As someone in the midst of being replaced by AI, it ain't happening. It's superficially great at my job but the moment anything needs fixing or changing its more work than if I (or a human in general) had been paid to make it properly in the first place. No real productivity has been gained or time saved, those costs have all just been kicked down the road. The only thing LLMs (specifically LLMs, narrow/specialist systems have legitimate uses) have really enabled is the ability to produce Bethesda levels of technical debt in record time.

"Even if the market corrects a bit" I think you have no concept on how large that bubble has become already. This could heavily impact the real economy.

After the bubble implodes it will become much harder to finance such data centres, never mind that it will be much harder to find a place to build it, even with all the corruption in the world.