Caterpillar Inc. (CAT)[Tv]

Key Developments

• Caterpillar secures a landmark 20-year natural gas power agreement for Microsoft’s AI data center in West Texas (Project Kilby)—a 2.7-gigawatt deal that positions CAT’s Solar Turbines as a central enabler of the AI infrastructure boom, embedding the company in the physical backbone of the digital economy.
• Caterpillar acquires Skycatch, completing a strategic expansion into digital mining technology by integrating drone-based spatial data and AI-driven analytics into its MineStar platform—marking a pivotal pivot toward becoming a full-stack industrial-tech provider.
• Michael Burry, a high-conviction contrarian investor, opens a first-time short position in CAT at $1,060.98, triggering a 6% intraday plunge and making CAT the largest Dow decliner—signaling a major shift in market sentiment amid concerns over valuation and growth sustainability.
• Caterpillar reports a record $62.7 billion backlog and a 38% YoY surge in Construction Industries revenue, driven by AI-driven infrastructure demand, with the segment now accounting for 41% of total company revenue and confirming a structural shift from cyclical industrial supplier to long-term infrastructure enabler.
• Caterpillar launches its first in-motion charging trial on the Cat 793 XE Early Learner, achieving a global benchmark in green mining and demonstrating leadership in electrified heavy machinery—validating its technological innovation and future-proofing its market position.