Bill Ackman's Hedge Fund Boosts Alphabet Stake Amid AI Hype
Bill Ackman's Hedge Fund Boo...
Subscribe to Newsletter

Bill Ackman's Hedge Fund Boosts Alphabet Stake Amid AI Hype

15 August 2023
2 min.
Bill Ackman's Hedge Fund Boosts Alphabet Stake Amid AI Hype

Ackman's Billion-Dollar Bet

Billionaire investor Bill Ackman's hedge fund, Pershing Square Capital Management, strategically increased holdings in Google's parent company, Alphabet, during Q2, capitalizing on the company's push into AI technologies.

Strategic Share Acquisition

Pershing Square executed a shrewd move by acquiring approximately 1.3 million shares of Alphabet's Class C shares. This strategic acquisition significantly elevated the overall value of Pershing Square's stake in Alphabet, reaching a notable $1.1 billion. This development was unveiled through a comprehensive second-quarter portfolio update released on a Monday.

Diverse Portfolio

While Pershing Square bolstered its position in Alphabet's Class C shares, its holdings in Alphabet's Class A shares remained consistent, maintaining a valuation of approximately $261 million.

AI Ignites Interest

Ackman's decision to increase his stake in Alphabet coincided with a surge of enthusiasm among investors surrounding artificial intelligence (AI). This newfound excitement stemmed from the recent introduction of OpenAI's ChatGPT, which garnered considerable attention across the investment landscape.

Alphabet's Financial Leap

Alphabet experienced an impressive leap in its market valuation, soaring by a remarkable $111 billion following an exceptionally robust second-quarter earnings report.

This report, which outperformed the projections of even the most optimistic analysts, translated into a notable 7% growth in revenue, culminating at an impressive $74.6 billion. This growth was primarily attributed to Alphabet's focused and intensified efforts in the realm of AI.

CEO's AI Vision

CEO Sundar Pichai affirmed Alphabet's AI commitment, seamlessly integrating AI into products like the search engine and enhancing chatbot Bard.

Share Performance Soars

Alphabet's Class A shares soared by 46% year-to-date.

Pershing Square's Strategy

Pershing Square strategically divested a large Lowe's stake, reducing holdings by 25% to $1.6 billion. Reductions in other consumer brands followed.

Persons2 and Companies5 in the news

Chief Executive Officer of Pershing Square Tontine Holdings
1 place
CEO of Google (Alphabet Inc)
2 place
1 place
2 place
3 place
Source foto:


News from is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York. news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year