Posted 12/31/2023, 10:52:00 AM
Ackman Bets Over $1.9 Billion on Alphabet to Dominate AI Race
- Ackman's favorite AI stock is Alphabet (GOOG, GOOL), which makes up over $1.9B of his fund's holdings
- He started buying Alphabet stock in early 2023 when the price was low due to AI competition fears
- Ackman believes Alphabet has many competitive advantages and will dominate AI long-term
- Alphabet recently launched the powerful Gemini AI model that beat other models in benchmarks
- The article argues Alphabet stock remains a "no-brainer buy" for 2024 due to AI leadership and an improving ad market