Bill Ackman pushes back on Big Tech's AI spending fearsAckman's fund Pershing Square put 37.4% of its money into Big Tec…
Bill Ackman pushes back on Big Tech's AI spending fears
Ackman's fund Pershing Square put 37.4% of its money into Big Tech, betting on growth as capex went from $140 billion to $740 billion in 3 yearsHe claims:• The spending is offensive growth, not defensive• A capex cut would boost free cash flow too• Pershing Square holds $Microsoft(MSFT.US), $Meta Platforms(META.US) and $Amazon(AMZN.US)• Hyperscaler revenue could run 15% to 35% above Wall Street's estimates by 2029Ackman's exact words: "[Wall Street is] ascribing limited potential to the significant future growth in revenue and earnings"
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