The trailer for a trailer is normally a rather annoying facet of the modern film promotion cycle and one that doesn’t usually warrant much attention. But we’re willing to make an exception for the latest Paul Thomas Anderson joint because, well, it’s Paul Thomas Anderson teasing the trailer for his next project. This morning, the Licorice Pizza director shared the first footage from One Battle After Another, his newest project starring Leonardo DiCaprio, Regina Hall, and Sean Penn. 

“What are we gonna do about this baby?” a voiceover (presumably Hall’s) states toward the beginning of the clip. The footage doesn’t reveal too much, but what’s notable here is the gunfire and action-movie running, two elements not typically associated with the director’s work. The film is also Anderson’s biggest budget by a wide margin, with The Wall Street Journal reporting last year that One Battle After Another was costing Warner Bros. about $140 million, a figure apparently more justified by the inclusion of DiCaprio than of Anderson. (The outlet notes that his highest-grossing film, There Will Be Blood, brought in $76 million in 2007.) In the clip, DiCaprio continues his streak of playing odd, vaguely disheveled guys, rocking a man bun to say “Just when you think you’ve got a handle on things…” 

The film is currently slotted for a September 26, 2025 release, per Consequence, and Teyana Taylor, Benicio del Toro, Wood Harris, and Licorice Pizza star Alana Haim round out the cast.