Broadly speaking: You don't care.
What you probably care about when designing a server is speed (GHz), parallelism (number of cores), and bus speed, combined with the total heat load (usually expressed in BTU/hr) the machine is going to put on your cooling system.
How you prioritize these depends on your use case.
If you care anyway:
Wattage (more accurately "Wattage - Thermal Design Power") is probably the number you care about: It's a statement of the amount of heat the CPU will produce when working, and how much electricity it will need.
CPUs with a higher wattage rating will consume more power, and generate more waste heat - this drives up the cooling load (and power demand) for your datacenter.
The nm (nanometer process - reflecting the size of elements on the chip) number affects both chip speed and power usage (wattage) - in the most general terms, smaller chips (lower numbers) are faster and more power efficient. (If you've ever seen Grace Hopper explain nanoseconds, the concept translates: smaller elements mean faster machines - though you're also benefitting from miniaturized transistors that switch faster, the ability to cram more of them on a chip, etc.)
Further Reading: