Eh. Space is just a place that's annoying to ship to. (With the one key advantage of having line-of-sight to arbitrary deployed IoT devices.)

"Underwater", meanwhile, is more of a mode of operation / design for data centers, with the goal of that simplifying (and decreasing costs for) cooling.

An underwater data center doesn't imply that the data center is actually off-shore to any large degree. I'd imagine they'd look more like undersea-cable landing points, built "into" a beach.