The world’s largest manufacturer of construction equipment is making a bet on a little-known California startup that specializes in AI. Caterpillar acquired Monarch Tractor last month, a venture-backed startup, developing electric and autonomous off-road vehicles. Bloomberg reported the deal on Tuesday, though financial terms have not been disclosed. There are indications Caterpillar likely bought the company for its technology. Monarch, founded in 2018, has raised roughly $251 million and