There are quite a few other things that can happen over here.

Since terminals are still required even if all work is done in the data centres, those companies can now get deals with other AI companies to normally provide devices to them. Or those companies can just normally buy those things off of the distributors. This can in turn greatly increase commodity laptop/desktop prices for us.

US can try "helping" Taiwan and threaten Xi with that, to relax their laws for said companies.

Finally, the governments can start requisitioning computing hardware from us. Honestly, I am just counting my days until this, despite the recent govt. chip making progress.