The state of the art was non-existent.
At the time of the Pentium Pro, the World Wide Web was four years old. Widespread use of shared hosting was about ten years in the future; if you suggested that people would want to run untrusted code provided by random third parties, they'd look at you like you'd grown a second head. Memory protection was about preventing one crashing program from taking down the whole system, not about letting programs hide data from one another. Speculative execution was not seen as having any security implications whatsoever -- it was simply a way of avoiding performance-killing pipeline stalls.