Key Points Caterpillar addresses two key AI bottlenecks: power and construction. The recent dip has resulted in a more attractive valuation. Caterpillar has a $72 billion backlog -- almost double from a year ago. 10 stocks we like better than Caterpillar › Caterpillar (NYSE: CAT) has been outperforming the S&P 500 by riding artificial intellgience (AI) tailwinds, and a recent correction doesn't change that fact. While talks about a slowdown in AI development gripped headlines, they were largely for naught, with Meta Platforms CEO Mark Zuckerberg saying that market forces and competition are enough to keep AI models safe. Hyperscalers are ramping up their AI development, and Caterpillar is at the center of it, since power is a critical bottleneck.
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