capital · May 18, 2026
Bill Ackman Discloses Pershing Square Stake in Microsoft Citing Azure and AI Growth
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Bill Ackman disclosed on May 15, 2026 that Pershing Square Capital built a stake in Microsoft and highlighted the company's Azure cloud business and Microsoft 365 franchise. Ackman noted investors underestimate Azure resilience despite a $190 billion calendar year 2026 capex budget and recent stock decline of more than 15 percent year-to-date. The investment thesis focuses on enterprise software embedding and multi-model AI architecture after OpenAI partnership restructuring. Microsoft reported Azure growth of 40 percent in its most recent quarter.
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