Caterpillar Inc is trading 3% up at $1015.75, continuing a strong multi-week rally that has pushed shares to fresh all-time highs.
- The move is driven by ongoing enthusiasm surrounding the company’s record backlog and its strategic positioning as a key supplier for AI data center infrastructure.
- Today, Caterpillar announced its involvement in Project Kilby, a significant collaboration with Chevron and Microsoft to establish a co-located power facility for a Microsoft-managed data center, further bolstering its role in AI infrastructure.
- Recent commentary regarding accelerated orders from large data center customers continues to support the stock's momentum, keeping shares well above most analyst price targets.