Analog Devices acquires Empower Semiconductor for $1.5B to boost AI power delivery

ANALOG DEVICES INC

All-cash acquisition of Empower Semiconductor for $1.5 billion; expected to close in H2 2026.
Empower supplies integrated voltage regulators and silicon capacitors for high-density AI power.
Deal targets power density and efficiency constraints limiting AI system scale.
Empower CEO Tim Phillips will continue leading IVR technology efforts post-close.

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