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Caterpillar Erupts As Quarterly Sales Top $20 Billion For First Time Amid AI Data Center Boom

Zero Rss
4 days 7 hours ago
Caterpillar Erupts As Quarterly Sales Top $20 Billion For First Time Amid AI Data Center Boom

Caterpillar shares jumped in pre-market trading after reporting a second-quarter beat, driven by strong growth in its heavy machinery, power and energy business amid the data center buildout, reshoring, and other activities reindustrializing the nation under the Trump administration.

Revenue soared 24% from one year ago to $20.54 billion, exceeding the $19.01 billion Bloomberg consensus estimate. Machinery, power and energy revenue climbed 25% to $19.58 billion, while operating income surged 51% to $4.21 billion, well above the $3.5 billion estimate.

Financial Products operating income rose 24% to $263 million, beating Wall Street expectations, though the segment's $962 million in revenue missed forecasts. Research and development spending increased 12% to $616 million.

Here's a snapshot of Caterpillar's second-quarter results, courtesy of Bloomberg:

Revenue $20.54 billion, +24% y/y, estimate $19.01 billion (Bloomberg Consensus)

  • Financial segment revenue $962 million, +7.5% y/y, estimate $982.8 million
  • Machinery, Power & Energy revenue $19.58 billion, +25% y/y, estimate $18.13 billion
  • Machinery, Power & Energy operating income $4.21 billion, +51% y/y, estimate $3.5 billion
  • Financial Products operating income $263 million, +24% y/y, estimate $248.1 million

R&D expenses $616 million, +12% y/y, estimate $602.5 million

"This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," Caterpillar CEO Joe Creed wrote in a statement.

Creed continued, "This milestone underscores both the essential work our customers do every day and the dedication of Caterpillar employees worldwide to solving our customers' toughest challenges. Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments."

Caterpillar shares surged nearly 8% in premarket trading, suggesting the company cleared the high bar set by investors. This morning's surge follows a 23% decline last month, the stock's worst performance since 2009, as concerns about data-center spending fueled a broader selloff across power-equipment companies.

Last week, Michael Burry announced we shorted Caterpillar for the first time ...

*MICHAEL BURRY SAYS HE SHORTED CATERPILLAR FOR THE FIRST TIME

*BURRY SAYS HE SHORTED TESLA, NVIDIA AND APPLIED MATERIALS

— zerohedge (@zerohedge) June 30, 2026

Read the note where Morgan Stanley expects $1 trillion hyperscaler capex this year.

Tyler Durden Tue, 08/04/2026 - 07:45
Tyler Durden

Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week

Zero Rss
4 days 7 hours ago
Saudi Aramco Profit Soars As CEO Warns Hormuz Closure Removes 100 Million Barrels A Week

Saudi Aramco, the world's largest oil producer by volume, reported a 33% jump in second-quarter profits on Tuesday as the war-driven surge in Brent crude, which averaged $97 a barrel, boosted earnings. The company maintained export flows by redirecting crude around the disrupted Strait of Hormuz through its East-West Pipeline to the Red Sea.

Adjusted net income for the quarter surged to $33.4 billion from $25.2 billion a year earlier, beating the Bloomberg Consensus estimate of $31.1 billion. Aramco sold oil at an average of $108.10 a barrel, up from $66.70, while Brent averaged nearly $97 during the quarter.

Aramco heavily relied on its East-West Pipeline, storage facilities, and Red Sea energy terminals to maintain export flows as the Hormuz chokepoint came to a standstill for the quarter. Nevertheless, liquids production plunged 28% to 7.57 million barrels a day, while natural gas output tumbled 16%.

The East-West Pipeline shows how critical an alternative route to transport energy products has become for U.S.-allied countries in the Gulf, as a once-in-a-generation infrastructure buildout, whether a new pipeline or expanded capacity of legacy ones to new ports, is set to be underway. This, in itself, will erode Tehran's leverage on the Hormuz in the years ahead.

Aramco maintained its $21.9 billion base dividend despite generating just $12.3 billion in free cash flow. Gearing, a measure of the company's indebtedness, increased to 6.2% from 4.8% at the end of March, highlighting the financial strain of sustaining a payout critical to Saudi government finances.

Separately, Aramco's President and CEO, Amin H. Nasser, told Al Arabiya Business that the closure of the Hormuz chokepoint sparked the "largest oil shock in history," resulting in the global market losing more than 2.6 billion barrels of supply since the start of the Gulf crisis in late February.

Aramco’s President and CEO Amin H. Nasser tells Al Arabiya Business that the closure of the Strait of Hormuz caused the “largest oil supply shock in history,” resulting in the global market losing more than 2.6 billion barrels of supply since the start of the crisis. pic.twitter.com/DbzlcglOYT

— Al Arabiya English (@AlArabiya_Eng) August 4, 2026

Nasser said the closure of the Hormuz removes about 100 million barrels of oil from the market every week and has placed the global refining system under severe strain.

From the earnings call: 

Goldman Sachs' top commodities experts, Samantha Dart and Daan Struyven, have both warned about the refinery shock and pointed out that "diesel is at the epicenter of the supply squeeze."

Read the report:

Even after the chokepoint reopens, Nasser warned that it could take up to 18 months to replenish global inventories.

Tyler Durden Tue, 08/04/2026 - 07:20
Tyler Durden

Global Bond Market On Edge As Japanese Yields Soar After "Horrible" 10Y JGB Auction

Zero Rss
4 days 7 hours ago
Global Bond Market On Edge As Japanese Yields Soar After "Horrible" 10Y JGB Auction

While much of the market focus has fallen on the US long-end, which saw substantial pressure in the past week, sending 30Y yields to 5.27%, the highest level since 2007, it was Japan again which stole the show overnight. But first, recall that the primary tradeoff for the BOJ preventing it from raising rates and comfortably pushing up the yen without needing to spending tens of billions in massive interventions (whether individual or joint with the US), is that raising rates risks collapsing the world's biggest house of cards, which is the Japanese bond market, the world's, second biggest of which half is now owned by the Bank of Japan. 

Well, early on Tuesday morning Japan had its first major coupon auction since the latest intervention and it went... catastrophically. 

The auction, which saw a huge tail, the second highest since the start of the century...

... and dismal demand in the form of a collapsing 2.56 bid to cover, far below the 3.3 average, the lowest since May 2025...

... and the third lowest going back all the way to 2015.

... sent the yield on 10Y paper as spiking as much as 5bps higher to 2.87% with JGB futures tumbling as much as 34 ticks to 126.37. 

The lowest price was also a long way off from pre-sale estimates. In a nutshell, as Bloomberg's Mark Cranfield put it, it was a "horrible auction" and ominously adds that "this is such a bad bond sale it could spill over negatively to Treasuries and other G-10 bonds." The Bloomberg strategist also notges that "investors appear to be giving the BOJ pay back for not be clearer in their intentions to get ahead of inflationary forces and raise interest rates more quickly."

The auction was so bad, even domestic Japanese investors seem to have been surprised at the poor metrics.  As a result, 10-year yields fast approached the peak seen in July around 2.90%, with Cranfield warning that "should Japanese bonds go beyond that threshold seen last month, it is likely to send a deeply negative read across to G-10 peers, which will reverberate through global fixed-income trading."

Elsewhere, Bloomberg strategist Ven Ram points out the obvious noting that "the lukewarm reception to Japan’s latest bond auction shows that the latest round of currency intervention has failed to turn around sentiment toward the nation’s assets.... While the Japan-US joint currency intervention shored up the yen, the follow-through needs to come not from the US Treasury or Japan’s finance ministry, but rather from the Bank of Japan."

The bottom line: unless the BOJ follows through on the intervention either by raising rates outside its normal policy review cycle or by signaling an urgent intent to follow through with successive hikes, bonds will continue to falter. That, in turn, bodes poorly for the yen’s outlook — regardless of what the authorities do in the short term.

Sure enough, after dropping as low as 155.20 yesterday, the USDJPY is now almost 300 pips higher and has already erased a third of the full intervention impact which cost Japan just shy of $100 billion.

Tyler Durden Tue, 08/04/2026 - 07:10
Tyler Durden

"Creepy" Smart Glasses Are Creating A Privacy Problem

Zero Rss
4 days 8 hours ago
"Creepy" Smart Glasses Are Creating A Privacy Problem

Smart glasses are quickly becoming the next major consumer tech battleground, with Meta leading the market and rivals including Google, Samsung, and Apple preparing their own AI-powered eyewear. But as the devices become more capable, they're also fueling a growing debate over whether convenience is coming at the expense of privacy, according to a new report from Wired. 

Unlike smartphones, which require users to visibly point a camera, smart glasses can quietly capture photos, video, and audio from the wearer's point of view. Critics argue that makes them far easier to misuse. Meta has attempted to address concerns with recording lights and anti-tamper protections, but questions remain over how effective those safeguards really are. The company also briefly experimented with facial-recognition capabilities before abandoning the feature after it drew scrutiny.

Even so, consumers continue to buy them. Fans point to hands-free photography, AI assistants, live translation, accessibility features, and other practical uses that make the glasses more than just another gadget. Some smaller manufacturers are trying to distinguish themselves with camera-free designs or physical lens covers aimed at privacy-conscious buyers.

Wired writes that privacy groups say the technology may ultimately require regulation rather than voluntary safeguards, calling for mandatory recording indicators that users cannot disable. Their argument is that as AI wearables become commonplace, legal protections need to evolve just as quickly.

Then again, if people are already posting every meal, workout, vacation, and awkward first date online, maybe the only thing smart glasses are really doing is saving everyone the trouble of pulling a phone out of their pocket.

Tyler Durden Tue, 08/04/2026 - 06:55
Tyler Durden

Trump Says Iran Faces 'Decapitation' If It Doesn't Sign A 'Good' Deal

Zero Rss
4 days 8 hours ago
Trump Says Iran Faces 'Decapitation' If It Doesn't Sign A 'Good' Deal Summary
  • Trump says Iran faces 'decapitation' if it doesn't agree to a deal.
  • Trump says Gulf allies halted planned US strikes in favor of diplomacy.
  • Iran says Hormuz talks with Oman are progressing, but US actions remain the obstacle.
  • Oil prices still falling on optimism over Hormuz negotiations & uptick in transit.
  • Tehran is betting it can outlast Trump by raising the costs of confrontation.
//--> //--> //--> Will the U.S. invade Iran before 2027?
Yes 21% · No 80%
View full market & trade on Polymarket

*  *  *

Trump Speaks to Reporters, Addresses Iran (non)Talks

President Trump has told reporters in the Oval Office that the Iran conflict is "working out very well" and that this is Tehran's "last chance to sign a good document".

"I ⁠think we're going to maybe get ​something, but I want to give ​them every last chance before decapitation," he said, reiterating a threat to launch a major ​attack on Iran.

On Hormuz, he said:

“It has to be [free], I am not going to let them charge. If anybody is going to charge, we will charge, we are the ones … with a total control,” he said. “We have a thing called a blockade … No, no, there is not going to be charging. We are not talking about charging at all. There won’t be charging.”

*TRUMP: WANT TO GIVE IRAN LAST CHANCE BEFORE 'DECAPITATION'

... at 4:01pm on Friday

— zerohedge (@zerohedge) August 3, 2026

On engaging Iran in talks even while the Iranians themselves insist they will not participate in any new talks:

When we talk we say 'we're talking', if we're not talking, when you ask me, 'no we're not talking', I'll say it. But we are talking right now, we're talking, and we're talking at the request of Iran, backed by Saudi Arabia, backed by UAE, and backed by Qatar in particular, but others also, many countries called, many-the leaders of many, I'm friendly with a lot of them--This is a last chance, this is not something-if it doesn't happen, this is a last chance for them to sign a... good document.

BREAKING: Trump on Iran:

This is their last chance to sign a good document. pic.twitter.com/sLD3HkQEV3

— Clash Report (@clashreport) August 3, 2026

Curiously, Trump is again insisting that when Iran says talks are off, they are lying...

Reporter: Talks with Iran are now off.

Trump: They are going on right now. It's an amazing thing.

They are not denying it this time.

But for some reason, when they are talking, they don't like to say that they are talking. pic.twitter.com/m1slQoACy0

— Clash Report (@clashreport) August 3, 2026 Trump: Looking for Solution 'Caused' by Iran

President Trump on Monday issued a new Truth Social, perhaps trying to explain his latest weekend TACO move, accusing Iran's leadership of being "unbelievably duplicitous," claiming Tehran privately sought and sheduled talks while publicly insisting it is only dealing with Oman. He asserted that the Strait of Hormuz is already "completely controlled by the United States Navy" through what he called the "United States Wall of Steel," adding that "nothing gets through to Iran" unless Washington allows it. Trump also insisted discussions toward a resolution are underway despite Iranian denials, while reiterating his bottom line: "IRAN WILL NEVER HAVE A NUCLEAR WEAPON!"

U.S. officials say that no novel negotiations are scheduled with Iran despite Trump's statements, maintaining that ongoing talks are limited to indirect discussions via mediators involving envoy Steve Witkoff and Jared Kushner. - CBS

Trump is increasingly letting his frustration and 'exasperation' go public. This seems to only confirm that indeed there are no talks taking place at this point. The US president continues to insist that the whole crisis was "caused" by the Iranians "for decades" but that it is the US now looking for a "solution" - but Iran won't play ball, after apparently 'begging' for talks...

We're only 5 months in... one wonders what the narrative will be with the US still bogged down in Hormuz by November:

To get a sense of how long the MAGA base will keep falling for Trump’s bullshit-through-military-defeat, during Dubya’s presidency it took until mid-2006, or 3 years after it was obvious what a disaster his Iraq war was, for his GOP base to begin to peel.
We’re only 5 months in. https://t.co/Mozz60zX1y

— Mark Ames (@MarkAmesExiled) August 3, 2026 Trump Claimed Talks Set For Monday Afternoon, Tehran Balks

President Trump now says new talks with Iran will begin Monday afternoon after he called off a planned "massive attack" - following high level Saudi intervention, and also likely White House advisors and Pentagon leadership failing to agree on a strategic vision.

"The Saudis expressed concern and asked for clarity about the plan of action," one US official told Axios over the weekend, with another saying that crown prince Mohammed bin Salman urged Trump to de-escalate and refrain from launching the strikes. Trump aknowledged all of this to reporters aboard Air Force One while returning from Bedminster, New Jersey, to Joint Base Andrews. He claimed the canceled attack would have been "the biggest attack since World War II" and could have been "disastrous" for Iran.

"I was asked to by Saudi Arabia, the UAE, by Qatar, and by Iran to hold off strikes," Trump said. "It would have been a massive attack." He added: "When the allies asked to call it off, you gotta say, Well, let's see."

.@POTUS “We had an attack that would have been the biggest attack since WORLD WAR II.

It would have been DISASTROUS FOR THEM.” pic.twitter.com/HnVYxw0EsV

— DOW Rapid Response (@DOWResponse) August 2, 2026

"I asked the Crown Prince of Saudi Arabia, 'What would you rather have us do?'" Trump said. "He said, 'We would prefer a deal rather than an attack.'" And more: "Allies think there is a deal," Trump explained. "There is a deal on Hormuz, and it will be a deal on the nuclear."

Iran says No Negotiations Happening

Iranian officials said there are currently no negotiations with the United States and that Tehran is not planning to send or host any delegations "these days."

However, Iran has confirmed that it is deep into negotiations over managing the Strait of Hormuz with Oman, and that it desires to get more ships moving through the vital transit waterway. According to Bloomberg on Monday:

Iran suggested negotiations to get more ships moving through the Strait of Hormuz are making progress, after President Donald Trump called off what he said was a major attack on the Islamic Republic.

Oil fell on Monday, with Brent crude down about 4.5% to just over $83 a barrel, after Iran’s foreign minister, Abbas Araghchi, said discussions between Tehran and Oman over management of the strait are in the final stages.

While Tehran officials acknowledged that negotiations with Oman are ongoing and that progress has been made toward securing a temporary passage through the Strait of Hormuz, they stressed that reaching an agreement with Oman alone would not be enough to reopen the waterway, warning that the situation will remain unchanged as long as US "aggression" continues.

Iranian Foreign Ministry spokesman Esmail Baghaei conveyed also that China is concerned about "the escalation of conflict and insecurity in the region" and is working to prevent the situation from worsening. He described that there is no new mediator involved in contacts with Washington, with Pakistan and Qatar continuing to carry out that role.

On the broader conflict, Baghaei argued that the US-Israeli war on Iran is not merely a war against one country, but "a war against the entire region." He laid out that Iran once again rejected attempts to tie developments in Yemen to the conflict with Iran, calling such claims "a form of evasion of responsibility."

"We currently do not have negotiations with America," and Iran had no plans to host foreign delegations or send negotiators abroad in the coming days, Foreign Ministry spokesperson Esmaeil Baghaei told reporters.

🔴 Iranian Foreign Ministry spokesman Esmaeil Baghaei says there are no talks with the US currently, adding that there are talks with Oman over Strait of Hormuz

🔴 Baghaei says working with Oman on a temporary safe route through Strait of Hormuz

🔴 Baghaei says reaching an… pic.twitter.com/9nd1T4lgNT

— Al Arabiya English (@AlArabiya_Eng) August 3, 2026 Iranians 'Won't Bend' - Reuters Analyst Points Out

Meanwhile, the on-again, off-again style of escalation and de-escalation pattern we are witnessing is likely only helping Tehran's side in terms of leverage, as the conflict grinds on and potentially becomes more politically costly for the White House. 

Referring to the Iranians, Reuters writes in new analysis, "They see an opportunity in what they regard as President Donald Trump's reluctance to become deeply entangled ​in another Middle East conflict ahead of November's midterm elections."

"The Iranians...believe that by widening the war and increasing the pressure, he will eventually give in," a Gulf source is cited in the report as saying. "Trump thinks he can hit the Iranians hard and bring them to the negotiating table, but they won't bend." That much should be obvious by now, as Trump Tacos once again.

According to more from Reuters: "Iran is betting it can outlast Washington by turning the Middle East's trade routes, shipping lanes and energy infrastructure into pressure points that steadily raise the cost of confrontation, according to Gulf officials and analysts."

Who can outlast? This is currently month #6 of the war...

via ABC7

"Rather than seeking a ​decisive military victory, Tehran is pursuing a strategy of calibrated escalation aimed at widening the conflict without triggering full-scale war," the report continues. But that much should have been obvious and anticipated from week one of the war, and clearly the US side underestimated things.

More Latest Developments

via Newsquawk

  • US President Trump said the US is locked and loaded and ready to go against Iran, but they “have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal have been agreed to. This would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran’s nuclear threat. Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL.”
  • In further comments, US President Trump said the Iran attack would have been a massive one if not paused, adding there's a deal on Hormuz and there will be a deal on denuclearisation. He added that he was asked very strongly by Iran to hold off the attack. On negotiations, he said they will begin tomorrow afternoon.
  • US CENTCOM was reported on Friday to have prepared a large-scale operation in the form of a decisive two-week bombing campaign should President Trump choose escalation to break the deadlock in the Middle East, according to The Hill reports, citing sources.
  • US Central Command intelligence official wrote in an email that they are seeking new and unconventional ways to increase pressure on and punish Iran, according to an internal message circulated among military analysts, according to CNN
  • Iran's Foreign Ministry spokesperson said negotiations with Oman are progressing, with the two sides holding constructive talks on a new framework and exchanging maps over the past seven to eight days for review, IRNA reported.
  • Iran's Foreign Ministry spokesman Baghaei said Iran is working with Oman to establish a temporary security corridor in the Strait of Hormuz, adding that Tehran is not currently in dialogue with the US and is holding talks with Oman on the waterway. Baghaei added that issues with the US should be addressed at a later stage and that there are no plans to receive a US delegation or send an Iranian delegation in the coming days.
  • Iranian Foreign Minister Araghchi told a cabinet meeting on Sunday that the negotiations with Oman to manage shipping through the Strait of Hormuz “were in the final stages”, according to FT. It was separately reported that Araghchi held phone calls with Saudi, Pakistan and Iraqi counterparts and exchanged views on the latest developments in the region, while he warned on Saturday against any adventurous action by the US and stressed Iran's readiness to respond decisively to any aggression.
  • Iranian lawmaker Qashqawi said there are no discussions with the US or talks on the nuclear issue, adding that US sanctions amount to war; lasting peace can only be pursued once the military, economic and media conflict ends, SNN reported.
  • Iran’s Mehr News Agency rejected US President Trump’s claim that he halted attacks at the request of Iran and Middle East countries, while it called it “a new lie” and emphasised that Iran’s forces are on full alert.
  • UKMTO said on Saturday it received a report of an incident 21 nautical miles northeast of Oman's Khasab, where the master of the tanker saw a large splash and explosion in close proximity to the vessel, although no damage to the vessel was reported.
  • Israel told the White House it has significant security concerns over a proposed Hamas disarmament agreement, saying intelligence suggests Hamas intends to rebuild its military capabilities rather than genuinely disarm. Israel added that it will not withdraw from most of Gaza until Hamas has fully completed the disarmament process.
  • Palestinian civil defence said Israeli drone and airstrikes hit multiple locations across the Gaza Strip, killing at least 18 people, including two women and four children, with residential apartments, tents sheltering displaced people and civilian areas among the reported targets.
  • Kpler shipping data showed 18 vessels passed through the Bab al-Mandeb on Sunday, compared to the 27 vessels on Saturday.
Tyler Durden Tue, 08/04/2026 - 06:35
Tyler Durden

Senator Urges National Security Review Of Chinese Solar Company's Planned Use Of Facility Near US Military Base In Ohio

Zero Rss
4 days 8 hours ago
Senator Urges National Security Review Of Chinese Solar Company's Planned Use Of Facility Near US Military Base In Ohio

Authored by Frank Fang via The Epoch Times,

Sen. Bernie Moreno (R-Ohio) has asked Treasury Secretary Scott Bessent to carry out a national security review of a Chinese solar company's potential use of a facility located near a major U.S. military base in Dayton, Ohio.

Sen. Bernie Moreno (R-Ohio) speaks during a hearing on oversight of the Department of Homeland Security before the Senate Homeland Security and Governmental Affairs Committee in the Dirksen Senate Office Building in Washington on Feb. 12, 2026. Chip Somodevilla/Getty Images

Moreno, who serves on the Committee on Homeland Security and Governmental Affairs, sent a July 31 letter to Bessent, expressing his concerns about a pending real estate transaction involving SolarSpace Technology, a China-based manufacturer of photovoltaic cells and modules.

"It is my understanding that SolarSpace intends to lease or purchase a facility located at 2555 Woodman Drive, Kettering, Ohio, which is approximately 13 miles from Wright-Patterson Air Force Base," Moreno wrote.

"The Chinese Communist Party is never allowed to purchase or lease land near our military installations."

Wright-Patterson Air Force Base is home to the Air Force Materiel Command, the Air Force Research Laboratory, and the National Air and Space Intelligence Center, employing more than 38,000 military personnel, civilians, and contractors.

The Air Force Research Laboratory has conducted hypersonic science and technology research since the early 1960s, a decades-long effort that a senior laboratory scientist said in 2021 was supported by roughly $1.7 billion in U.S. investment over the previous 25 years.

In 2014, a former civilian employee of the Air Force Research Laboratory was sentenced to 37 months in federal prison in Los Angeles for selling the laboratory's sensitive information to an individual he believed was a Chinese intelligence agent.

According to Moreno, the base "is not only one of the Department of War's most strategically significant installations, but also a cornerstone of U.S. air and space superiority, serving as a central hub for aerospace research, engineering, and intelligence."

Moreno contended that SolarSpace Technology poses a national security risk because "the Chinese Communist Party has leveraged American commercial entities to advance its military and intelligence objectives."

SolarSpace Technology is headquartered in Xuzhou, a city in northwestern China's Jiangsu Province. According to the company's website, it has an overseas office in Wilmington, Delaware.

A 2023 report submitted to China's Shenzhen Stock Exchange showed that the company had received millions in Chinese government subsidies from 2020 to the first half of 2023.

As chairperson of the Committee on Foreign Investment in the United States (CFIUS), Bessent should immediately investigate SolarSpace Technology, according to Moreno.

"We cannot let this potential transaction proceed without investigation," Moreno wrote. "We cannot allow potential shell companies for the Chinese Communist Party to buy land or facilities near our most sensitive military and critical infrastructure sites, including Wright-Patterson Air Force Base."

Chinese entities owned 277,336 acres of U.S. agricultural land as of Dec. 31, 2023, according to the U.S. Department of Agriculture. The holdings - concentrated in Texas, North Carolina, Missouri, Utah, and Florida - include properties located within 150 miles of at least 30 U.S. military installations.

Many states - including Florida, Georgia, Indiana, Missouri, and South Dakota - have taken legislative or executive action to address concerns about foreign ownership of U.S. land.

In 2024, Missouri Gov. Mike Parson signed an executive order banning China and other foreign adversaries from owning agricultural land within 10 miles of critical military facilities in the state. Missouri is home to several military facilities, including Whiteman Air Force Base, which hosts the nuclear-capable B-2 Spirit stealth bombers.

To confront the issue, Sen. Tim Scott (R-S.C.) led a group of Republican senators, including Moreno, in reintroducing the Protect Our Bases Act (S.2116) in June 2025.

The legislation would "strengthen CFIUS to review these purchases near sensitive national security installations to protect our nation's security from being compromised by the CCP [Chinese Communist Party] and other enemies," Moreno said in a statement at the time.

SolarSpace Technology did not respond to a request for comment by the time of publication.

Tyler Durden Tue, 08/04/2026 - 06:30
Tyler Durden

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