Caterpillar backlog tops $72B as capacity ramp targets power demand
Caterpillar posted strong second-quarter results as its backlog rose 92% year over year to more than $72 billion. Growth is tied to the AI boom and data centers, with Power & Energy customers ordering equipment through 2030. With capacity limiting shipments, Caterpillar plans to restart its 10-megawatt gas engine platform, adding 1.5 gigawatts of capacity and beginning shipments before year-end.