Caterpillar Stock Drops 4.1% Amid AI Spending Concerns

Caterpillar Inc., a US-based heavy equipment manufacturer, saw its stock price drop by 4.1% on September 14, 2026, closing at $784.00 on the NYSE.

The decline came as investors reassessed the pace of artificial intelligence (AI) driven data center buildouts and related equipment demand, following a piece questioning whether AI spending might slow down and cool expectations for data center expansion.

Caterpillar's recent close is below its narrative fair value estimate near $970 per share, highlighted by Simply Wall St. The current pullback is seen as a gap to that valuation rather than a broken story.