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Bill Ackman makes $2B gamble on Mark Zuckerberg's AI pivot with massive Meta stock purchase

On HALO

5 days ago

Billionaire investor and hedge fund manager Bill Ackman is making a big gamble on the future of Mark Zuckerberg and his Meta platforms.Ackman has allegedly committed an estimated $2 billion to Meta, representing a sizable 10% of Pershing Square’s total portfolio, The Wall Street Journal reported. The move is a public backing of Zuckerberg’s pivot from the "Metaverse" to superintelligence, with Meta as the beneficiary of AI integration.Pershing Square started buying Meta last November at an average price of $625 per share. Today, Meta stock trades near $670, netting Ackman an early gain.MARK ZU...