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- Bill Ackman’s Pershing Square has invested roughly 10% of its capital in Meta.
- The fund told investors Meta is set to be “one of the clearest beneficiaries of AI integration.”
- Meta has been plowing cash into data center projects, which Ackman’s firm expect to pay off long-term.
Bill Ackman is betting big on Meta — saying it believes it to be “one of the clearest beneficiaries of AI integration.”
The billionaire investor’s Pershing Square hedge fund revealed Wednesday that it has invested around 10% of its capital in Meta, or approximately $2 billion, as of the end of December.
“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,” the presentation said.
At around $668 per share on Wednesday afternoon, Meta’s stock price is roughly flat in 2026 so far, and down approximately 7% from one year ago.
Pershing Square also revealed it had allocated 13% of its fund to Amazon as of the end of 2025, and a 2% position in Hertz in late 2024.
Wall Street has been less than enthusiastic about some of Big Tech’s planned capital expenditure plans, but Meta’s budget-busting $135 billion forecasted spend was rewarded last month with a short-lived 8% bump the share price.
Either way, Ackman’s team says they’re very much on board with the strategy.
“We believe concerns around META’s AI-related spending initiatives are underestimating the company’s long-term upside potential from AI,” the presentation said.
Pershing Square
The presentation also said Meta’s 3.5 billion users are increasing at a steady clip, setting the company up as the “dominant” leader in digital ads.
“Meta’s business model is one of the clearest beneficiaries of AI integration,” the presentation said.