U.S. chipmaker Analog Devices (ADI) announced it will acquire Empower Semiconductor for approximately $1.5 billion in cash, expanding its AI-focused power management portfolio.
The companies said the deal will advance power delivery for AI and other compute-intensive applications, where power bottlenecks can be limiting.
Empower CEO Tim Phillips said the company was founded to solve “the hardest problem in AI power delivery.” He noted that their technology enables the power density, speed, and efficiency required for AI processors to reach full potential.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals. Phillips will continue leading integrated voltage regulator technology efforts at ADI after the deal closes.
PJT Partners is advising ADI financially, while Barclays is advising Empower. ADI shares rose 1.2% in after-hours trading.
