~$125B per year would be 2-3% of all domestic investment. It's similar in scale to the GDP of a small middle income country. If the electric grid — particularly the interconnection queue — is already the bottleneck to data center deployment, is something on this scale even close to possible? If it's a rationalized policy framework (big if!), I would guess there's some major permitting reform announcement coming soon.
They say this will include hundreds of thousands of jobs. I have little doubt that dedicated power generation and storage is included in their plans.
Also I have no doubt that the timing is deliberate and that this is not happening without government endorsement. If I had to guess the US military also is involved in this and sees this initiative as important for national security.