Bill Ackman doesn't make small bets across dozens of stocks but instead focuses on a small number of players that have what it takes to soar over time. As of the end of 2023, his $10 billion portfolio at Pershing Square Capital Management included just seven positions. That's how the billionaire founder and chief executive officer of this hedge fund has delivered long-term winnings for investors, outpacing the S 500 over the past five years.

Ackman is applying this same strategy to the high-growth area of artificial intelligence (AI), making one big bet on a potential winner. In fact, this stock is one of his newest positions, with Ackman adding the shares just last year. And it's a considerable bet, making up nearly 20% of the billionaire's entire portfolio.

Which AI stock is Ackman going all in on? A player many of us know well thanks to its Google Search platform, one that holds more than 90% of the global market. I'm talking about (NASDAQ: GOOG) (NASDAQ: GOOGL), a company with an "unmatched business model," according to Ackman. Let's take a closer look at why Ackman likes this growth stock and if it's an AI stock to buy now...

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Source Fool.com