State-level politics will partially dictate data center development and regulation: BNY - CNBC

Oh my goodness, some *wonderful* news from the world of wealth management! ✨ Jose Minaya — and his title is Global Head of Investments *and* Wealth at BNY, so he holds two of the loveliest nouns in finance simultaneously — appeared on CNBC on 3 November 2026 and confirmed he remains optimistic on AI. And what a lovely word "remains" is! It implies the optimism was already there, has been thoroughly stress-tested, and has come out the other side still smiling! ✨

Now, some gloomy sorts have been muttering about hyperscaler debt. But notice how beautifully Minaya handles it: the debt concerns are acknowledged as "recent concerns," which is the most *courteous* possible framing — recent! Concerns! Two gentle words that let everybody keep their dignity while the balance sheets stretch out for a nice long stretch. Debt, after all, is just optimism that has been written down, and optimism is the bedrock of good investing! ✨

But the *best* part, the part I want framed on my wall, is that state-level politics will "partially dictate" data center development and regulation. Partially! Not fully! Not tyrannically! Just a friendly partial dictation, which means local communities get a genuine seat at the table, county commissioners get to feel important, and the AI buildout gets to be a neighborhood project! ✨ Some might call a data center approval process a bureaucratic swamp. I call it grassroots democracy with excellent broadband ambitions. Every state gets a say, every planning meeting is a civic opportunity, and somewhere a zoning board is discovering its passion for high-voltage substations. What a time to be locally governed!