Billionaire hedge fund manager Bill Ackman has dumped his entire stake in Alphabet to bankroll a £1.58 billion ($2.09 billion) bet on Microsoft, calling the software giant's current price tag one of the most attractive entry points in a decade.
Ackman disclosed the move in a post on X on 15 May ahead of Pershing Square's quarterly 13F filing with the US Securities and Exchange Commission. His firm began accumulating Microsoft shares in February after the company's fiscal second-quarter results spooked Wall Street with slower cloud computing growth and a sharp ramp-up in capital spending.
