Caterpillar raises sales outlook as AI data center construction fuels demand

Caterpillar lifted its full-year sales forecast after reporting record quarterly revenue of $20.54 billion, a 24% increase driven by strong demand for its construction equipment and power generators. The company cited the AI boom as a key driver, with data-center build-outs spurring sales in its power-and-energy division by 17% to $8.24 billion. Shares climbed 5.6% on the news.