Ackman Concentrates AI Bet with Heavy Stakes in Meta and Uber

Bill Ackman's Pershing Square Capital Management has revealed a significant concentration in the artificial intelligence sector, with 27% of its assets under management split between Meta Platforms and Uber Technologies as of December. The positions, comprising 11% in Meta and 16% in Uber, signal a high-conviction bet on the practical monetization of AI across social media and urban mobility. Meta is currently utilizing its new Muse Spark multimodal reasoning model to optimize user engagement and ad targeting. The company has already seen tangible results, with ad impressions climbing 12% and average ad prices increasing 9% last year. Wall Street analysts project Meta's earnings will grow by 21% annually over the next three years, suggesting the stock is undervalued at 29 times earnings with a PEG ratio of 1.3. Simultaneously, Uber is positioning itself as the critical infrastructure layer for the robotaxi economy. Through a strategic partnership with Nvidia, Uber intends to deploy 100,000 autonomous vehicles by 2027. The rollout is scheduled to begin in Los Angeles and San Francisco in early 2027, eventually expanding to 28 cities across North America, Europe, Australia, and Asia by 2028. Beyond Nvidia, Uber is diversifying its autonomous vehicle (AV) ecosystem by integrating Waymo and Avride in North America, and WeRide in the Middle East. Despite a 25% decline from its previous peak due to investor concerns over AV competition, the firm views Uber as the essential facilitator for original equipment manufacturers to scale autonomous ridesharing globally.