Ackman Bets Over $1.9B on Alphabet as Top AI Stock Pick for 2024
• Billionaire investor Bill Ackman's favorite AI stock is Alphabet (GOOG, GOOGL), which makes up over $1.9B of his fund's portfolio • Ackman started buying Alphabet stock in early 2023 when the price dropped due to disappointing AI product launches • Ackman believes Alphabet has competitive advantages and will be a dominant AI player long-term • Alphabet recently launched the powerful Gemini AI model that beat benchmarks and human experts in tests • The article argues Alphabet stock is a "no-brainer buy" for 2024 given its AI potential and expected ad business rebound