Bill Ackman Holds Over $2 Billion in Amazon Shares Backed by AI and Cloud Growth

Billionaire investor Bill Ackman's investment firm, Pershing Square, holds more than 8.56 million Amazon shares valued at over $2 billion as of June, representing about 10.5% of the firm's portfolio. Despite a slight recent reduction in holdings amid portfolio restructuring, Ackman remains confident in Amazon's future prospects.

Ackman explained in a recent shareholder letter that while many investors worry about high spending on artificial intelligence infrastructure, he views it as a major growth opportunity. Amazon plans to increase its expenditures to approximately $220 billion this year, up from $132 billion in 2025, primarily to build new data centers supporting its cloud division, AWS. This segment benefits directly from widespread AI adoption, with revenue growth expected to accelerate from around 20% in 2024-2025 to over 30% in 2026.

In addition to cloud success, Amazon's traditional retail business also shows strength, with a 15% increase in units sold in Q1 2026, the highest growth rate since 2021. Ackman and his team project Amazon can grow its overall profits by at least 20% annually, a challenging target for a company of its size, but one supported by the early stages of AI-driven expansion and Amazon's strong market position.

Ackman's bullish stance on Amazon is rooted in the company's massive investments in AI and cloud infrastructure, positioning it for sustained growth in the coming years.