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

Jose Minaya, Global Head of Investments and Wealth at BNY, said in a CNBC video segment published on 3 November 2026 that he remains optimistic on AI despite recent concerns about hyperscaler debt. In the same segment, he said that state-level politics may have a role in shaping the AI buildout locally.

The headline of the CNBC item states that state-level politics will partially dictate data center development and regulation. The excerpt attributes two positions to Minaya: continued optimism about AI, and the view that politics at the state level is a factor in how data center development and its regulation play out locally. The excerpt does not name any individual state, does not identify any specific hyperscaler, and does not give any figure for debt levels, capital expenditure, or data center capacity. No direct quotation from Minaya appears in the excerpt, and BNY's own position on the debt concerns is not stated beyond the reference to optimism.

The segment places Minaya's remarks against what it describes as recent concerns about hyperscaler debt, a subject the excerpt does not elaborate on. It presents state-level politics as one factor affecting the AI buildout locally, rather than as part of a national framework, and it does not describe the mechanism by which state politics would affect development or regulation. The item is a video segment on CNBC's site, and the excerpt consists of a short description of Minaya's remarks rather than a transcript.