Caterpillar Stock Pulls Back Amid AI Demand Fears

Caterpillar Inc.'s stock has pulled back by 4.1 percent to $784.00 on the NYSE, down roughly 26 percent from its 52-week high of $1,073.46.

The decline comes as investors reassess the durability of artificial-intelligence-driven data center spending, a trend that had been fueling expectations for future expansion.

Caterpillar's order backlog stands at nearly $72 billion, up 92 percent from last year and nearing its annual revenue of $74.7 billion over the past twelve months.