Bill Ackman's hedge fund reveals big stake in Meta — 'one of the clearest beneficiaries of AI integration'

Michael Ostuni/Patrick McMullan via Getty Images 2026-02-11T19:58:02.532Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt.

Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. 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's investment thesis for its stake in Meta.

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.