Analog Devices to buy Empower Semiconductor for $1.5 billion to boost AI power portfolio

Reuters

Tue, May 19, 2026 at 4:50 PM EDT 1 min read

May 19 (Reuters) - U.S. chipmaker Analog Devices said on Tuesday it would ‌acquire Empower Semiconductor for about $1.5 billion ‌in cash, expanding its AI-focused power management portfolio.

The companies ​said the deal will help advance power delivery for AI and other compute-intensive applications, for which power bottlenecks can be ‌limiting.

Here are some ⁠details:

• Empower CEO Tim Phillips said the company was founded to ⁠solve "the hardest problem in AI power delivery," which is the power bottleneck that ​curbs AI ​throughput. "Our technology enables ​the power density, ‌speed and efficiency required by AI processors to reach their full potential."

• The transaction is expected to close in the second half of 2026, subject to regulatory ‌approvals.

• Following the deal's ​closure, Phillips will continue ​leading integrated voltage ​regulator technology efforts at Analog ‌Devices.

• PJT Partners is ​advising Analog ​Devices financially, while Barclays is the financial advisor to Empower Semiconductor.

• Shares of ​Analog ‌Devices were up 1.2% after the bell.

(Reporting ​by Prakhar Srivastava in Bengaluru; ​Editing by Diti Pujara)