EP. 54: Is The AI Boom Causing Machinery Scarcity?

Data-center capex is now the dominant, near-exclusive driver of industrial equipment demand, creating unprecedented scarcity but concentrated financing risk.

• All three CAT segments firing: Jarrett Harris says in 22 years he's never seen resource industries, construction industries, and power & energy simultaneously strong for Caterpillar.
• Equipment scarcity signals: 85-90% of dealer executives report longer new-equipment lead times and lighter-than-expected used inventory; haul trucks/articulated trucks now have 9-12 month lead times approaching new-equipment pricing.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.