The public may be afraid of the mining sector but the mining boom is accelerating without them.
The Mining Boom Is Accelerating
May 6 (King World News) – Gerald Celente: The boom in building AI data centers has spurred demand for Caterpillar’s earth-moving equipment, engines, and generators, boosting revenue in its construction equipment business by 38 percent in the most recent quarter and in its power-and-energy division by 22 percent, the company reported.
Total sales and revenue across all of Cat’s business categories grew by 22 percent to $17.42 billion.
The quarter’s profit was $2.55 billion, up from $2 billion in the same period a year previous. Earnings per share reached $5.47 compared to $4.20 a year ago.
Caterpillar now says its revenue growth will be in low double digits this year, compared to the 5 to 7 percent it had foreseen earlier.
It also said its hit from Donald Trump’s tariffs would decline from $2.6 billion in 2025 to a range of $2.2 billion to $2.4 billion this year.
The collection of good news lifted Caterpillar’s share price to a record $890.26.
TRENDPOST:
We note this because once again, their growth is not because the U.S. economy is growing… AI investment is. Indeed, according to the Bureau of Economic Analysis, U.S. business investments in the first quarter of this year was responsible for more than the 2 percent of the gross domestic product growth than was consumer spending… which used to be the traditional driver of economic power. And it is estimated that AI-related investment is responsible for nearly 40 percent of total GDP growth.
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