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- Empower Semiconductor
Empower Semiconductor Acquisition, Valuation, Funding & Investors
Empower Semiconductor was acquired by Analog Devices for $1.5B in May 2026.
Cumulative funding Empower Semiconductor raised
$215M
across 3 funding rounds
Key investors in Empower Semiconductor
Fidelity
CapitalG
Atreides Management
Abu Dhabi Investment Authority
Samsung Catalyst Fund
Knollwood Investment Advisory
Walden Catalyst
Maverick Silicon
About Empower Semiconductor
Empower Semiconductor is a Santa Clara-based designer of integrated voltage regulators for system-on-chips. Its IVR technology delivers high-efficiency power delivery for mobile devices, servers, and communications gear, reducing size and energy use compared to traditional architectures. The company holds patents on advanced power management circuits that enable sub-1V regulation with rapid transient response, targeting applications from smartphones to data centers.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$900M (Sep 2025)
Sectors
Empower Semiconductor Acquisition
Empower Semiconductor was acquired by Analog Devices for $1.5B on 18 May 2026.
Before the acquisition Empower Semiconductor had raised $215M across 3 funding rounds.
Analog Devices announced a definitive agreement to acquire Empower Semiconductor in an all-cash transaction valued at $1.5 billion. The deal is structured as a cash purchase of Empower’s stockholders and is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approval. The transaction expands Analog Devices’ high-density power portfolio for the AI era and strengthens its power delivery capabilities for AI infrastructure. The acquisition fits Analog Devices’ strategy to deepen its position in AI data center power management and next-generation power delivery, an area where Empower’s technology is positioned for energy-intensive computing workloads. The deal context indicates a focus on enhancing Analog Devices’ semiconductor offering for AI applications and accelerating its power technology roadmap. Empower Semiconductor is an AI power delivery provider focused on high-density power solutions for advanced computing environments. The company was being acquired as a standalone technology provider with products relevant to AI chip and data center power delivery, and the acquisition is intended to support Analog Devices’ expansion into this segment.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 18 May 2026 | Strategic M&A | $1.5B |
Empower Semiconductor Valuation
Empower Semiconductor is currently valued at $900M, based on its Series D in September 2025.
The $140M round was led by Fidelity, with participation from Socratic Partners, Atreides Management, Abu Dhabi Investment Authority, Maverick Silicon, CapitalG and 2 other investors.
Empower Semiconductor valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Series D | $900M |
Empower Semiconductor Funding History
Empower Semiconductor has raised a total of $215M across 3 funding rounds.
Empower Semiconductor's first fundraising round was a $45M Series C in October 2021. The most recent completed round was a $140M Series D in September 2025.
Empower Semiconductor funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Series D | Fidelity (lead); Socratic Partners; Atreides Management; Abu Dhabi Investment Authority; Maverick Silicon; CapitalG; Walden Catalyst; Knollwood Investment Advisory | $140M | $900M | Empower Semiconductor, a Silicon Valley-based company, develops integrated voltage regulators (IVRs) and FinFast™ technology for efficient power delivery to AI processors, reducing energy loss and data center costs by enabling compact, high-density power under chips. The firm positions itself as a leader in powering AI-class processors amid surging demands for power management in data centers. On September 22, 2025, it closed over $140 million in Series D financing, led by Fidelity Management & Research Company, with participation from Abu Dhabi Investment Authority (ADIA), Atreides Management, CapitalG, Knollwood Investment Advisory, Maverick Silicon, Socratic Partners, and Walden Catalyst Ventures. Barclays Capital served as exclusive placement agent, bringing total funding to approximately $236 million. The funding supports acceleration of growth in the AI sector, technology breakthroughs, product development, market expansion, engineering scaling, and go-to-market efforts. Investors highlighted Empower's technical leadership, customer adoption, and impact on data center scaling. CEO Tim Phillips emphasized the syndicate's validation of technology lead and market opportunity, projecting gigawatts of energy savings globally. CapitalG's James Luo noted its role in AI infrastructure. Fidelity's involvement underscores traditional asset managers' shift toward semiconductor startups as core holdings, with Empower part of their $2.8 billion in seven such investments in 2025. The investment reflects booming semiconductor funding, up fivefold excluding top deals from 2022 to 2025, driven by AI needs. |
| Mar 2023 | Undisclosed stage | - | $30M | - | Empower Semiconductor develops integrated voltage regulators (IVRs) to power AI-class processors and data centers, focusing on high power density, efficiency, and reduced energy footprint for high-performance computing. The company, based in Silicon Valley, targets the power management needs of AI chips with its FinFast™ and Empower IVR™ technologies, enabling scalable power delivery with speed and precision. Prior to the 2023 round, Empower raised $45 million in a Series C1 in October 2021 led by Mesh Ventures, with participation from Samsung Catalyst Fund, Hallador, and Regal I, to fund global expansion and next-gen semiconductor development in the $10 billion high-performance power management market. In March 2023, Empower closed a $30 million equity financing round, described as a Series C extension, led by an international group of strategic and institutional investors. The funds were allocated to accelerate next-generation IVR development, expand international sales and engineering teams, and support Tier 1 customers in data centers and AI applications. The 2023 financing strengthened Empower's position amid rising demand for energy-efficient power solutions driven by data-intensive systems. Subsequently, Empower continued fundraising with a Series D round exceeding $140 million in September 2025, led by Fidelity Management & Research Company, with investors including CapitalG, Maverick Silicon, Atreides Management, Walden Catalyst Ventures, Knollwood, and an Abu Dhabi Investment Authority subsidiary. This brought total funding to approximately $236 million, aimed at accelerating AI growth and technology breakthroughs for gigawatt-scale energy savings in data centers. |
| Oct 2021 | Series C | MESH (lead); Samsung Catalyst Fund; Hallador; Regal I; Archerman Capital | $45M | - | Empower Semiconductor raised $45M in its Series C funding round in October 2021, led by MESH (also referred to as Mesh Ventures), with participation from Hallador Venture Partners, Regal Venture Capital, and Samsung Catalyst Fund. This round focused on product momentum and followed earlier funding like an Early Preferred (C1) round pre-2021 for $4.5M to support IVR prototyping. The company specializes in integrated voltage regulators (IVRs) embedded in systems-on-chip (SoCs) for efficient power delivery, particularly targeting AI processors and data centers to address escalating power demands. Empower's technology aims to optimize power density and reduce total cost of ownership for hyperscalers, with validations from partners like TSMC and Marvell. A Series C extension or equity round followed in March 2023 for $30M to accelerate global customer adoption, bringing the C-round total to around $80M. The company has raised approximately $217M to $236M in total funding across multiple rounds by 2025, positioning it against competitors like MPS in the power management semiconductor space. Funds from the 2021 round and subsequent raises supported high-volume production ramp-up, R&D for next-gen innovations, and scaling for AI infrastructure, including gigawatt-scale energy savings in data centers. Empower has garnered interest from strategic investors like Samsung and Regal I, reflecting its role in enabling advanced AI computing performance. |
Who has invested in Empower Semiconductor?
13 investors have backed Empower Semiconductor across its funding rounds, including Fidelity, CapitalG, Atreides Management, Abu Dhabi Investment Authority, Samsung Catalyst Fund and Knollwood Investment Advisory.
Lead investors include Fidelity and MESH.
Empower Semiconductor Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Sep 2025 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Participant | Oct 2021 | ||
| 1 | Lead | Oct 2021 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Sep 2025 | ||
| -- | 1 | Participant | Oct 2021 | |
| 1 | Participant | Oct 2021 | ||
This data is available for Pro users. Sign up to see all 13 Empower Semiconductor investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialEmpower Semiconductor Competitors
Empower Semiconductor competitors include listed companies like Ambiq Micro, SUESS MicroTec, Faraday Technology and Supreme Electronics, and private ones like Yuze Semiconductor and Nearfield Instruments.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $73M | ($29M) | $1.5B | 9.8x | ||
| Publicly listed | $579M | $89M | $1.5B | 2.5x | ||
| Publicly listed | $565M | $58M | $1.5B | 2.7x | ||
| Publicly listed | $7.1B | $170M | $1.5B | - | ||
| Private | - | - | $1.4B | - | ||
| Private | - | - | $1.6B | - |
Empower Semiconductor Public Comps
Empower Semiconductor is no longer listed, but its public comps include Ambiq Micro, ShunSin, SUESS MicroTec, Faraday Technology, Supreme Electronics, Fujimi, Axera Semiconductor, Basic Semiconductor, Gudeng and Vanchip.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $73M | ($29M) | 15.8x | 9.8x | (39.2x) | (58.3x) | |||
| $236M | $33M | 6.5x | - | 46.4x | - | |||
| $579M | $89M | 2.4x | 2.5x | 15.6x | 18.3x | |||
| $565M | $58M | 2.1x | 2.7x | 20.7x | 18.0x | |||
| $7.1B | $170M | 0.6x | - | 26.8x | - | |||
| $446M | $103M | 3.3x | 3.1x | 14.4x | 12.6x | |||
| $84M | ($152M) | 18.0x | - | (9.9x) | - | |||
| $46M | ($35M) | 35.1x | - | (45.9x) | - | |||
This data is available for Pro users. Sign up to see all Empower Semiconductor competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Empower Semiconductor
| When was Empower Semiconductor founded? | Empower Semiconductor was founded in 2014. |
| Where is Empower Semiconductor headquartered? | Empower Semiconductor is headquartered in San Jose, CA, United States. |
| Is Empower Semiconductor publicly listed? | No, Empower Semiconductor was acquired by Analog Devices in May 2026. |
| Who acquired Empower Semiconductor? | Empower Semiconductor was acquired by Analog Devices in May 2026. |
| How much was Empower Semiconductor acquired for? | Empower Semiconductor was acquired for $1.5B in May 2026. |
| What is Empower Semiconductor's valuation? | Empower Semiconductor was last valued at $900M in its Series D in September 2025. |
| How much funding has Empower Semiconductor raised? | Empower Semiconductor has raised $215M across 3 funding rounds. |
| What was Empower Semiconductor's last funding round? | Empower Semiconductor's last funding round was a $140M Series D in September 2025, led by Fidelity. |
| Who are Empower Semiconductor's investors? | Empower Semiconductor's investors include Socratic Partners, Fidelity, Atreides Management, Abu Dhabi Investment Authority, Samsung Catalyst Fund, Hallador, MESH, Maverick Silicon, CapitalG, Regal I and 3 others. |
| Which companies are comparable to Empower Semiconductor? | Companies comparable to Empower Semiconductor include Ambiq Micro, SUESS MicroTec, Faraday Technology, Supreme Electronics, Yuze Semiconductor and Nearfield Instruments. |
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