Caterpillar was founded in 1925. But it is having a moment in the AI age. Shares of the company have climbed to record levels in recent weeks, pushing its market capitalization sharply higher—from $270 billion at the end of 2025 to about $347 billion as of Feb. 10. The stock, which has roughly doubled over the past 12 months to an all-time high of $742, has vastly outperformed such tech behemoths as Apple (up 20%) and Microsoft (up about 1%). And investors are betting that Caterpillar’s growing exposure to data centers, energy infrastructure, and AI-related demand hasn’t peaked yet. In fact, over the past 12 months, Caterpillar has ranked as the No. 1 best performer in the Dow. Rather than developing AI technology itself, Caterpillar supplies critical equipment needed to power and support AI-driven infrastructure. The company provides turbines for on-site primary power at data centers, generator sets for backup power, and integrated microgrid systems that can combine traditional energy sources with renewables and battery storage, Fortune’s Jordan Blum reported. Read more: https://fortune.com/2026/02/11/the-most-unexpected-winner-of-the-ai-boom-caterpillar/ submitted by /u/fortune
Originally posted by u/fortune on r/ArtificialInteligence
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