Ackman's Pershing Square takes stake in Microsoft, citing 'compelling' valuation

Bill Ackman's hedge fund Pershing Square is taking a new stake in Microsoft, which Ackman describes as having a "highly compelling valuation." The investment will be disclosed later in the day, and Microsoft has become a core holding in Pershing Square USA, Ackman's newly launched closed-end fund that debuted on the NYSE last month. This move reflects Ackman's increasing interest in tech stocks, following recent investments in Meta and other technology companies, though Microsoft's shares have declined over 15% this year amid investor concerns about competition in the artificial intelligence space from companies like Google and Amazon.