Bill Ackman backs Mark Zuckerberg’s Meta with $2B investment in AI future

Source: New York Post

Billionaire activist investor Bill Ackman has poured about $2 billion into Meta, making a major bet that Mark Zuckerberg’s tech giant will outpace rivals in the artificial intelligence arms race. The investment represents about 10% of Pershing Square’s portfolio — a sizable allocation for Ackman’s concentrated hedge fund, though the investment is only a small fraction of Meta’s overall market value. News of Pershing Square’s investment in Meta was reported on Wednesday by The Wall Street Journal.