Category: 3. Business

NVIDIA’s (NVDA) “Doubters Really Have a Lot of Thinking to Do,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About. NVIDIA Corporation (NASDAQ:NVDA) is one of the stocks Jim Cramer discussed.

This show was aired the day after AI GPU designer NVIDIA Corporation (NASDAQ:NVDA) reported its earnings for its third fiscal quarter. The results saw the firm report $57 billion in revenue and $1.30 in earnings per share to beat analyst estimates of $54.9 billion and $1.25. Heading into the earnings, Cramer had asserted that NVIDIA Corporation (NASDAQ:NVDA) was still the “gold standard” and outlined that if the firm managed to smoothly launch its latest Vera Rubin chips, then “there might be a level where I say hey listen we own it from a very low basis.” During this appearance, he discussed NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang’s comment about a new “wave” of agentic AI systems that were capable of reasoning and analysis. Huang believes that the transition to generative AI is necessary for businesses, and the transformation to agentic and physical AI will be revolutionary. As he discussed NVIDIA Corporation (NASDAQ:NVDA) after the earnings, Cramer started by admitting that he was left short of words for a brief while:

NVIDIA’s (NVDA) “Doubters Really Have a Lot of Thinking to Do,” Says Jim Cramer

“Last night, I went out to dinner and came back. For a couple of hours I thought what am I going to say today, it’s such a different narrative from what we hear. And I think that what we heard last night was, these companies aren’t spending enough. Everytime they spend, they make much more money. So they’re trying to get as many chips as they can. Which is the opposite of what we’re hearing. The circular analysis, David, there was, they’re ready to sell anything they want to. They’re up on almost everything. They’re good investors, so the idea that there’s this Lazy Susan circular nature, is defeated. And the notion, where we are in the world is far different from what people think. Far further and we’re getting there. You know and the reason I start with this to you David, is because he’s saying look the world is going to change so rapidly in the next three years and it’s all gonna be software written on NVIDIA. I found that to be, I’m not saying that’s revolutionary, that’s too strong, but the doubters really have a lot of thinking to do. Including people who say bubble AI, who . . .don’t know about the revolution that’s occurring.

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November 23, 2025
Inside the rise of a £1m Glastonbury tickets scammer
Carlo Mole,

Laura Gaynor and

Joseph Lee

BBC/SpunGold TV/Getty Images

Miles Hart struck deals to sell £1m of Glastonbury tickets – then vanished

Miles Hart had a reputation as a guy who could get anything. Friends from the elite private school he used to attend say he once surprised them with an all-expenses-paid trip to Paris on a private jet with less than 24 hours notice.

So when he started selling Glastonbury tickets, hospitality passes and VIP Access All Areas passes – claiming he had privileged access because of land his family owned near the festival site, or by working with a company at the event – many of his former schoolmates jumped at the chance.

Within a couple of years, his sales had gone global, as he struck deals to sell about £1m of passes to punters who had missed out in the annual scramble for official tickets on the Glastonbury website.

But as the day of the 2024 festival approached, Miles’s promises of tickets proved to be a mirage, created out of false invoices and fake email addresses. Miles, now 27, went into hiding.

How did Miles Hart get away with it? The BBC has spoken to some of his former friends to trace the rise of a scammer brazen enough to lie to his dead friend’s family and to run up tens of thousands of pounds in unpaid debts to his godmother along the way. Behind him, he left a trail of destruction: debt, anger and threats.

‘Crazy amounts of money’

Miles Hart was sociable, clever and witty – the joker of the group. That is how he is remembered by some of his former friends at Millfield School, which is famous for producing multiple Olympians and sports stars such as Formula One driver Lando Norris.

The £12,000-a-term school in Somerset is just a few miles from Glastonbury Festival’s famous Pyramid Stage. “Everyone wanted to be there. Miles was someone who could get you in,” says Elle, who knew him from the age of 10.

Millfield School

Miles got friends into Glastonbury when they all attended nearby Millfield School

Glastonbury Festival is one of the hottest tickets in the world, usually selling out within minutes. The festival says only tickets bought from its official seller See Tickets are valid and they are linked to photo ID to keep them out of the hands of touts.

But if anyone could offer an alternative way in, they would be able to demand a high price.

Elle says Miles got her a wristband for entry one year and they went to the festival together. After they left school, he began selling tickets.

Seb, another former Millfield pupil two years older than Miles, says he bought a ticket from him for the 2022 festival, the first one since Covid.

He says Miles had told him he had 42 hospitality tickets to sell, which he had been given because his family rented out land for luxury tents at the festival. “I thought it was like an exclusive opportunity and I really didn’t want to miss out,” Seb says.

But two days before the festival, after chasing Miles for months, Seb says he contacted Glastonbury Festival to confirm the allocation of hospitality passes. The festival told him it had never heard of Miles. Seb’s attempted calls to him afterwards were declined.

“I had heard anecdotally that he was partying in Paris and that made me feel incredibly bitter,” Seb says.

BBC/SpunGold TV

Friends wondered how Miles could afford his extravagant lifestyle

Elle’s best friend Cian had also given Miles money for tickets that year and asked for her help in getting it back. Then other mutual friends got in touch to ask Elle if she knew Miles, saying they had also been scammed.

A few months later, Cian died suddenly from a heart attack. Elle and another friend flew out for the funeral in New Zealand, where Cian’s family are from. Cian’s mother asked Elle to get Miles to pay back the £500 he owed, to help with the funeral costs.

Miles sent a voice note saying the money was already in the post. But three years on, the family have received nothing.

In 2023, Miles was at it again, selling Glastonbury tickets to about 50 people and failing to deliver. Kate, another of Miles’s old friends, says she was added to a WhatsApp group with former school friends and acquaintances who said they had been ripped off.

More people in their social circle were added, Kate says. Some said Miles had borrowed money and not repaid it, while one person posted a receipt from a London nightclub with a staggering bill, saying: “Where’s your friend? He owes me £200k.”

People speculated about how Miles maintained his extravagant lifestyle; Kate and Elle wondered if their surprise trip to Paris the previous year had been paid for with “scammed money”.

“Everyone knows someone who knows someone who’s been scammed by him,” Elle says. “And all the whilst he was doing this, he was going on like really crazy bougie holidays and spending crazy amounts of money that probably wasn’t his.”

Elle says this is the moment when she decided she wanted to find out how far the lies had gone.

But Miles was about to pull off his biggest scam yet.

‘Shut the whole thing down’

In the run-up to Glastonbury 2024, some punters who had missed out on the official sale were trying to score tickets from two other sources: an Ibiza promoter called Kai Cant who had put out an Instagram story saying he could get hospitality tickets for £1,350, and a company called Star Gaze Entertainment.

Both of them had, in turn, been promised the tickets by Miles Hart.

One of Kai’s customers, a DJ called Danny, was told that Miles had said he ran a catering firm working in the hospitality areas at the festival, which gave him access to tickets. Danny was also told that Miles had said his mother, Susannah Hart, could get tickets through her connections as a local councillor, and that she was not someone who would ruin her reputation by becoming involved in anything shady.

In fact, Somerset councillors have no special access to Glastonbury Festival and Susannah Hart had no involvement in Miles’s ticket schemes.

One of the people who worked at Star Gaze as a summer job, Will, told the BBC he had sold hundreds of thousands of pounds worth of tickets for the company, but he did not know who was supplying them.

Getty Images

Glastonbury tickets are in huge demand and usually sell out within minutes

In total, customers of Kai and Star Gaze spent almost £1m on Glastonbury tickets to be supplied by Miles Hart.

With weeks to go, Will says the calls and emails to Star Gaze from people asking where their tickets were had become incessant. In group chats, Kai’s customers were also suspicious they had been ripped off.

“If this was all a big scam, would I be on the phone to you now?” Miles said in one voice note message to a panicked Kai.

Miles said he did not want to entrust the tickets to the postal system, so he arranged to meet Kai’s customers in hotels across England to hand them over personally. Will travelled to meet him at a pub in Glastonbury to pick up the Star Gaze customers’ tickets.

They waited for hours with no sign of Miles, in Glastonbury or at any of the hotel meet-ups. Customers could not reach him because he had always phoned them with his caller ID hidden.

Danny says his phone suddenly received a call from a hidden number and he knew it was Miles. “I’ve had problems with my phone,” Miles said to explain his silence. He said the tickets had fallen through because “Glastonbury have found out about them and shut the whole thing down”.

BBC/SpunGold TV

Danny, a DJ, was told by Miles the ticket sales had fallen through because Glastonbury had found out

Miles was next seen in a clip on social media – with someone confronting him in the street and demanding his tickets or a full refund of £10,000 by the next day. “Yeah, I’ve agreed to that,” Miles is heard to say.

And then, he vanished again.

‘Physical harm’

Elle wanted to understand the extent of Miles’s deception, so we travelled with her to meet his godmother, Annamaria.

Years earlier, when Miles’s mother Susannah was going through a divorce and was suffering financially with the mortgage and school fees, Annamaria had stepped in. She contributed to the school fees and took over the mortgage, intending to help the family renovate and sell their home.

She says that Susannah Hart ended up owing her £300,000 in total, but that Susannah had refused to sell the house or to resolve the financial issues. Three court cases and three appeals later, and Annamaria ended up owning the house. Susannah Hart did not respond to the BBC’s requests for comment.

When Annamaria put the house up for auction in 2023, to her surprise Miles was at the sale. He bid and won the house, giving a cheque of £90,000 for the deposit. But three days later, the cheque bounced.

She sold the house to someone else, but under the rules of auctions, Miles still owes her the money. “To this day, I don’t understand why he did it,” Annamaria says.

In the house clearance, Annamaria found a box file filled with documents. She showed it to Elle: it contained dozens of bank cards in different names – the names of Elle’s friends.

BBC/SpunGold TV

Elle discovered Miles had bank cards in the names of many of their friends

Elle spoke to her friends who said that, in the first year of university, Miles had asked several people if they wanted to make an easy £100. He told them he would sign them up for a bank account, send them the referral fee and cancel the card.

Criminologist and financial crime expert Dr Nicola Harding told Elle that instead of cancelling the cards, it appeared that Miles had made their friends into “money mules” – people whose bank accounts are used by scammers to quickly create a chain of transactions and make illicit cash harder to track.

“I can’t believe that he would, like, put those people – specifically that he was so close to – I just can’t believe he put them in that position,” Elle says.

Other people felt the fallout from Miles’s deceptions. Kai Cant went into hiding in Spain, saying on Instagram the scam had left him with debts of £500,000 and put his life at risk. And the new owner of Miles’s home told the BBC how he and his wife had been threatened after their address had been posted online.

Speaking anonymously, he said they had been visited by debt collectors, bailiffs, people owed money and, on one occasion, two “very large men” who appeared to want to “cause us physical harm”.

The new owner has now installed eight security cameras, automatic number plate recognition, facial recognition and a network of lasers to detect intruders. “It really is like Fort Knox,” he said.

‘An honest person’

So where is Miles now? The BBC obtained a covert recording of Miles meeting an unknown man, apparently on the pretext of carrying out a business deal.

In the recording, Miles says he is working for a client who has a “huge cash flow issue” and needs a loan. But Miles claims the client has assets worth almost a billion euros.

The man asks about Miles’s role and Miles admits he has “debt that needs to be paid”. “I was involved in something that went wrong,” he says.

Miles gives an account of how the festival ticket sale went wrong and says one group of customers are angry, but the rest are willing to wait for their money.

The other man then says: “What if I told you that I represent one of these groups? Some of the nastier groups. There’s a lot of people wanting blood.”

He warns Miles that the debt – £480,000 to the group the man says he represents – is not going away, and Miles promises to pay within 56 days. “I am an honest person,” Miles says.

BBC/SpunGold TV

Miles’s whereabouts are unknown – but he said there were “errors” in the allegations against him

That recording was made last summer, but the BBC understands Miles has not refunded anyone.

Kai Cant said he has paid back everyone who bought tickets through him. Star Gaze Entertainment has shut down and Benjamin Harris, the company boss, cannot be found.

The Metropolitan Police said it is investigating up to 50 allegations of ticket fraud relating to Glastonbury 2024.

Miles Hart was contacted for comment and said, through lawyers, that there were numerous “material errors” in the allegations made against him and that some of the people who spoke to the BBC “cannot be relied upon to represent an accurate portrayal of events”.

His whereabouts are unknown, and he was last spotted at a pub near Glastonbury, a few days before this year’s festival.
This story is part of BBC Scam Safe Week, which brings together content from across the BBC to help the public stay informed in the fight against scams
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November 23, 2025
“Oracle’s (ORCL) a Legitimate Question,” Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About. Oracle Corporation (NYSE:ORCL) is one of the stocks Jim Cramer discussed.

Like CoreWeave, Oracle Corporation (NYSE:ORCL) also provides computing infrastructure to AI software firms. However, unlike CoreWeave, Cramer has started to discuss the firm almost daily. The CNBC TV host’s comments about Oracle Corporation (NYSE:ORCL) revolve primarily around the firm’s remaining performance obligations (RPOs). The shares, which were up 97% year-to-date at one point, have trimmed the gains to 26% since early September. Oracle Corporation (NYSE:ORCL)’s stock had soared after the firm revealed in its fiscal Q3 earnings that its RPOs stood at an unbelievable $455 billion. While Cramer was initially stunned by the announcement and commented on September 10th that “I couldn’t believe it when I heard it. I thought they were making this stuff up,” he has gradually formed an opinion since then.

“Oracle’s (ORCL) a Legitimate Question,” Says Jim Cramer

During this appearance, he discussed Oracle Corporation (NYSE:ORCL) after co-host Carl Quintanilla mentioned a WSJ report about the firm never having given up gains this large this fast and being the most indebted company with an investment grade rating:

“The Oracle, look Oracle’s a legitimate question, I felt better about OpenAI after last night.”

While we acknowledge the potential of ORCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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November 23, 2025
UK gambling firms spent ‘astronomic’ £2bn on advertising last year | Gambling

British gambling companies spent an “astronomic” £2bn on advertising and marketing last year, according to a new estimate that has intensified calls for the chancellor to increase taxes on the sector.

Bookmakers, online casinos and slot machine companies spent the sum through a mixture of print and digital promotions, as well as affiliate programmes, where third parties are paid to steer gamblers towards particular operators in return for a fee.

The figure, produced by the leading media insights group WARC, far outstrips the £1.2bn that the Treasury collected last year from online casino companies.

Media industry sources said the total spent on gambling advertising is likely to be hundreds of millions of pounds higher because it is difficult to accurately measure the actual amount of digital marketing spend.

That means that the true figure could be close to, or even higher than, the £2.5bn raised last year by the three main duties that the industry pays, which also include taxes levied on slot machines and sports bets.

The chancellor, Rachel Reeves, is under pressure from thinktanks, MPs and former prime minister Gordon Brown to raise these duties at Wednesday’s budget, as she attempts to raise funds to shore up the ailing public finances.

The Betting and Gaming Council (BGC), an industry group that has lobbied hard against any such move, disputed WARC’s estimate, claiming that industry ad spend was closer to £1bn.

This estimate is significantly less than a 2018 figure of £1.5bn given by Regulus Partners, a consultancy favoured by the gambling industry.

As Reeves considers whether to raise gambling duties – and by how much – the higher estimate fuelled calls to ignore industry warnings about the potential impact of a tax rise.

Meg Hillier, the chair of the influential Treasury select committee, said the industry’s spending undermined claims made by its lobbyists, in an occasionally tense evidence session with her committee, that tax rises could have devastating consequences for jobs and growth.

She said: “Unfortunately, the fact that we are told the existence of gambling firms is on a financial knife-edge while they simultaneously plough billions into advertising does not come as a surprise.

“During our session with the BGC, we were warned that any increase in gambling taxation could lead to 40,000 job losses.

“It’s important that the government does not cave into this industry scaremongering.”

Alex Ballinger, a Labour MP who has campaigned for tougher regulation and taxation of gambling companies, said the £2bn figure was an “astronomic sum”.

“Perhaps gambling firms should think about cutting back on adverts that nobody wants to see before pushing back against paying fair taxes on their vast profits particularly given the harms they cause,” he said.

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However, leading gambling industry analyst Alun Bowden, of Eilers & Krejcik Gaming, said that any reduction in advertising spend might have unintended consequences, helping illicit operators to gain more of a foothold in the UK market.

“Marketing spend is the main way to mitigate costs and would be the first thing to be cut [if taxes rise], but there is a reason for marketing spend in the first place,” he said.

“If you reduce advertising spend significantly then you give more parity to black market operators who are increasingly spending more on SEO [search engine optimistation], affiliates, streamers and social media.”

James McDonald, the director of intelligence at WARC, said: “The gambling sector has grown to become a significant force in the advertising market, spending more than industry stalwarts such as automotive and cosmetics in recent years.”

“While TV spend is a major focus, social media platforms are also core to the sector’s marketing strategy.”

Will Prochaska, the director of the Campaign to End Gambling Advertising, said: “One would think that if the sector is asked to pay a bit more tax in the upcoming budget that they could cut back on their ad-spend rather than lay off all their employees in betting shops, or further reduce what they payout to customers, but that’s a choice for them.”

A BGC spokesperson said: “These claims are misleading as the betting and gaming industry spend on advertising, excluding lotteries, is around £1bn, and has actually declined over recent years.

“Crucially, 20% of all broadcast and digital advertising is dedicated entirely to safer gambling messaging, a voluntary commitment made by the UK industry.

“Further tax rises would simply drive more consumers towards the growing black market that offers no age checks, no safer gambling tools and no tax contribution, while undermining advertising spend that differentiates the regulated market that supports over 11,000 jobs, contributes £506m to the UK economy, and provides £138m a year to British sport through sponsorship.”

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November 23, 2025
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