Caterpillar shares jumped 6.61% to $595.53 on Monday, November 9, after reports that Anthropic agreed to spend $3.4 billion on 1.7 gigawatts of gas-fired generators for its data centres. The equipment comes from Caterpillar orders that San Antonio-based OnePWR Solutions placed about two years ago but needed financing to complete. Anthropic took over the orders rather than buying OnePWR, the Financial Times reported. Caterpillar's third-quarter sales rose 17% to $20.7 billion. Power Generation sales climbed 30% to $3.4 billion, driven mainly by data centre demand. The deal funds existing orders rather than adding new ones.

Anthropic on Monday released two new AI models, Claude Fable 5.2 and Claude Mythos 5.2, as it prepares for an IPO that could come as soon as next week. They are its first frontier models since chief executive officer Dario Amodei called in September for a slower pace of AI development. The company said the models generate outputs 30% faster than their predecessors and cost 20% less than the 5.1 generation. Pricing is $8 per million input tokens and $40 per million output tokens. Fable 5.2 is generally available. Mythos 5.2 is open only to vetted organisations through its Life Sciences and Cyber Verification Programs. Anthropic is reportedly targeting a valuation of $1 trillion to $1.5 trillion, down from an earlier $2 trillion target. It reported $33.24 billion in revenue for the nine months ended September 30, up roughly 1,200% year on year.

No single definition of artificial general intelligence (AGI) exists, yet the biggest tech companies are all racing toward it in their own ways. For investors, the fuzzy goal matters as much as the race. OpenAI says its mission is AI that is generally smarter than humans. Anthropic prefers "Powerful AI" and filed an S-1 with the SEC on October 26 ahead of a proposed Nasdaq listing. Google DeepMind treats AGI as a waypoint on the way to superintelligence. Microsoft's April 2026 amendment with OpenAI dropped the terms for post-AGI access, and it is building its own models. Meta plans $125 billion to $145 billion in capital expenditure in 2026 for "personal superintelligence." Chipmakers, data centre operators, cloud providers, and power suppliers could also gain from rising demand for AI computing.