I wonder what this looks like in 5 years... Will there be a massive push to repurpose these giant boxes into housing? Will they get turned back into the farm land from where they came? When a data center goes bust, what happens to the parts left behind?

I'd think the infrastructure would tend towards factories, smelters, and so on. Industrial things that have reasonably high power demands, can use the building, and don't care about the lack of windows.

They're typically not built where you want housing, and the buildings are distinctly the wrong shape.

If you can't use the power infrastructure profitably my next thought would be warehousing.

But also... we've seen a pretty continually increasing demand for compute. Even if AI busts a bit (or becomes a bit more efficient) I bet most data centres stay data centres, just less profitable ones.