Caterpillar Stock Rides Data Center Boom

Caterpillar shares rose 165% over the past year and 55% year-to-date, driven by AI data center demand for power generation equipment. ProPetro agreed to buy Caterpillar power assets capable of generating up to 2.1 billion gigawatts over five years. The stock trades at a forward P/E of 31.35, above the machinery sector average of 24.06.