Billionaire Bill Ackman Just Joined Warren Buffett and Cathie Wood by Adding This Monster Artificial Intelligence (AI) Stock to His Portfolio
Ackman's Pershing Square Capital Management just plowed more money into another "Magnificent Seven" stock.
Bill Ackman is a billionaire hedge fund manager as CEO of Pershing Square Capital Management. Unlike many of his peers on Wall Street, Ackman primarily keeps a tightly concentrated portfolio, with Pershing Square owning only about 10 stocks at any given time.
For the last couple of years, Pershing Square's most direct artificial intelligence (AI) investment has been a sizable position in Alphabet. Ackman has made it clear that its diversified ecosystem -- spanning internet search, cloud computing, advertising, cybersecurity, and more -- combined with an attractive valuation is what enticed Pershing Square to take a position in the "Magnificent Seven" member.
Well, just a few weeks ago, news broke that Pershing Square had recently initiated a position in another AI stock, Amazon (NASDAQ: AMZN). Ackman now joins Warren Buffett, whom he is known to admire, and Cathie Wood as prominent personalities on Wall Street who have exposure to Amazon, through their respective portfolios at Berkshire Hathaway and ARK Invest.
