Uptin & Thomas discuss:

• Home prices: More than half of U.S. homes are worth less than a year ago on Zillow, but most owners are still sitting on huge equity and almost no one is truly underwater.

• Nvidia earnings: Nvidia posts a record $57 billion in quarterly revenue, mostly from AI data centers, raising the question of whether this is an AI bubble or just the new normal.

• Target’s identity crisis: Longtime CEO Brian Cornell is out, an insider is in, and Target is stuck between Walmart prices, Amazon convenience and culture war fatigue.

• Sonder’s collapse: Once a billion dollar Airbnb–hotel hybrid, Sonder goes straight to Chapter 7 liquidation after its lifeline Marriott deal implodes.

• Turkey dinner math: Bird flu and higher wholesale costs behind the scenes, but supermarkets are using cheap turkeys as loss leaders to keep your Thanksgiving bill down.

• White Lotus in France: HBO confirms season 4 in Paris and the French Riviera, setting up a new round of rich people drama in châteaux, beach clubs and luxury hotels.