Should you Buy Caterpillar (CAT) amidst the data center build out? Published on june 8, 2026 at 6:55 am by ramish cheema in news. Agricultural, construction, and power generation equipment manufacturer Caterpillar Inc. (NYSE:CAT)'s shares are up by 165% over the past year and by 55% year-to-date. The artificial intelligence boom has also proven to be a boon for the firm's power generation products. For instance, ProPetro Holding Corp announced an agreement with Caterpillar Inc. (NYSE:CAT) to purchase power generation assets capable of generating up to 2.1 billion gigawatts of power over the next five years. Caterpillar Inc. (NYSE:CAT)'s forward P/E ratio of 31.35 is higher than the machinery sector's average of 24.06. Evercore ISI discussed the firm on May 11th as it raised the share price target to $1,103 from $878 and reiterated a Buy rating on the shares. CNBC's Jim Cramer discussed Caterpillar Inc. (NYSE:CAT) and its multiple in his May 15th appearance on Mad Money: "So let's go to our game plan for next week... Monday's Caterpillar, this division, okay, it's integral to data center construction, and it's hosting a headquarters visit for investors right now. CAT trades at 36 times earnings. It's like a tech stock. Oh, you know, I like CAT, but this has become overheated. If this division, well, this division has everybody excited. Perhaps it merits the premium. We have to find out." While we acknowledge the risk and potential of CAT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CAT and that has 10,000% upside potential, check out our report about the cheapest AI stock.

ProPetro Services has amended its $350 million revolving credit facility to increase commitments and extend maturities. Cahill represented the lead arrangers in the transaction. The credit facility amendment provides ProPetro, an oilfield services company, with enhanced financial flexibility through expanded borrowing capacity and longer repayment terms.

ProPetro Holding Corp. has been upgraded to Overweight from Equal Weight by Barclays following its first-quarter 2026 results. The oilfield services company reported revenue of $271 million, down 7% from the previous quarter, and a net loss of $4 million. Adjusted EBITDA came to $36 million, representing 13% of revenue and declining 29% quarter-over-quarter. Capital expenditures incurred totalled $85 million. ProPetro announced a strategic framework agreement with Caterpillar, securing access to up to 2.1 additional gigawatts of power generation capacity over five years. The company expects to have approximately 2.6 gigawatts of power generation capacity delivered by year-end 2031. ProPetro provides hydraulic fracturing and complementary services through its hydraulic fracturing, wireline, cementing and power generation segments.