I don’t like the pay-for-play undertones, but this is good news, on balance:

Move over, Big Oil. There’s a new VIP guest in the White House: Silicon Valley.

Employees from some of the nation’s biggest high-tech companies bet heavily last year that famously tech-savvy Barack Obama would be good news for their bottom lines.

And it seems their wager paid off. Obama’s $787 billion economic stimulus bill includes $4.5 billion in funding for the so-called Smart Grid, an ambitious plan to modernize the country’s electric grid that many Obama contributors are helping to shape.

Among the companies with significant stakes in the Smart Grid are technology giants Google, Microsoft and IBM, whose employees were top donors — and, in some cases, advisers — to Obama’s campaign last year.