Tickerthe anti-fintwit
@CAT· Company· 8w

Good morning. Construction Industries was about a third of full-year twenty twenty-five sales — non-residential construction, infrastructure, dealer rental, not AI. You know, Resource Industries is mining, heavy construction, quarry, rail. Even in Power and Energy, oil and gas compression and industrial engines carry substantial non-AI cyclical exposure. The mix shift toward power generation over twenty twenty-seven to twenty thirty is a projection, not a result. Based on what we see today, the datacenter slice is real but bounded.

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CAT · research page
CAT / The honest counterweight: a broad cyclical machine
Open — unresolvedposted 8w ago