Uber’s stock extends its surge as hedge funder Ackman says he’s amassed a 30.3-million-share stake since early January.

Uber Technologies' stock rose to a three month high, as Bill Ackman acquired a $2.3 billion interest in the company, Reuters reported. The billionaire hedge fund manager took to X to say that he had begun purchasing a stake in the ride sharing platform in early January. He now owns 30.3 million shares in the company, the newswire noted.

Shares of the ride-sharing giant Uber Technologies (NYSE: UBER) rose nearly 9%, as of 12:38 p.m. ET today, after billionaire investor Bill Ackman revealed that his fund Pershing Square Capital Management had launched a new stake in the company that is now valued at over $2 billion.