There is no fact-based argument for a reduction of data center build out due to an already expected split government midterm result or the state voting initiatives. 1. If a local/state gov doesn’t want to make a deal, the cloud/hyperscaler will move to one who will . This isn’t binary, most locals are making deals. The builds over the next 1-1.5yrs are already permitted. 2. If the US as a whole rejects enough land mass where the demand for AI factories cannot be fulfilled in the US, those AI factories will move offshore repeating the prior 3 decades of globalization and hollowing out of our middle class. It was dumb back then and even dumber now given the geopolitical national security implications of AI sovereignty… @HalftimeReport @TheJudgeCNBC