Key Points
Pershing Square (NYSE: PS), led by investor Bill Ackman, holds nearly 8.6 million shares of Amazon (NASDAQ: AMZN), valued at over $2 billion, constituting 10.5% of its portfolio, as of June’s end. Despite a recent decrease in stake, Pershing remains a significant investor in the company.
Ackman cited Amazon’s projected increase in capital expenditures, expected to reach about $220 billion this year, primarily for data center development to support its cloud business, Amazon Web Services (AWS). AWS revenue growth has accelerated to over 30% in 2026, aided by the adoption of artificial intelligence.
Additionally, Amazon’s retail segment recorded a 15% unit volume growth in the first quarter, marking the highest increase since 2021. Ackman forecasts Amazon could potentially compound total earnings at a rate of at least 20% annually.
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