The film follows the story of Dr. Bill Harford (Tom Cruise), a wealthy New York City doctor, and his wife Alice (Nicole Kidman), who embark on a journey of self-discovery and confront their marital issues. The story begins with a night out in New York City, where Bill and Alice have a candid conversation about their desires and fantasies. The next day, Bill becomes infatuated with a young patient, and his obsession leads him on a surreal journey through the upper echelons of New York society.