Key Takeaways Caterpillar shares rose to close at a record high on Thursday, as the company's fourth-quarter results topped estimates. Demand for equipment and construction machinery to build out AI data centers has boosted Caterpillar's results in recent quarters. America's construction and farming equipment giant Caterpillar has become a big beneficiary of the AI boom. The latest gains extend a blistering rally for Caterpillar's stock that's seen the shares surge 16% in January so far. Wall Street analysts are somewhat divided on whether Caterpillar's stock has room to rise, however.