The annual CES conference in January often highlights new products and innovations from technology giants and startups. NVIDIA Corporation (NASDAQ:NVDA) has gotten plenty of attention for its own new products, but a partnership with industrial giant Caterpillar Inc (NYSE:CAT) could also get investors talking.

Caterpillar stock is trading near recent highs. What’s the outlook for CAT shares?

Nvidia, Caterpillar Partner on AI Machines

When it comes to growth from AI-related products, Caterpillar doesn't want to be left behind.

The company announced an expanded collaboration with Nvidia on Wednesday that will see the companies work together on AI-powered solutions for machines, job sites, factories, and supply chains.

Caterpillar said the collaboration will "drive innovation" for the company.

"As AI moves beyond data to reshape the physical world, it is unlocking new opportunities for innovation, from job sites and factory floors ...