Posted 4/11/2024, 9:27:00 AM
Ackman's Bet on Alphabet Over AI Leader Nvidia Pays Off as Gemini Launches
- Billionaire Bill Ackman owns $1.9 billion worth of Alphabet stock instead of more popular AI stock Nvidia
- Ackman bought when Microsoft announced investment into OpenAI, hurting Alphabet stock
- Ackman felt Alphabet's AI tech was on par with OpenAI when he invested
- Alphabet has since launched Gemini AI models that outperform OpenAI's GPT-4
- Ackman is sitting on 60% gains but stock remains cheap compared to other tech giants