Caterpillar
Makes large generator sets and turbines that run data centres when the grid is not enough.
- Revenue
- Record sales of $20.5B in Q2 2026 (quarter to 30 June 2026)
- Growth
- Power generation sales up 29% to $3.10B, and retail power generation up 72% (Q2 2026)
- Based in
- Irving, US
- Founded
- 1925
- Listed
- Public (CAT)
Its backlog of about $72B, up 92% in a year, is mostly large power units ordered for data centres.
A large share of its growth now depends on one customer type, so a pause in AI building would hit it.
Money coming in
Who pays Caterpillar, and for what.
No customers of Caterpillar mapped yet.
Money going out
Who Caterpillar pays to do what it does.
No suppliers of Caterpillar mapped yet.
Where it sits on the map
Competitors and neighbours
Makes fuel cells that give a data centre its own power without waiting for the grid.
Revenue of $1.065B in Q2 2026 (quarter to 30 June 2026)
Open profileDevelops small modular nuclear reactors aimed at selling power to data centres.
Q2 2026 revenue of $1.2M, mostly from recent acquisitions
Open profileMakes gas turbines and grid equipment that power new data centres and utilities.
$176B order backlog. Data centre orders over $5B in the first half of 2026
Open profileMakes gas turbines, grid equipment and transformers that power data centres and utilities.
Q3 FY2026 revenue of about EUR 11.4B (quarter to 30 June 2026)
Open profileThe largest US nuclear operator, selling carbon-free power under long contracts.
Revenue of $7.5B in Q2 2026 (quarter to 30 June 2026)
Open profileDesigns small modular nuclear reactors, with a partner pursuing a large plan with the US Tennessee Valley Authority.
Q2 2026 revenue of about $0.1M (reported)
Open profileOwns nuclear and gas power plants and sells power to large buyers, including data centres.
Adjusted EBITDA of $374M in Q2 2026 (quarter to 30 June 2026)
Open profileExports US natural gas and is building power plants at its terminals to sell electricity to data centres.
Plan could power up to 10 GW of computing (WSJ, Oct 2026)
Open profileOwns large gas and nuclear power plants and sells the electricity under long contracts.
Ongoing operations adjusted EBITDA of $1.77B in Q2 2026 (quarter to 30 June 2026)
Open profileSources: constructiondive.com, nasdaq.com
The map updates three times a week.
241 companies across 25 areas, 62 money flows and 89 openings so far. New research lands every Tuesday, Thursday and Saturday.
Back to the full mapFree daily email
Get the map updates in your inbox
A short read every morning on what is moving in AI, including new areas of the map as they go live. Free.
You are in
Your first AI Pulse lands tomorrow morning. Keep an eye on your inbox.