Apple News Today | Why the Fate of the U.S. Economy Could Depend on This Company

Date: November 20, 2025
Host: Shumita Basu

Overview

In this episode, Shumita Basu explores the outsized influence Nvidia wields over the U.S. economy, given its centrality to the ongoing AI boom. The episode examines Nvidia's impressive earnings, the broader economic implications, and whether the AI-fueled market surge resembles past bubbles. The show also reports on Trump’s controversial presidential pardons, updates on the Baltimore bridge collapse, Trump’s directive to release Epstein case files, a proposed Russia-Ukraine peace deal, and the quirky trend of "cow cuddling" as a rural revenue stream.

Main Segment: Nvidia, AI, and What’s at Stake for the Economy

The AI "Gold Rush" and Nvidia’s Dominance

• [00:00–02:17]
  Shumita Basu explains that Nvidia’s blockbuster earnings brought relief to markets; CEO Jensen Huang describes unprecedented demand for their AI chips, which now underpin massive swathes of the tech economy.

  “The reason why developers love us is because we're literally everywhere.” – Jensen Huang, Nvidia CEO [01:33]

• Nvidia’s chips are now considered the backbone of everything from cloud services to robots, making the company central to economic growth and investments—from pension funds to housing markets.

  “Even if you have zero interest or personal stake in AI, many would argue that everyone's finances are now kind of tied up in the technology one way or another because of its outsized role in driving American growth.” – Shumita Basu [01:54]

Expert Analysis: Bubble or Boom?

• [02:17–05:03]
  Greg Ip, Wall Street Journal chief economics commentator, unpacks market skepticism and extraordinary valuations.

  “Things are a little disproportionate. These companies are trading at multiples of hundreds of times earnings... When you hear companies like OpenAI talking about literally trillions of dollars of capital spending... their total revenue is a very, very small fraction of that.” – Greg Ip [02:49]

• Parallels are drawn to the '90s dot-com bubble, but differences in public sentiment are underlined. While the internet was embraced, AI makes people uneasy—primarily due to job fears, opacity, and risks of misuse.

  “Surveys this year show just the opposite with AI—by a 2 to 1 margin they're uncomfortable with AI...the big difference is the very real fear people have is that this technology is going to take all their jobs away.” – Greg Ip [04:13]

Political Focus: Trump’s Pardon Practices

Shifting Standards and Direct Access

• [05:03–08:08]
  Shumita Basu outlines a spree of presidential pardons, some for high-profile figures with direct White House connections, and describes how traditional procedures have been bypassed.

  “All of the traditional rules and procedures pertaining to pardons have been thrown out the window.” – Liz Oyer, former Pardons Attorney (as reported) [06:14]

• Jeremy Kohler, ProPublica reporter, notes virtually all recent Trump pardons have gone to allies and supporters, not through formal applications.

  "Virtually none of the people that he's pardoned have even asked for them, have even applied for them. They're almost all people who he has just unilaterally pardoned..." – Jeremy Kohler [07:05]

• Kohler shares a telling anecdote:

  “I told my guy he’d probably be better off if he had broken into the Capitol or made a major donation to the Trump campaign.” – Missouri attorney (as relayed by Kohler) [07:57]

Systemic Effects

• Only 10 out of roughly 1,600 pardons went through the proper legal queue, leaving many ordinary petitioners languishing.
• The Justice Department maintains the Office of the Pardon Attorney stays "consistent, unbiased, and uphold[s] the rule of law." [08:08]

Baltimore Bridge Collapse: Unseen Aftermath

Crew Still in Limbo

• [09:11–11:45]
  Recap of March 2024’s Francis Scott Key Bridge collapse from a cargo ship accident. While the investigation points to preventable technical failures, reporter Hayes Gardner highlights a side story: the ship’s crew, mostly from India and Sri Lanka, is still detained in Baltimore.

  “Nine of those crew members who were aboard that vessel at the time of the collapse have never left Baltimore.” – Hayes Gardner [09:40]

• The crew is neither arrested nor free; they linger in extended-stay hotels, cut off from families for nearly two years, even while the ship itself is back in service.

  “Some of them are even keeping nocturnal hours to be in closer contact with family back home because ... there isn’t a lot for them to do.” – Hayes Gardner [10:13]

• One crewman was allowed home for his wedding, but returned to uncertain detainment.

• Gardner notes there’s no legal limit for how long witnesses can be held in such limbo.

Quick News Highlights

Trump Orders Epstein Files Released

• Trump signs bill to declassify DOJ case files on Epstein; concerns linger about victim privacy and investigations.

Proposed Russia-Ukraine Peace Deal

• U.S. proposal asks Ukraine to give up territory and demilitarize in exchange for security guarantees; met with immediate Ukrainian objections.

Cow Cuddling: Farms Diversify

• Farmers turn to "cow cuddling" as a new revenue stream, with clients of all ages paying to relax with docile cattle.

  “A farmer in England who offers the service says it’s like having a big dog in your lap. No cows commented to the Post, but a farmer speaking on her bovine’s behalf said, it’s basically like a spa day for them.” – Shumita Basu [12:19]

Notable Quotes and Segments

| Timestamp | Speaker | Quote | |---------------|------------------|-------------------------------------------------------------------------------------------------------------------------------| | 01:33 | Jensen Huang | “The reason why developers love us is because we're literally everywhere.” | | 02:49 | Greg Ip | “Things are a little disproportionate. These companies are trading at multiples of hundreds of times earnings...” | | 04:13 | Greg Ip | “Surveys this year show ... by a 2 to 1 margin they're uncomfortable with AI ... this technology is going to take all their jobs away.” | | 06:14 | Liz Oyer | “All of the traditional rules and procedures pertaining to pardons have been thrown out the window.” | | 07:05 | Jeremy Kohler | “Virtually none ... have even applied for them. They're almost all people who he has just unilaterally pardoned...” | | 07:57 | Missouri Attorney (via Kohler) | “I told my guy he’d probably be better off if he had broken into the Capitol or made a major donation to the Trump campaign.” | | 09:40 | Hayes Gardner | “Nine of those crew members ... have never left Baltimore.” | | 10:13 | Hayes Gardner | “Some of them are even keeping nocturnal hours to be in closer contact with family back home..." | | 12:19 | Shumita Basu | “A farmer ... said, it’s basically like a spa day for them.” |

Episode Flow & Timestamps

• 00:00–02:17 – Nvidia’s market dominance and why its earnings matter to everyone
• 02:17–05:03 – Greg Ip on Wall Street’s AI optimism, potential bubble, and public anxiety
• 05:03–08:08 – Inside Trump’s modern-day pardon process with expert and personal stories
• 09:11–11:45 – Update on Baltimore bridge collapse investigation and effects on crew
• 11:45–End – Headlines: Epstein files, Russia-Ukraine deal, cow cuddling trend

Tone

Straightforward, analytical, with a touch of curiosity—Shumita Basu leads listeners through complex and quirky news in a conversational style, interweaving expert interviews with in-depth reporting and lighter stories.

This summary covers all major reporting and analysis in the episode, omitting intro/outro and advertisement content.