Investors’ fears will likely persist given that Hinojosa and others are not slated to take office until January, according to Chris Grisanti of MAI Capital Management. However, the chief market strategist is still optimistic on AI, as he believes that the deals related to the buildout will eventually get done. “While there’s definitely more of a headwind now after the election, this is an industrial revolution akin to railroads, akin to internet, and it’s not going to stop,” he said. “I don’t think we’re at the bottom, but I think you can see it from here.” Friday’s relatively upbeat sentiment was kept in check after people familiar with the matter told CNBC that Microsoft is planning to reduce the number of neocloud partners. $SPY