Caterpillar Briefly Tops $300 Billion Valuation on AI Rally

Photographer: Bridget Bennett/Bloomberg Caterpillar Inc. shares extended a turbocharged rally fueled by bets on the industrial giant’s artificial intelligence prospects to briefly push its market valuation above $300 billion for the first time. The company, known for its iconic yellow construction and mining equipment, saw its stock rise as much as 2.4% Tuesday to a high of $644.59. The shares pared some gains, closing 1.1% higher to give the company a value of some $298 billion. Most Read from Bloombe ...