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Caterpillar’s AI data-center generator sales surge 72%

8/31/2026

41 8 Full Breakdown

Summary

Story summary

Caterpillar outpaces Chevron in providing generators for AI data centers.
Caterpillar’s power-generation unit posted $3.10 billion sales, a 72% increase in Q2 2026.
Its order backlog hit a record $72 billion, up 92% YoY, while quarterly revenue reached $20.5 billion.
Chevron signed a 20-year natural-gas power plant deal with Microsoft for a data center.

History

Historical Context

Microsoft’s 2015 $1.2 billion power-purchase agreement with SunPower—whose 2005 IPO and 2002 Cypress backing had propelled it into the solar market—sparked similar contracts from Amazon, Google, Apple and IBM, together pledging more than 3 GW of clean energy by 2020. The shift now drives data-center operators like Caterpillar and Chevron to secure dedicated energy supplies.

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Story summary

Caterpillar outpaces Chevron in providing generators for AI data centers.
Caterpillar’s power-generation unit posted $3.10 billion sales, a 72% increase in Q2 2026.
Its order backlog hit a record $72 billion, up 92% YoY, while quarterly revenue reached $20.5 billion.
Chevron signed a 20-year natural-gas power plant deal with Microsoft for a data center.

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