California

And at the end, V.C. Bigg-Pyle and his rich sucker friends at LOTR Reference Capital Management will lose impressive heaps of money on the construction bills for pointless or nonexistent data centers, but for the most part, neither them nor us are actually going to suffer. California will be perfectly okay*, but a lot of officially tallied economic figures will have to get some sharp corrections.

(* Until actual for-real AI eventually comes along, anyway, at which point any imaginable outcome from interstellar paradise to complete extinction may be on the table, with the first stage probably involving catastrophic unemployment in either case.)