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Caterpillar Sees Record $72B Backlog as AI Data-Center Power Demand Grows

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Caterpillar said its order backlog reached a record $72 billion at the end of Q2 2026, up 92% year over year, with 59% expected to be delivered in the next 12 months. The company attributes the surge to AI data-center-related power demand and expects 2026 growth in reciprocating engines and Solar Turbines as build-outs continue.

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