Bill Ackman’s Hedge Fund Boosts Alphabet Stake As AI Boom … – Markets Insider
- Billionaire Bill Ackman’s hedge fund boosted its stake in Alphabet last quarter amid the continuing AI hype.
- Pershing Square scooped up about 1.3 million of Alphabet Class C shares, upping its position in such stock to $1.1 billion.
- Meanwhile, the hedge fund dumped shares in Chipotle and home improvement company Lowe’s.
Billionaire investor Bill Ackman’s hedge fund snapped up more shares in Google’s parent company Alphabet during the second quarter as the company ramps up its exposure to artificial intelligence technologies.
Pershing Square Capital Management scooped up about 1.3 million shares of Alphabet’s Class C shares, boosting the company’s total shares in that position to $1.1 billion, according to a second-quarter portfolio update released on Monday.
The hedge fund’s holdings in Alphabet’s Class A shares were unchanged at about $261 million.
Pershing Square’s bigger bet on Alphabet comes as the internet behemoth rides a wave of investor excitement over AI, sparked by…
The post Bill Ackman’s Hedge Fund Boosts Alphabet Stake As AI Boom … – Markets Insider first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/08/15/bill-ackmans-hedge-fund-boosts-alphabet-stake-as-ai-boom-markets-insider_2023081548951.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.