Posted 4/11/2024, 9:27:00 AM
Ackman's $1.9B Bet on Alphabet Over Nvidia for AI Pays Off as Google Unveils Powerful Gemini Model
- Bill Ackman owns a $1.9B position in Alphabet (Google's parent company) instead of more popular AI stock Nvidia
- Ackman bought when Microsoft announced investment in OpenAI, hurting Alphabet stock
- Alphabet later launched AI models Gemini 1.5 that outperforms OpenAI's GPT-4
- Ackman sits on 60% gains but stock remains cheap trading at 26.7 forward P/E
- Alphabet weaving Gemini into products like Google Cloud, Docs, Gmail for growth