Caterpillar (CAT) a Key Company in Stargate AI Facility – Time to Buy the Stock Now?

We recently published 10 Trending Stocks to Watch as Brad Gerstner Explains Tailwinds for AI Trade – ’10x Manhattan Project’. Caterpillar Inc (NYSE:CAT) is one of the trending stocks to watch.

James Van Geelen, the founder and portfolio manager at Citrini Research, talked about his visit to the Project Stargate facility in Abilene, Texas. Answering a question about companies powering this major facility, Geelen talked about Caterpillar Inc (NYSE:CAT):

“That was the first thing we saw in the drone is you fly over it and they just built their own natural gas plant. And the interesting thing is, these aren’t like the really good natural gas turbines because if you wanted, so natural gas turbines fall along, simple cycle, combined cycle. These are simple cycle. They’re each 35 megawatts, which is very much on the lower end. Half of ‘GE Vernova, half of ’em are from Caterpillar Inc (NYSE:CAT). A company the Caterpillar ons called Solar Turbines. And the reason why they’re not, you would think, oh, you’re spending half a trillion dollars on these things. You could probably get the best thing ever, but that’ll take you seven years.”

While we acknowledge the risk and potential of CAT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CAT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.