Analog Devices is in agreement to acquire closely held Empower Semiconductor in a $1.5 billion all-cash transaction, multiple outlets report. Bloomberg previously described the company as being in advanced talks, citing people familiar with the matter, before the deal agreement was reported. The acquisition is aimed at strengthening Analog Devices’ position in power-delivery technologies used in artificial-intelligence data centers as demand rises for chips that can efficiently deliver power to AI compute hardware. Analog Devices says the deal would help expand its total addressable market in AI compute power delivery. Empower is described as a power-management semiconductor company focused on vertical power delivery, with technology intended to provide high-current power directly under AI accelerators such as GPUs. The transaction value is reported consistently across sources, and the consideration is described as cash. Outlets also note that Empower’s integrated voltage regulators are designed to sit beneath AI accelerators, linking the acquisition to Analog Devices’ efforts to supply specialized power components for systems supporting AI workloads.