Mentioned:
Bill Ackman is well known for his high conviction bets. And now he’s backing one of the giants of ride sharing.
What’s happening:
- Legendary Wall Street hedge fund manager Bill Ackman has disclosed a large position in Uber (NASDAQ: UBER) through new filings with the United States Securities and Exchange Commission
By the numbers:
- Bill Ackman’s hedge fund Pershing Square owns a total of 30.3M shares of Uber
- Pershing Square is now the 12th largest shareholder of Uber
Why it matters:
- Bill Ackman is widely considered one of the most important hedge fund managers in America, with a highly successful history as an investor as well as being an exceptionally outspoken activist shareholder in numerous publicly listed companies that Pershing Square has had a meaningful ownership position in
Going deeper:
- Uber has been aggressively embracing artificial intelligence technology for autonomous vehicles as part of their plans for the future, which previously notably led to a new collaboration with Nvidia (NASDAQ: NVDA) to develop entirely new artificial intelligence models for self driving vehicles
