00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bill Ackman's $5 billion Pershing Square IPO struggled on its first day,
00:08and he is already deploying the funds into an AI-focused trade, led by, according to Benzinga.
00:14Ackman said retail investors received full allocations and sold shares they could not
00:20afford to settle. Ackman bought 500,000 PSUS shares and 800,000 Pershing Square Inc. shares
00:28the next day. The fund is about 35% deployed, putting nearly $1.75 billion into an AI-focused
00:35portfolio, including Meta, Alphabet, Uber, and Amazon. Ackman said Meta's customers are seeing
00:42higher ad returns from AI and called Mark Zuckerberg an effective capital allocator. He said companies
00:48must adopt AI to remain competitive, as the fund holds positions in Alphabet, Uber, and Amazon.
00:53For all things money, visit Benzinga.com.
