AI Data Centers Are Set To Electrify This $13 Billion Family’s 76-Year-Old Company
Southwire, a Georgia-based electrical manufacturing company owned by the Richards family, is poised for significant growth due to the surging demand for electrical infrastructure from AI data centers. The company, headquartered in Carrollton, GA, is a major supplier of wire and cable in the US and has invested heavily in modernization and capacity expansion to meet this demand. This trend is expected to further increase the Richards family's fortune.
Southwire, a 76-year-old electrical manufacturing company headquartered in Carrollton, West Georgia, is positioned for substantial growth due to the escalating demand for electrical infrastructure driven by AI data centers. The company, owned entirely by the Richards family, manufactures half of the wire and cable used to distribute electricity in the U.S. and has seen its revenue climb to $9.7 billion in 2025, contributing to the family's estimated $13.1 billion fortune.
The explosion of AI data centers, which require two to four times more energy than traditional chips, has significantly increased the need for heavy-duty cables and other electrical components. Southwire responded by tripling the size of one of its North Carolina plants in November 2024 to produce these necessary cables and has invested $1.8 billion into modernizing its facilities. According to David Long, CEO of the National Electrical Contractors Association, Southwire is actively "trying to stay on the cutting edge."
The company's history dates back to 1937 when founder Roy Richards began building electric poles in Carroll County, Georgia. He played a significant role in the local community, serving on various boards and supporting local institutions. His son, Roy Richards Jr., continued this legacy, establishing a family foundation and supporting programs like "12 for Life," which combines classroom instruction with manufacturing jobs for high school students. Despite its national impact, Southwire remains deeply rooted in Carrollton.
The Federal Reserve Board reports a quadrupling of investment in AI data centers between 2021 and 2025, with another 1,500 new data centers under development in the U.S. This surge is projected to increase AI-driven data center energy demand by 175% by 2030, making power availability a critical constraint for operators. This trend underscores the crucial role of infrastructure partners like Southwire in meeting the future energy needs of the data center industry.