Caterpillar Jumps After Raising Long-Term Outlook on AI Boom

Caterpillar Inc.’s shares surged after the company delivered stronger-than-expected quarterly earnings and raised its long-term revenue outlook, supported by fast-growing sales from construction and power generation equipment.

Shares rose about 9% in morning trading on Thursday in New York after the US manufacturer said it now expects sales through the end of the decade to grow at a faster clip than it had previously forecast.