Power-hungry AI projects are benefiting Caterpillar (CAT) as a range of customers looks to purchase the company’s engines and generators, the Wall Street Journal’s Bob Tita reports, citing sources. David Gray, co-CEO for Joule Capital Partners, the developer of a Utah data-center project that needs roughly one-quarter of the power the entire state currently uses, said the project plans to make its own electricity by buying over 700 natural-gas fueled generators from Caterpillar. “Our electric grid is constrained in many areas, so we’re trying to build power generation on site,” said Gray. “Caterpillar is very important to us.”
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