Caterpillar Emerges as Unlikely AI Winner Amid Turbine Demand

Thursday, Oct 2, 2025 7:19 am ET1min read
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Caterpillar shares surged 14% in September, the best month since December 2023, driven by investors betting on AI's insatiable demand for electricity. The company's turbines business is expected to benefit from the AI boom, as well as its equipment used in mining copper for data centers and construction equipment for building data centers. The stock's year-to-date gain is 32%, far outstripping the Nasdaq 100 Index and the cohort of the seven top US tech giants.

Caterpillar Emerges as Unlikely AI Winner Amid Turbine Demand

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