Manuel Balce Ceneta/AP
- Billionaire Bill Ackman's hedge fund boosted its stake in Alphabet last quarter amid the continuing AI hype.
- Pershing Square scooped up about 1.3 million of Alphabet Class C shares, upping its position in such stock to $1.1 billion.
- Meanwhile, the hedge fund dumped shares in Chipotle and home improvement company Lowe's.
Billionaire investor Bill Ackman's hedge fund snapped up more shares in Google's parent company Alphabet during the second quarter as the company ramps up its exposure to artificial intelligence technologies.