In the past few decades, data centers have been placed with latency in mind - ie. Typically you don't want to be more than 1000 miles from users. However, in the world of AI, latency is already 1 second plus, so the economics change - you do better to build where there is cheap electricity and free cooling. I forsee Iceland as a good place to invest.
Iceland is a small country, so it'll depend on what power infrastructure is already there, too much power consumption will overload the grid - unless they build new power plants and other infra.
So wherever you build, you'll most likely be building the same wattage of power station as you do datacenter.
Lots of other resources can be shared too - for example shared cooling systems