Caterpillar Falls Amid AI Slowdown Concerns

Caterpillar's stock price fell by 4% to $783.15 on Monday as the company's shares led industrial names lower.

This decline comes after a weekend in which two AI executives, Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman, published essays calling for a slowdown in AI model capabilities.

The potential impact of this shift on Caterpillar's business is significant, as the company's power generation segment supplies large reciprocating engines and turbines into data center construction, which saw 72% growth in Q2 2026.

Caterpillar CEO Joe Creed said on the August earnings call that 'we haven't seen any customers back off of demand,' but investors are now questioning whether this demand will continue at its current pace.