Caterpillar Inc. Lands $840 Million Atlas Power Deal as AI Data Center Power Crunch Deepens
Atlas Energy Solutions agreed to buy about $840 million in Caterpillar power-generation equipment through 2029, securing roughly 1.4 gigawatts of capacity. The deal comes as data center growth strains the U.S. grid and developers shift to on-site generation. Caterpillar shares rose 3% after the announcement. Atlas expects to own around 2 gigawatts of generation assets by 2030.