If the market cap is based on future earnings growth (forward thinking) and those earnings are now couched by a lose of ability to build data centers then these tech companies could have issued shared or offered bonds to build out the interconnections they require. So, yes.

I doubt it would have stopped politicians from exploiting the issue, but the answer to your question is yes. Companies could have spent more money on energy infrastructure, which would have increased their cost and - all other things being equal - lowered their share price.

That said, a lower share price is not a cost to the company, except perhaps in terms of stock based compensation.