Pershing Square Models 15% to 25% Returns on AI Data Centers
Photo: TokenPost
Pershing Square argues that Wall Street’s estimates may understate the potential payoff from AI data-center spending at major technology companies, because forecasts capture infrastructure costs more clearly than possible revenue and earnings. CEO William A. Ackman and Chief Investment Officer Ryan Israel laid out the case in a Nov. 2 shareholder letter. Pershing Square said its analysis covered Microsoft, Meta, Amazon and Google and used consensus estimates dated Sept. 30, 2026. The firm estimated the four companies’ combined capital expenditures at about $140 billion in 2023 and about $740 billion in 2026, using company guidance.
Source: TokenPost
