Back at the car wash, Skyler is showing Jr. how to work the register when Saul comes in, hilariously beaten up and paying for his ticket, meeting Jr. for the first time (who's a fan of his billboards), and bantering with them in his usual snarky way as Skyler nervously ushers him out. Walt meets up with Saul at the hoses, where Saul informs him Huell's disappeared and without his bodyguard he's now wearing a bulletproof vest as protection, thinking Jesse's gone on a killing spree. Walt denies this, but is at a loss to explain Huell's vanishing act, and when he gets back inside the car wash he receives a text from Jesse that appears to be a barrel of money.
This sends Walt racing to the desert with Jesse on the phone threatening to burn his money in a heartpounding sequence that has Walt yelling at him and in the process inadvertently confessing to every nefarious deed he's ever done for him, defending his actions as always being for Jesse's benefit, but Jesse was just too stupid to realize it. We of course, realize as he's saying all this that it's being recorded, but Walt has lost all capacity for rational thought at the possibility of losing his money. When Walt gets to the spot (which is called To'hajiilee, the name of the episode) it takes him a few minutes to realize Jesse tricked him and when he does he panics and hides behind a rock, realizing that Jesse has probably followed him as well. It's a testament to what a good actor Cranston is again, that he makes us see that the thought of the money being threatened was so massive that he lost all his judgment and good sense, never even realizing there's no way Jesse could have pulled off such a complicated trap without outside help. But of course he does now, and he calls Jack and the crew to come out and save him, thinking Jesse's going to have backup when he finds him, but as Jesse pulls up with Hank and Gomez, and Walt finally discovers who he's been working with, he tells Jack to call it off, and hangs up the phone in despair, leaning back against the rock as a tear rolls down his face, seemingly defeated.
Walt has given up and it's an incredible moment when he comes out from behind the rock and surrenders to Hank, who cuffs him and reads him his rights as Walt stares down Jesse the entire time, who appears just as amazed as we are that Walt has actually been caught. Walt calls Jesse a coward and Jesse responds by spitting at him as they try to fight each other, with Gomez and Hank pulling them apart. Hank puts Walt in the car and calls Marie to let her know he's gotten him, and this scene I could have done without, because there is WAY too much "I love you" and tearful goodbye exchanges going on between them for me not to have gotten the hint (actually the sledgehammer) that something bad was about to occur- sorry, but that meaningful good bye moment is in way too many movies, shows, etc. and it always means somebody's about to die.