Bill Ackman's Pershing Square revealed a stake in Meta on Wednesday. "We believe Meta's current share price underappreciates the company's long-term upside potential from AI and represents a deeply discounted valuation for one of the world's greatest businesses," stated the fund's annual investor presentation. Meta shares are off by 16% over the last 12 months on fears it is spending too much on artificial intelligence. "We believe concerns around ETA's AI-related spending initiatives are