CNBC will be talking with billionaire investor Bill Ackman shortly. Watch the interview here.
Ackman has made Meta Platforms a core part of Pershing Square's portfolio. The firm first established a position in the stock in late 2025 with the stake amounting to 10% of Pershing's capital as of the end of last year.
He increased his position to a sizable stake in February. At the time, Ackman cited Meta's "long-term upside potential from AI represents a deeply discounted valuation for one of the world's greatest businesses," during an investor presentation.
The firm also believes Meta's investments in compute infrastructure are necessary and could eventually generate attractive returns.
Pershing square noted that Meta is well-positioned for long-term earnings growth given its "significant upside potential from AI supports front-loading infrastructure and talent investments."
His comments on the Facebook and Instagram parent comes as it reported better-than-expected revenue in its third-quarter earnings report on Wednesday, while issuing strong guidance for the current period. The shares were lower however because of concerns over AI spending.
