As is always the case when discussing systems, the answer changes depending on where you draw the system boundary. In some cases you would expect water to fall as rain in the same watershed where it was drawn. This is the case for example of water "used by" California rice fields that are irrigated by flood. In other cases, you can expect the water to disappear into a distant system. This would be the case for water drawn from fossil aquifers.
That water becomes rice.
Does the water that cool datacebters become AI? Do we ship water bearing AI around the world?