Caterpillar's third-quarter performance exceeded expectations, benefiting from strong demand for power generation equipment from data centers.

Caterpillar's third-quarter profit and revenue both exceeded expectations, benefiting from a surge in demand for its power equipment from artificial intelligence data centers. The company's stock price recorded its largest increase in 16 years. The revenue of the energy and transportation division of this construction and mining equipment giant in the third quarter increased by 17% compared to the same period last year, surpassing the growth rate of its traditional heavy machinery business. Dec Mullarkey, Managing Director of SLC Management, stated that this better-than-expected performance confirms the market's expectation of Caterpillar's key position in the energy sector. Caterpillar's stock soared 12% in New York on Wednesday, marking the largest single-day increase since March 2009, with the stock price closing at a record $585.49.