Funding will move to those places as well. Google, Facebook have already invested Billions in Canada and China in last 1 year especially for AI.
Most countries are behind by say 5-10 years compared to USA but they have more people. An AI center in Shanghai can produce lot more in next 20 years than something in Bay Area. Lowerver birth rates in USA means USA is nearly assured to lose its competitiveness.
I understand short term it will be a pain for people like me but long term I think this might be the right to break US monopoly in technology sector.