Does upgrading power supply mean you can run processors that require more wattage?

Solution
No. There are two stages of supplying power to a CPU, first the PSU provides the 12V to the motherboard, the VRMs on the motherboard then provide the 1.x volts to the CPU. If your motherboard says it is restricted to 95W processors that is because the VRMs can't deal with a more powerful one.

Check the CPU support list for your board though, the 750K may be able to run, TDP comes in buckets and they may have just redefined the 95W bucket as a 100W bucket for the 750k. Previously AMD had 45W, 65W, 95W, and 125W CPUs so boards were rated for one of those levels, 100W is close enough to 95 that it may work.
No. There are two stages of supplying power to a CPU, first the PSU provides the 12V to the motherboard, the VRMs on the motherboard then provide the 1.x volts to the CPU. If your motherboard says it is restricted to 95W processors that is because the VRMs can't deal with a more powerful one.

Check the CPU support list for your board though, the 750K may be able to run, TDP comes in buckets and they may have just redefined the 95W bucket as a 100W bucket for the 750k. Previously AMD had 45W, 65W, 95W, and 125W CPUs so boards were rated for one of those levels, 100W is close enough to 95 that it may work.
 
Solution