Anthropic's $3.4 Billion Caterpillar Generator Deal Sends CAT Shares Up 6.6%

Anthropic has committed to spend approximately $3.4 billion on 1.7 gigawatts of gas-fired power generation equipment from Caterpillar, taking over generator orders originally placed by energy infrastructure firm OnePWR Solutions two years ago. The deal, described as the largest known single purchase of power-generation equipment by an AI lab, also includes engineering and construction capabilities to install the generators at Anthropic's AI data centers. The equipment covers units available in the near term as well as deliveries extending over the next two years.

Caterpillar shares surged 6.61% to $595.53 as of 12:31 p.m. ET on Monday, November 9, rebounding sharply after a roughly 10% decline the prior week. The stock was among the top contributors to a broad rally in the Dow Jones Industrial Average, which at various points during the session was up between 700 and 1,285 points, with Caterpillar joined by Goldman Sachs and Cisco as leading gainers in the index.