Bill Ackman prend une participation dans Microsoft et dit que son jeu d’IA est sous-évalué.

Bill Ackman’s hedge fund, Pershing Square, has taken a new position in Microsoft, citing a valuation the billionaire investor describes as highly compelling. The investment is part of a broader strategy by Pershing Square to target technology companies with attractive valuations and the potential for dominant long-term growth.

According to a Reuters report published May 15, 2026, Pershing Square began building its position in Microsoft in February 2026. This accumulation followed a period of stock volatility for the technology company, with shares declining approximately 15% during 2026.

Ackman identified two specific business segments as the primary drivers of the company’s value: the Azure cloud division and the M365 Office productivity suite. The productivity suite includes the Copilot AI assistant, which carries a monthly subscription cost of $30. Ackman noted that these businesses place Microsoft at the center of the increasing adoption of AI by enterprise customers.

The investment follows a series of market concerns that contributed to the decline in Microsoft’s share price. Quarterly results had previously indicated a surge in spending and slower growth in cloud revenue, leading to investor skepticism regarding the company’s trajectory.

Additional pressure has come from the competitive landscape, as rivals Google and Amazon have made significant progress in their respective AI initiatives. Investors have also voiced concerns over the pace of Copilot adoption and specific changes to Microsoft’s partnership with OpenAI.

A key point of contention has been the restructuring of the OpenAI partnership, which removed Microsoft’s exclusive rights to resell the startup’s technology on its cloud platform. While some market analysts viewed this as a setback, Ackman argued that the concerns were overblown.

Ackman characterized the shift in the OpenAI relationship not as a concession, but as a deliberate pivot toward a more open, multi-model architecture that better serves enterprise customers.

the investor expressed support for Microsoft’s financial commitments to infrastructure and development. He backed the company’s $190 billion spending plan for 2026, stating that this level of investment is essential to fuel future revenue growth.

The new stake in Microsoft was scheduled to be disclosed in a regulatory filing on May 15, 2026.