Caterpillar’s retail sales of power-generation equipment rose 72%, as demand grows for equipment used in AI data centers. CEO Joseph Creed cited very strong demand for large generator sets and turbines used in data center applications. That makes the heavy-equipment manufacturer a key supplier to power-intensive data centers being built around the world.
U.S. data-center electricity consumption is projected to more than double by 2030. Demand is reshaping Caterpillar’s sales and backlog, broadening the company’s investment appeal beyond its traditional construction and mining equipment businesses. For investors, Caterpillar offers an alternative way to gain exposure to AI infrastructure, alongside chipmakers and other technology companies.