"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,"
"We believe concerns around META's AI-related spending initiatives are underestimating the company's long-term upside potential from AI,"
"Meta's business model is one of the clearest beneficiaries of AI integration,"
Pershing Square allocated roughly 10% of its capital, about $2 billion, to Meta as of the end of December. The firm views Meta as a leading beneficiary of AI integration and considers current share prices to underappreciate long-term AI-driven upside. Meta has roughly 3.5 billion users and is positioned as a dominant digital advertising leader. Meta plans large capital expenditures, including a forecasted $135 billion in spending on data centers, which Pershing Square expects to pay off over the long term. Pershing Square also held significant positions in Amazon (13%) and a smaller position in Hertz.
Read at Business Insider
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