Caterpillar Jumps After Raising Long-Term Outlook on AI Boom.

The article focuses on Caterpillar Inc.'s stronger-than-expected quarterly earnings and its raised long-term revenue outlook, driven by increased sales in construction and power generation equipment. The company now anticipates annual sales growth of 6% to 9% through 2030, up from a previous forecast of 5% to 7%, supported by a tripling backlog in power-generation equipment orders extending into 2028. Caterpillar benefits from rising demand linked to the expansion of data centers and artificial intelligence infrastructure, with its construction machinery sales also rising significantly. Despite these gains, the company faces increased manufacturing costs due to tariffs, expected to total $2.2 billion to $2.4 billion for the year. [Extracted from the article]