The midterm elections are over. Starting in January, Democrats will take control of Congress from the Republicans. As usual, political change creates a backdrop for heightened stock market volatility. And this year was no different.

The biggest question mark is what impact, if any, the new political regime will have on the artificial intelligence (AI) build-out. Investors generally believe that the entire industry will be under more scrutiny. Moreover, data center construction could slow, a development that the hyperscalers, which are spending huge sums of capital, depend on so heavily.

Uncertainty is the key theme. And investors are trying to figure out how to best position their portfolios. History shows there’s an investment strategy…