I think this is the lines they want people to think along. But I think it's a lot worse. These data centres have very little to do with AI as the public currently imagine it.
I genuinely believe a lot of them arent being built to make money. They same way police don't buy riot gear to make money.
They are building the hardware for a final stage boss level surveillance and control project, and dropping a smoke screen about AI bubbles and chat GPT while they do it.