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Caterpillar's stock has increased by 62% in 2025, driven by rising demand for its natural-gas generators for AI data centers, including a significant contract to supply over 700 generators to Joule Capital Partners in Utah. The company plans to invest $725 million to expand its Lafayette, Indiana plant and double turbine-engine production capacity by 2030, as power-generation sales reached $7.8 billion in 2024, reflecting a 22% year-over-year growth. This strategic pivot towards power generation positions Caterpillar for enhanced growth amid increasing global electricity demands from data centers.