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Caterpillar was always an unlikely winner in the AI craze. It makes the bulk of its money selling the equipment like yellow earth movers that has made it a stalwart of American industry.

Caterpillar laid out new growth targets to boost revenue and double capital spending in a bid to capitalize on rising demand for energy to power data centers. 

Cummins' and Caterpillar's revenue will nearly double in the next three years from selling backup generators to help power U.S. data centers, according to UBS.

Caterpillar sells equipment used to mine the copper that’s needed for data centers, while Caterpillar’s construction equipment is needed to put up the buildings.

The main reason the company revised its outlook is the section 232 tariffs on steel and aluminum, an analyst says.

Caterpillar — seen as a bellwether of the health of the global economy — saw total sales slip in both construction and resource industries.

Caterpillar expects slightly lower sales this year if Trump administration tariffs remain in place and the economy dips into a recession in the second half.

Caterpillar Inc. said Joe Creed, a 28-year veteran of the U.S. machinery manufacturer, will be its next CEO.

Caterpillar Inc. warned that revenue will be “slightly lower” in 2025 as demand concerns weigh on the outlook of the heavy equipment maker.

Caterpillar Inc. posted a third-quarter profit that missed analysts’ expectations as the machinery producer grappled with weakening demand in construction around the world.