Caterpillar Backlog Signals AI Boom Continues Unabated

Caterpillar's record backlog is sending a strong signal that the AI boom is far from over. The company's backlog of orders remains near all-time highs, standing at $28.7 billion as of its latest quarterly report.

This sustained demand suggests that the AI-driven buildout of data centers, energy infrastructure, and related supply chains is still in full swing. As a leading supplier of backup generators, turbines, and mining equipment, Caterpillar is directly benefiting from this trend.

The company's Energy & Transportation segment saw a 12% year-over-year increase in sales in the most recent quarter, driven by demand for natural gas generators used in data centers.