A man named Alderson awakens in a room that has hatches on each wall and floor, each leading to other rooms. He enters another room and is killed by a hidden wiretrap. Five different people all meet in another room: three men (Quentin, Rennes, and Worth), and two women (Leaven and Holloway). Quentin warns the group that he has seen traps in some of the other rooms. Leaven notices each hatch has plates with three sets of numbers etched into them. Rennes tests his theory that each trap could be triggered by detectors by throwing his boot into a room, and starts moving through the safe rooms. This works for motion detectors and pressure sensors, but fails to trigger the trap in one of the rooms and he is killed by an acid trap. Quentin believes each person was chosen to be there. Leaven hypothesizes that rooms whose plates contain prime numbers are traps. They encounter a mentally disabled man named Kazan, whom Holloway insists be brought along. Tension rises among the group, as well as the mystery of the maze's purpose. Worth admits to Quentin he was hired to design the maze’s shell and guesses that The Cube was created accidentally by a bureaucracy, and that its original purpose has been forgotten and that they have been placed inside only to justify its existence. Worth's knowledge of the exterior dimensions allows Leaven to calculate that the Cube has 17,576 rooms, plus a "bridge" room that would connect to the shell, and thus, the exit. She realizes that the numbers may indicate each room's coordinates. The group travels to the edge but realize every room there is a trap. They successfully traverse a room with a trap. Holloway defends Kazan from Quentin's threats. The group reaches the edge, but can see no exit. Holloway tries to swing over to the shell using a rope made of clothing. The Cube shakes, causing the rope to slip; Quentin catches it at the last second and pulls her up, but then deliberately drops her to her death, telling the others that she slipped. Quentin picks up Leaven and carries her to a different room in her sleep, intending to abandon Kazan and Worth. He tries to assault her, but Worth follows and attacks him. Quentin counters savagely, then throws Worth down a hatch to a different room. Upon landing, Worth starts laughing hysterically; Rennes's corpse is in the room, proving they have moved in a circle. Quentin is horrified, but Worth realizes the room Rennes died in has now moved to the edge of the maze, meaning they haven't gone in a circle at all. Instead, the rooms are moving, and will eventually line up with the exit. Leaven deduces that traps are not tagged by prime numbers, but by powers of prime numbers. Kazan is revealed as a savant who can calculate factorizations in his head instantaneously. Leaven and Kazan guide the group through the cube to the bridge. Worth then traps Quentin in a hatch. He catches up and attempts to attack them, but Worth opens a hatch under him from the room below. All but Quentin travel to the bridge where they open the hatch, revealing a bright light. Quentin reappears and, using a detached door lever, severely injures Leaven and Worth. As Quentin pursues Kazan through the exit, Worth grabs Quentin's legs, trapping him in the bridge’s doorway. The bridge moves, killing Quentin. As the bridge returns to the recesses of the cube, Worth crawls to a fallen Leaven as he too bleeds out. Kazan wanders out into the light.

In 2018, an American crewed mission lands on the Moon. The lander carries two astronauts, one of them an African-American model, James Washington, specifically chosen to aid the U.S. President's re-election (various "Black to the Moon" posters are seen, extolling the new landing). Upon landing on the far side of the Moon, they encounter the descendants of Nazis who escaped to the Moon. Washington is taken captive after the other astronaut is killed. Nazi mad scientist Doktor Richter examines Washington and obtains his smartphone, which he later recognizes as having more computing power than their 1940s-style computers, enabling its use as a control unit to complete their space battleship Götterdämmerung. When Richter strives to demonstrate his Wunderwaffe to the current Führer, Wolfgang Kortzfleisch, the phone's battery is quickly exhausted. Nazi commander Klaus Adler, seeking to marry Richter's daughter Renate, an Earth specialist, embarks in a flying saucer to collect more such computers on Earth. He takes with him Washington, who has been " Aryanized " by Doktor Richter using an " albinizing " drug. Upon landing in New York City, they discover that Renate has stowed away with them. They abandon Washington after he connects them with the President's campaign adviser, Vivian Wagner, who, in a parody of a scene from Downfall had raged at her staff for their inability to create effective marketing to improve The President's ratings. Adler and Renate energize the President's re-election campaign using Nazi-style rhetoric. Renate is unaware of Adler's ambition to rule the world. Later, Kortzfleisch interprets Adler's lack of communication as treachery. He commands a much larger fleet of flying saucers and giant Zeppelin -like spacecraft called Siegfrieds which tow asteroids as missiles. Renate finds a now homeless Washington on the street, and together they watch The Great Dictator. From this, Renate realizes the Nazis' true intentions and that Adler intends global genocide. Kortzfleisch lands on Earth and confronts Adler, but is killed by Adler and Vivian, who were beginning an intimate relationship. Adler declares himself the new Führer before returning to orbit in Kortzfleisch's flying saucer, deserting Vivian but taking her iPad. Afterwards, the Moon Nazis launch a blitzkrieg on New York City. The U.S. Air Force engage the flying saucers with some success. The United Nations assembles to discuss the Moon Nazi threat. The President appoints Vivian as commander of the secretly militarised spacecraft USS George W. Bush, which carries nuclear and directed-energy weapons, in blatant violation of the Outer Space Treaty. Vivian intends to get revenge on Adler, but is quickly outgunned, only to discover that every other nation (except Finland) has also broken the treaty and secretly armed their spacecraft. They dispatch them against the Nazi fleet and wipe out the Siegfrieds. Adler arrives in Kortzfleisch's flying saucer with the iPad to activate the Götterdämmerung. Renate and Washington travel in Adler's flying saucer, where Washington goes to disable the engines while Renate seeks out Adler. Meanwhile, the international space fleet damage the Nazis' Moon base and approach the Götterdämmerung which dwarfs them all. Commanding the Götterdämmerung, Adler destroys parts of the Moon to expose Earth to his line-of-fire. During the battle, Washington disconnects Vivian's iPad from the control panel of the Götterdämmerung, while Renate kills Adler before he can fire at Earth. Renate and Washington separately escape as the Götterdämmerung crashes into the Moon. The U.S. president congratulates Vivian from the UN session; whereupon Vivian discloses the presence of large tanks of helium-3 on the Moon, of which the President immediately claims on grounds that it ensures a millennium-long supply of energy. This enrages the other UN members, one of whom throws his shoes at her, inciting a large brawl. Meanwhile, the international space fleet turns on each other and every ship is destroyed in the process. At the damaged Moon base, Renate reunites with Washington, who has reverted his pigmentation back to normal. They kiss before a confused group of Nazi survivors. The final moments of the film show the Earth apparently during an international nuclear war. At the very end of the credits, the planet Mars is revealed with an artificial satellite in orbit.

Dom Cobb and Arthur are "extractors" who perform corporate espionage using experimental dream-sharing technology to infiltrate their targets' subconscious and extract information. Their latest target, Saito, is impressed with Cobb's ability to layer multiple dreams within each other. He offers to hire Cobb for the ostensibly impossible job of implanting an idea into a person's subconscious; performing "inception" on Robert Fischer, the son of Saito's competitor Maurice Fischer, with the idea to dissolve his father's company. In return, Saito promises to clear Cobb's criminal status, allowing him to return home to his children. Cobb accepts the offer and assembles his team: a forger named Eames, a chemist named Yusuf, and a college student named Ariadne. Ariadne is tasked with designing the dream's architecture, something Cobb himself cannot do for fear of being sabotaged by his mind's projection of his late wife, Mal. Maurice Fischer dies, and the team sedates Robert Fischer into a three-layer shared dream on an airplane to America bought by Saito. Time on each layer runs slower than the layer above, with one member staying behind on each to perform a music-synchronized " kick " (using the French song " Non, je ne regrette rien ") to awaken dreamers on all three levels simultaneously. The team abducts Robert in a city on the first level, but unknown to any team member, his subconscious projections, trained to anticipate such a scenario, attack them. After Saito is wounded, Cobb reveals that while dying in the dream would usually awaken dreamers, Yusuf's sedatives will instead send them into " Limbo ": a world of infinite subconscious. Eames impersonates Robert's godfather, Peter Browning, to introduce the idea of an alternate will to dissolve the company. Cobb explains to Ariadne that he and Mal entered Limbo while experimenting with dream-sharing, experiencing fifty years in one night due to the time dilation with reality. After waking up, Mal still believed she was dreaming. Attempting to "wake up," she committed suicide and framed Cobb for her murder to force him to do the same. Cobb fled the U.S., leaving his children behind. Yusuf drives the team around the first level as they are sedated into the second level, a hotel dreamed by Arthur. Cobb persuades Robert that Browning has kidnapped him to stop the dissolution and that Cobb is a defensive projection, leading Robert to another third level deeper as part of a ruse to enter Robert's subconscious. In the third level, the team infiltrates an alpine fortress with a projection of Maurice inside, where the inception itself can be performed. However, Yusuf performs his kick too soon by driving off a bridge, forcing Arthur and Eames to improvise a new set of kicks synchronized with them hitting the water by rigging an elevator and the fortress, respectively, with explosives. Mal then appears and kills Robert before he can be subjected to the inception; he and Saito are subsequently lost in Limbo, forcing Cobb and Ariadne to rescue them in time for Robert's inception and Eames's kick. Cobb reveals that during their time in Limbo, Mal refused to return to reality; Cobb had to convince her it was only a dream, accidentally incepting in her the belief that the real world was still a dream. Cobb makes peace with his part in Mal's death. Ariadne kills Mal's projection and wakes Robert up with a kick. Revived into the third level, Robert discovers the planted idea: his dying father telling him to create something for himself. While Cobb searches for Saito in Limbo, the others ride the synced kicks back to reality. Cobb finds an aged Saito and reminds him of their agreement. The dreamers all awaken on the plane, and Saito makes a phone call. Arriving in Los Angeles, Cobb passes the immigration checkpoint, and his father-in-law accompanies him to his home. Cobb uses Mal's "totem" – a top that spins indefinitely in a dream – to test if he is indeed in the real world, but he chooses not to observe the result and instead joins his children.

After 32 people mysteriously drop dead in Boston, the U.S. government calls in scientists Dr. Joshua "Josh" Keyes and Dr. Serge Leveque. They determine that each person had a pacemaker and that electrical interference has caused them to malfunction. Other incidents involving the Earth's magnetic field lead Josh and Dr. Conrad Zimsky to the conclusion that the Earth's inner core has stopped rotating. Unless it is restarted, the magnetic field will continue to degrade and eventually collapse, exposing the Earth to devastating solar radiation. The U.S. government devises a plan to detonate nuclear weapons within the Earth's outer core to restart the rotation. They bring on Zimsky's former partner, Dr. Ed "Braz" Brazzelton, to build a vessel to deliver the bombs. The vessel, named Virgil, is made of unobtainium, a material that Braz developed to withstand extreme pressure. NASA pilots Commander Robert Iverson and Major Rebecca "Beck" Childs are enlisted to pilot Virgil and computer hacker Theodore Donald "Rat" Finch is recruited to avoid general panic by keeping news of further disasters and Virgil 's mission off the internet. Virgil is launched through the Marianas Trench and enters the crust using a laser-based drilling array. After entering the mantle, Virgil drills and falls into a gigantic empty geode, damaging the drilling array. While working to free the vessel from the outside, Iverson is killed by a falling shard. They escape before the geode is flooded with magma. As Virgil passes through a field of diamond formations, one of them breaches the compartment housing the weapons-control module. Serge sacrifices himself to get the team the information and tools they need to detonate the nukes before the compartment is sealed and jettisoned. The team reaches the outer core and realizes that it is much less dense than previously believed, meaning that their nuclear payload is too small for their current plan. Zimsky shares this with mission leader Lieutenant General Thomas Purcell and reveals to the team his work on DESTINI, a U.S. tectonic weapon that likely stopped the core's rotation. Purcell orders them to return, as he plans to try to use DESTINI to restart the core. However, Josh argues that doing so could permanently destabilize it and trigger massive natural disasters. The team elects to continue over Zimsky and Purcell's objections. A burst of ultraviolet rays destroys the Golden Gate Bridge and causes power outages along the West Coast. Concerned about further power outages preventing DESTINI from being fired, Purcell gives the order to do so. Josh communicates with Rat about DESTINI and the latter prevents Purcell from firing the weapon by redirecting power away from it. The team devises a plan to place a bomb in each of Virgil 's remaining compartments, jettison them, and stagger the detonations, using constructive wave interference to increase the force of the bombs. Braz sacrifices himself, going into the uncooled crawlspace of the ship and activating the control so they can manually detach compartments. As they set the charges, Josh and Zimsky realize that the last bomb needs more explosive power than the others. The bomb in the second-to-last compartment falls on Zimsky's leg and he is unable to escape before the compartment is ejected. Josh uses the nuclear fuel rods from Virgil 's reactor to provide the additional energy for the final detonation. The main compartment is left powerless as the bombs begin to detonate, killing Zimsky, and successfully restarting the core's rotation. Josh recalls that unobtainium can convert heat and pressure to energy and the two restore Virgil 's power in time to ride the pressure wave from the explosions out of the core. Eventually they breach the ocean floor near Hawaii, but lose power due to the cold water. Purcell and the U.S. Navy conducted search operations for them until Rat realized that the Virgil crew is using low-power ultrasound to draw whales to them, leading to Josh and Beck being rescued. Shortly afterward, Rat uploads information about Virgil, its team, and DESTINI to the internet, leading to worldwide news reports and tributes to the lost team members.

"Cutters" edit the collected memories of the recently deceased into feature-length memorials that are viewed by loved ones at funerals. The "cutters code" forbids them to mix footage from implants, to sell memories, and to have the implant themselves. Ten-year-old Alan Hakman, while visiting a city with his parents, meets another boy, Louis, and the two bond as they play together. Louis reluctantly joins Hakman in exploring an abandoned factory, and Hakman crosses a wooden plank suspended high above the ground. Goaded by Hakman, Louis also attempts to cross the plank, but he loses his confidence and falls. Hakman races to the ground and panics when he steps in what he thinks is Louis's blood. Hakman flees the scene and tells no one what has happened. Later that day, he leaves the city with his parents. Years later, the adult Hakman has become a skilled cutter who specializes in editing the memories of controversial people into flattering life stories. When Fletcher, a former cutter, confronts him at a funeral, Hakman describes himself as a sin-eater, who brings redemption to the immoral. Fletcher offers him $500,000 for the memories of his latest client, wealthy businessman Charles Bannister, but Hakman refuses. In a meeting, Fletcher demands the memory recordings so that he can use Bannister, who he suspects was a pedophile, as a scandal to shut down EYE Tech, the implant manufacturer. Hakman again refuses and, worried for his safety, uses his knowledge from memory tapes to shake down a shady criminal for a pistol. As Hakman works through Bannister's memories, he encounters a scene that implies that Bannister was molesting his daughter Isabel, and Hakman wordlessly deletes it. He eventually comes across a person who he is convinced must be his childhood friend Louis. Excited, he sets up a meeting with Bannister's family to find out more information. Bannister's wife Jennifer is dismissive, but Isabel reveals that the man, recently dead of a car crash, was a teacher named Louis Hunt. Hoping that Hunt had an implant, Hakman organizes a break-in at EYE Tech, but they have no record of Hunt. However, Hakman surprisingly finds a file on himself that contains documentation of his parents' purchase of an implant for him. In his distress, Hakman turns to his lover, Delila. At his apartment, he shows her the equipment that he uses to view memories, and he demonstrates surreal footage from a defective implant. He leaves her alone as he seeks help from anti-implant protestors, who have discovered a way to block the implant through specialized body modification. When he returns to find his apartment in disarray, he assumes that Fletcher has broken in; instead, Delila confronts him, having found memory tapes that document her prior relationship. She accuses him of voyeurism and angrily destroys his memory viewer, which results in Bannister's files also being damaged. Fletcher and his associate finally break in, but they find nothing. Hakman tells Bannister's wife that the erased footage was lost in an accident, and she feigns disappointment, content to let dirty secrets stay hidden. Hakman asks his colleagues to recover live footage from his own implant, a potentially deadly process. They agree but admonish him that he can never cut memories again; a cutter with an implant is a violation of the "Cutter's code". The recorded memories show that Hakman had attempted to dissuade Louis from crossing the plank, and that he had stepped in red paint, not blood. Hakman, relieved, visits Hunt's grave but is confronted again by Fletcher, who has learned about Hakman's implant. After chasing Hakman through the graveyard, he hesitates and seems willing to let Hakman go; however, Fletcher's associate kills Hakman. Fletcher loads Hakman's memories (which contain the memories of everyone he had viewed as a cutter) into a viewer and promises to use them for the greater good. As he pages through Hakman's memories, looking for evidence of Bannister's guilt, he sees the young Hakman looking in a mirror.

In 1890s London, Robert Angier, Alfred Borden, and Angier's wife, Julia, work as magician's assistants under the mentorship of John Cutter. During a water tank trick, Julia drowns after Borden incorrectly ties her wrists. Angier blames Borden, and the two men become bitter rivals. Both men pursue separate careers in magic. Borden, a gifted inventor of illusions, marries a woman named Sarah, with whom he has a daughter named Jess, and hires an enigmatic assistant, Fallon. Angier, whose strength lies more in showmanship, continues working with Cutter and takes on a new assistant, Olivia. The feud escalates as Angier and Borden visit and sabotage each other's acts. Borden loses two fingers after being shot by Angier during a pistol trick, and Borden violently thwarts Angier's bird act in front of a live audience. Borden next debuts a spectacular illusion, The Transported Man, in which he appears to teleport from one side of the stage to the other almost instantly. Angier becomes obsessed with discovering the trick's secret and, with Cutter's help, roughly recreates the act using a lookalike named Root, a failed actor. Though Angier's version is successful, he resents remaining hidden beneath the stage while Root takes the applause. Desperate to outdo Borden, he sends Olivia to spy on him, but she falls in love with Borden and defects, and passes Borden's coded diary to Angier. Borden reveals to Angier that the key word, TESLA, supposedly decrypts the diary and reveals his method. Seeking answers, Angier travels to Colorado Springs to meet the inventor Nikola Tesla. Believing Tesla built a teleportation device for Borden, Angier commissions Tesla to make one. Tesla eventually delivers a working machine but warns that it will bring only misery. When used, the device creates a duplicate of its subject while leaving the original person intact. In London, Angier uses the machine in a new illusion, The Real Transported Man, which earns him acclaim. Sarah, suspicious of Borden's secrecy and affair with Olivia, hangs herself. Determined to uncover Angier's method, Borden sneaks backstage during a performance of The Real Transported Man and witnesses Angier fall into a water tank and drown. He attempts to open the tank and save Angier, but is arrested for Angier's murder, convicted, and sentenced to death. While awaiting execution, Borden is approached by a solicitor for a wealthy Lord Caldlow, who offers to care for Borden's daughter Jess in exchange for the secret behind the original Transported Man. When Caldlow visits the prison, Borden is horrified to discover that he is actually Angier. Borden passes this Angier a note revealing the secret, but Angier tears it up, leaving him to hang. Cutter helps dispose of Tesla's teleportation machine. A disguised visitor shoots Angier in the basement of his theater, revealing himself as Borden. The mortally wounded Angier learns the truth: "Borden" is in fact a pair of identical twins sharing one identity. One twin loved Sarah, the other Olivia; one lost two fingers, and the other amputated his same two fingers to match; one has survived, while the other was executed. Together they performed The Transported Man by switching places undetected, and whenever one twin was performing, the other hid using prosthetics and makeup under the identity "Fallon". Dying, Angier confesses that each time he used Tesla's machine, it created a clone, one of whom drowned beneath the stage each night, and that he is no longer sure of his own identity. The surviving Borden brother reclaims his daughter, as Cutter narrates that the final act of any magic trick—the "prestige"—is the return of what was thought lost. Angier's death knocks over a kerosene lamp that sends his theater up in flames, revealing rows of water tanks holding the corpses of his many duplicates.

During a surprise nuclear attack drill, many USAF Strategic Missile Wing controllers prove unwilling to turn the keys required to launch a missile strike. Such refusals convince Dr. John McKittrick and other NORAD systems engineers that missile launch control centers must be automated, without human intervention. Control is given to a NORAD supercomputer known as WOPR (War Operation Plan Response, pronounced " whopper "), or Joshua, programmed to continuously run war simulations and learn over time. David Lightman, a bright but unmotivated Seattle high school student and hacker, uses his IMSAI 8080 computer and modem to access the school district's computer system and change the grades for himself and his friend and classmate, Jennifer Mack. Later, while wardialing numbers in Sunnyvale, to find a computer game company, he connects with a system that does not identify itself. When asking for games, he finds a list that includes chess, checkers, backgammon, and poker, along with titles such as "Theaterwide Biotoxic and Chemical Warfare" and "Global Thermonuclear War", but cannot proceed further. Two hacker friends explain the concept of a backdoor password and suggest tracking down the Falken referenced in "Falken's Maze", the first game listed. David discovers that Stephen Falken was an early AI researcher and guesses correctly that the name of Falken's deceased son (Joshua) is the password. Unaware that the Sunnyvale phone number connects to WOPR at the non-public U.S. military installation at Cheyenne Mountain, Colorado, David initiates a game of Global Thermonuclear War, playing as the USSR while targeting American cities. The computer starts a simulation that briefly convinces NORAD military personnel that actual Soviet nuclear missiles are inbound. While they defuse the situation, WOPR nonetheless continues the simulation to trigger the scenario and win the game, as it does not understand the difference between reality and simulation. It continuously feeds false data, such as Soviet bomber incursions and submarine deployments to NORAD, prompting them to raise the DEFCON level toward retaliation that will start WWIII. David learns the true nature of his actions from a news broadcast, and the FBI arrests him and takes him to NORAD. He realizes that WOPR is behind the NORAD alerts, but he fails to convince McKittrick that he is not working for the Soviets and is detained to await arraignment on espionage charges. David escapes NORAD by joining a tourist group and, with Jennifer's help, travels to an island off the coast of Oregon where Falken lives under an assumed name. David and Jennifer find that Falken has become despondent, believing that nuclear war is inevitable and as futile as a game of tic-tac-toe between two experienced players. The teenagers convince Falken to return to NORAD and stop WOPR. WOPR stages a massive Soviet first strike with hundreds of missiles, submarines, and bombers. Believing the attack to be genuine, NORAD prepares to retaliate. Falken, David, and Jennifer convince military officials to delay the second strike and ride out the supposed attack until actual weapons impacts are confirmed. When three targeted American bases report no impacts, NORAD prepares to cancel the second strike. However, WOPR locks the staff out and tries to launch the missiles itself, using a brute-force attack to obtain the launch code. Without humans in the control centers as a safeguard, WOPR will be able to launch the missiles as soon as it determines the correct code. Falken and David direct the computer to play tic-tac-toe against itself. This results in a long string of draws, forcing the computer to learn about futility and no-win scenarios. WOPR obtains the launch codes, then cycles through all the nuclear war scenarios it has devised, finding that they all result in draws as well. Having discovered the concept of mutual assured destruction ("WINNER: NONE"), the computer tells Falken it has concluded that nuclear war is "a strange game" in which "the only winning move is not to play." WOPR relinquishes control of NORAD and the missiles and inquires, "How about a nice game of chess?"

In 2016, the United States is in a sustained economic depression. Industrial disasters, resource shortages, and gasoline prices at $37 per gallon have made railroads the primary mode of transportation, but even they are in disrepair. After a major accident on the Rio Norte line of the Taggart Transcontinental railroad, CEO James Taggart shirks responsibility. His sister Dagny Taggart, Vice-President in Charge of Operations, defies him by replacing the aging track with new rails made of Rearden Metal, which is claimed to be lighter yet stronger than steel. Dagny meets with its inventor, Hank Rearden, and they negotiate a deal they both admit serves their respective self-interests. Politician Wesley Mouch —nominally Rearden's lobbyist in Washington, D.C. —is part of a crowd that views heads of industry as persons who must be broken or tamed. James Taggart uses political influence to ensure that Taggart Transcontinental is designated the exclusive railroad for the state of Colorado. Dagny is confronted by Ellis Wyatt, a Colorado oil man angry to be forced to do business with Taggart Transcontinental. Dagny promises him that he will get the service he needs. Dagny encounters former lover Francisco d'Anconia, who presents a façade of a playboy grown bored with the pursuit of money. He reveals that a series of copper mines he built are worthless, costing his investors (including the Taggart railroad) millions. Rearden lives in a magnificent home with a wife and a brother who are happy to live off his effort, though they overtly disrespect it. Rearden's anniversary gift to his wife Lillian is a bracelet made from the first batch of Rearden Metal, but she considers it a garish symbol of Hank's egotism. At a dinner party, Dagny dares Lillian to exchange it for Dagny's diamond necklace, which she does. As Dagny and Rearden rebuild the Rio Norte line, talented people quit their jobs and refuse all inducements to stay. Meanwhile, Dr. Robert Stadler of the State Science Institute puts out a report implying that Rearden Metal is dangerous. Taggart Transcontinental stock plummets because of its use of Rearden Metal, and Dagny leaves Taggart Transcontinental temporarily and forms her own company to finish the Rio Norte line. She renames it the John Galt Line, in defiance of the phrase "Who is John Galt?"—which has come to stand for any question to which it is pointless to seek an answer. A new law forces Rearden to sell most of his businesses, but he retains Rearden Steel for the sake of his metal and to finish the John Galt Line. Despite strong government and union opposition to Rearden Metal, Dagny and Rearden complete the line ahead of schedule and successfully test it on a record-setting run to Wyatt's oil fields in Colorado. At the home of Wyatt, now a close friend, Dagny and Rearden celebrate the success of the line. As Dagny and Rearden continue their celebration into the night by fulfilling their growing sexual attraction, the shadowy figure responsible for the disappearances of prominent people visits Wyatt with an offer for a better society based on personal achievement. The next morning, Dagny and Rearden begin investigating an abandoned prototype of an advanced motor that could revolutionize the world. They realize the genius of the motor's creator and try to track him down. Dagny finds Dr. Hugh Akston, working as a cook at a diner, but he is not willing to reveal the identity of the inventor; Akston knows whom Dagny is seeking and says she will never find him, though he may find her. Another new law limits rail freight and levies a special tax on Colorado. It is the final straw for Ellis Wyatt. When Dagny hears that Wyatt's oil fields are on fire, she rushes to the scene of the fire where she finds a handwritten signpost that reads "I am leaving it as I found it. Take over. It's yours." Wyatt declares in an answering machine message that he is "on strike".

Four real-estate salesmen (Richard Roma, George Aaronow, Shelley "The Machine" Levene, and Dave Moss) are supplied with leads—the names and phone numbers of prospective investors—and use deceitful and dubious sales tactics. Many of the leads rationed by office manager John Williamson lack either the money or the desire to actually invest in land. The firm sends Blake, one of its top salesmen, to motivate the team. In a torrent of verbal abuse, he gives them notice of termination and tells them that only the top two deal-closers of the month, with one week to go, will keep their jobs and gain access to promising leads for the new and lucrative Glengarry Highlands development. Levene is a once-successful salesman in a long-running slump and with a daughter in the hospital. Levene tries to persuade Williamson to give him some of the Glengarry leads. Williamson is willing to sell some of the prime leads, but demands cash in advance, which Levene does not have. Moss and Aaronow complain about the firm's management, and Moss proposes that they steal the Glengarry leads and sell them to a competing agency. Aaronow wants no part of the plan, but Moss tries to coerce him, saying that Aaronow is already an accessory before the fact because he knows about the proposed burglary. Roma, the office's top closer, manipulates a meek, middle-aged man named James Lingk into buying property. Framing the deal as an opportunity rather than a purchase, Roma plays on Lingk's feelings of insecurity. The next day, when the salesmen arrive at the office, they learn that there has been a burglary and that the Glengarry leads have been stolen. Williamson assures Roma that his contract with Lingk was not stolen, and he and the police question each of the salesmen in private. After his interrogation, Moss has a shouting match with Roma and leaves. Lingk arrives to demand the return of his down payment under the three-day cooling-off period because his wife objects to the deal. Roma tries to stall and confuse Lingk but is interrupted by the police detective, who wants to question him. He lies to Lingk, telling him that the check has not yet been cashed and that there is time to cancel the payment when he returns from a trip on Monday. Williamson, who is unaware of the tactic, contradicts him, causing Lingk to rush out of the office upset. Roma berates Williamson for ruining his sale, unaware that Williamson also lied to him and the check was not cashed. Levene, proud of a big sale that he made that morning, also berates Williamson for "making something up" without knowing the situation. Williamson realizes that Levene could only have known he lied about the check being cashed if he broke into the office and saw the check on his desk (as he, in practice, always takes the checks immediately to the bank at the end of the night), and threatens to inform the police if he does not return the leads. Levene admits that he sold the leads to a competitor and split the money with Moss. Levene attempts to bribe Williamson with a share of his sales to keep quiet, but Williamson scoffs that Levene has no sales. He already knows Levene's latest buyers are a delusional couple who have no money. Levene realizes he has been set up to fail by being given a worthless lead, and asks Williamson why, to which Williamson replies "because I don't like you." Levene pleads for his ill daughter, but Williamson rebuffs him and leaves to inform the detective. Roma emerges from questioning. Unaware of the exchange, he compliments Levene on his sale and suggests that they form their own partnership. As Levene gets up to meet with the detective, he looks back wistfully at Roma, who has already returned to his sales work. Aaronow picks up the phone and calls a lead.