Analog Devices is in advanced talks to acquire Empower Semiconductor, a California-based power-management chip company, for $1.5bn in cash. Empower designs integrated voltage regulators using vertical power delivery (VPD) technology, placing regulators directly under GPUs to deliver over 3,000 amps of current, saving approximately 20% of total system power. The deal reflects growing demand for AI data-centre power infrastructure, as Big Tech capex commitments exceed $650bn in 2026. Empower's Crescendo platform is a leading VPD solution aligned with next-generation GPU reference designs from major suppliers. The acquisition would add VPD intellectual property and design talent to ADI's power-management portfolio.
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