There are a couple of data centers that are causing real water, noise, or pollution problems and it doesn't help that one of them is run by Elon Musk.
The chip shortage and resulting price increases are also very real.
And AI is not profitable. There probably is a bubble that will bankrupt some companies (maybe not the ones you've heard of).
When you mix all these facts with pre-existing skepticism of capital and corporate power you get the backlash. It's exaggerated and spinning out of control, but it's rooted in reality.