Few things on my mind.

With a massive investment on chip, tech infrastructure, civil infrastructure is still lagging behind. The power, the water input? I would expect civil engineering is not poised to build that much that quickly to offset the requirements of these new data centers. Is it? Given the demand is not guaranteed for the future, I would expect other public utility consumers would be left holding the bag if those hyperscalars scale down. Would they?

Honestly, I did not see any news article that said "New nuclear facilities to be installed to meet hyperscalar energy demand and lower costs!", or even "Fusion power unlocked by ChatGPT! Facility to be online by 2027." Did I miss anything?

But beyond the mid term damage of "My capitalism machine needs essential resources more than you plebs", is there a long term disaster coming up with mass manufacturing of chips and the expected high turnover of these resources when they inevitably HCF through overuse or become obsolete? Will those be at all recyclable or just pile up in a landfill? How long can we do that before pollution or resource scarcity becomes untenable?
@TssReniaSoars E-waste at least recycles very well and if you can gather it reliably it’s pretty profitable as the concentration of a lot of minerals in it is higher than the concentration in their usual ores.