Caterpillar Is Quietly Becoming an AI Stock. Here's the Segment Growing 72% That Proves It.

Caterpillar's power generation equipment segment is experiencing explosive growth driven by AI data center demand, with retail sales climbing 72% in Q2. The company's backlog has expanded 92% to a record $72 billion, with customers placing orders through 2030. As data centers consume increasing amounts of electricity (projected to double by 2030), Caterpillar positions itself as an indirect AI beneficiary through its power and energy solutions.