election.

MONTGOMERY (voice-over): In her first few days in office, she attended an ASEAN summit in Malaysia, welcomed Donald Trump for a state visit, and met Chinese leader Xi Jinping at the APEC summit in South Korea.

MONTGOMERY: Now, a row with China over her suggestion that Japan could become militarily involved if China uses force against Taiwan, could give her more sleepless nights.

(END VIDEOTAPE)

SANDOVAL: Appreciate you joining us for the last hour of news. I'm Polo Sandoval New York. The news continues after a very short break.

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