How Empower Semiconductor Is Pioneering the Next Wave of Energy-Efficient AI Chips

At Walden Catalyst, we are always looking for companies that are pushing the boundaries of innovation. That’s why we’re thrilled to announce our participation in Empower Semiconductor’s over $140 million Series D financing round — following our earlier investment in the company’s Series C.

Empower is redefining power delivery for AI and data centers with its groundbreaking integrated voltage regulator (IVR) technology. Here’s why we believe Empower is so special and why we’re honored to be part of their journey.

The Problem: Skyrocketing AI Data Center Energy Requirements

Data centers are the backbone of the modern digital economy, powering everything from cloud computing to AI workloads. But they face a growing challenge: skyrocketing energy consumption, driven by AI chips that can now consume more than a kilowatt per chip.

Traditional architectures rely on multiple conversion stages to step power down from rack-level inputs to the sub-1V levels required by CPUs and GPUs. Each conversion adds inefficiencies, increasing operational costs and exacerbating cooling demands. With the exponential rise of AI workloads, these losses are no longer tolerable as total power requirements increase by an order of magnitude.

It’s not only an issue of inefficiency but also of speed and power density. The power requirements for new AI chips have gone from 100W to 1 kW and beyond. You can’t deliver this much power the old way—you need new types of power delivery chips with immense power density capability.

The Solution: Empower’s IVR Platform

This is where Empower comes in. The company’s Crescendo IVR chips are engineered to provide super-fast response and high power density, allowing them to fit directly underneath the chip to deliver power vertically and provide the fast response times demanded by the world’s leading AI processors.

Empower has developed a fully integrated voltage regulator that addresses these challenges head-on. Their IVR technology brings vertical power delivery, moving the high-current regulation closer to the processor to minimize distribution losses, improve response time, and shrink the overall footprint.

By combining efficiency, density, and speed, Empower’s IVR helps hyperscale data centers and AI systems:

· Reduce energy losses, cutting operational costs and cooling demands
· Increase power density, enabling more compact designs and higher performance per watt
· Accelerate system integration, supporting the demanding requirements of next-generation AI chips

Why This Matters

The shift to vertical power delivery is more than an incremental improvement—it’s a paradigm change in how power is managed inside advanced computing systems. As AI reshapes industries, the ability to deliver massive compute power efficiently and sustainably will define the winners of the next decade.

This is exactly the type of opportunity at the core of our WCV Semiconductor Thesis:

· Breakthrough semiconductor innovation remains foundational to scaling AI
· Infrastructure bottlenecks—like power delivery and energy efficiency—create new markets for category-defining companies
· Deep-tech founders who combine world-class engineering with a vision for system-level impact are building the future

The Team Behind the Breakthrough

Beyond technology, we invest in teams. Empower’s leadership exemplifies the experience and execution we look for in our portfolio companies. CEO and Founder Tim Phillips brings deep expertise from his roles at International Rectifier and Infineon, while CTO Trey Roessig adds decades of experience from Volterra and Analog Devices. Their leadership, combined with a growing world-class engineering team, positions Empower to lead this new wave of innovation.

Looking Ahead

We believe Empower is at the forefront of a new era of energy-efficient computing. Their IVR technology not only improves performance but also makes it possible to scale AI infrastructure sustainably. With the support of their Series D financing, Empower is poised to accelerate commercialization and meet surging demand across hyperscale and cloud markets.

At WCV, we believe semiconductors remain the foundation of the AI revolution, and that solving infrastructure bottlenecks is key to unlocking its full potential. Empower’s IVR technology is exactly the kind of breakthrough we look for: deep-tech innovation with system-level impact, built by exceptional entrepreneurs.

At Walden Catalyst, we are proud to back visionary entrepreneurs building the future of semiconductors — and to continue supporting Empower Semiconductor across multiple funding rounds as they redefine power for the AI era.