Ackman Buys Microsoft (MSFT), Challenges TCI’s AI Risk Call

Bill Ackman said on May 15, 2026, that Pershing Square Capital bought Microsoft Corp. (MSFT) in the first quarter of 2026 and that Pershing Square USA plans to make the stock a core holding, arguing investor concerns over artificial intelligence disruption are overstated. Ackman said Pershing bought after Microsoft fell following its February 2026 earnings report, with the stock down more than 26% from its July 2025 record high. He said Microsoft 365 remains deeply embedded in enterprise workflows and that Copilot integration could support faster adoption and new AI-agent-based billing models. He also said concerns over Azure are misplaced, citing Microsoft’s planned $190 billion in capital spending and a shift toward an open multi-model AI architecture. The comments contrast with TCI founder Christopher Hohn, who reportedly sold almost all of an $8 billion Microsoft stake in the week ended May 8, 2026, citing AI risks to Office and Azure. TCI cut Microsoft to 1% of its portfolio in the first quarter from 10%.