AI data center power
Shipping smart power stages and 48/54 V intermediate bus converters to AI data centers; company says data center demand is a main driver of growth.
The numbers
What it is
ADI's power management chips and modules that convert and regulate power from the grid through rack-level distribution to AI processors. ADI says energy is now the most persistent constraint on scaling AI systems, so power delivery is a bottleneck it sells into.
Why it matters to the stock. Data center power is the bridge between ADI's existing industrial and communications franchises and the AI build-out. Management named Data Center and Industrial as the main growth drivers in fiscal Q3 2026.
News
ADI returned about $1.7 billion in Q3 through buybacks and a $1.10 quarterly dividend
In the fiscal third quarter Analog Devices repurchased $1.157 billion of its common stock and paid a $1.10 per share quarterly dividend.
ADI completes $1.5 billion all-cash acquisition of Empower Semiconductor
Analog Devices closed its purchase of Empower Semiconductor, a maker of integrated voltage regulators and silicon capacitors for AI data center power.
Analog Devices targets NVIDIA MGX 800 VDC AI factory power
Analog Devices announced that it is developing high-voltage hot-swap and DC-DC power solutions for NVIDIA's 800 VDC MGX AI factory systems.
Analog Devices to buy Empower Semiconductor for $1.5 billion in cash
Analog Devices agreed to acquire Empower Semiconductor for $1.5 billion in cash.