Bill Ackman, founder and CEO of Pershing Square Capital Management, attends the Milken Conference 2025 in Beverly Hills, California, U.S., May 6, 2025.
Mike Blake | Reuters
Bill Ackman’s Pershing Square revealed a stake in Meta on Wednesday.
“We believe Meta’s current share price underappreciates the company’s long-term upside potential
from AI and represents a deeply discounted valuation for one of the world’s greatest businesses,” stated the fund’s annual investor presentation.
Meta shares are off by 16% over the last 12 months on fears it is spending too much on artificial intelligence.
“We believe concerns around ETA’s AI-related spending initiatives are underestimating the company’s long-term upside potential from AI,” stated the Pershing presentation.
The position amounts to 10% of Pershing’s capital as of the end of 2025.
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