Prediction: This Unstoppable "Magnificent Seven" Member Will Be Wall Street's First $5 Trillion Stock, and Billionaire Bill Ackman Just Bought the Dip
Billionaire hedge fund manager Bill Ackman recently revealed that his firm is building a stake in Amazon stock.
While there isn't an official start date marking the artificial intelligence (AI) revolution, I personally like to use Nov. 30, 2022, as my timestamp. This is the day that OpenAI released ChatGPT to the public, virtually changing how businesses and consumers access information at the flip of a switch.
Back then, Amazon (NASDAQ: AMZN) sported a market capitalization of $835 billion. Today, the company's value is almost triple -- hovering at around $2.3 trillion.
While Amazon may not fetch as much attention as its "Magnificent Seven" peers Nvidia or Tesla, the company is quietly building a thriving AI ecosystem -- and Wall Street is finally starting to take notice. Last month, investors learned that billionaire hedge fund manager Bill Ackman initiated a stake in Amazon through his investment firm, Pershing Square Capital Management.
