IBC and POL for Data Centers 2026

Intermediate Bus Converters (IBC) and Point-of-Load (POL) regulators are the final-stage power delivery systems in servers. They convert and precisely regulate voltage directly at the GPU (or other processors) to ensure stable, high-performance operation. 

NVIDIA’s shift toward 800 V DC architectures by 2025 is driving a major redesign of data center power systems. This transition is expected to create a new $1.1B high-voltage IBC market by 2031, alongside continued strong growth in conventional IBC and POL solutions, fueled by rising GPU power requirements.

Report objectives:

The report’s main objectives are as follows:

Disruptive architecture: creating new HV power segment reaching $1.1B by 2031

The introduction of 800V DC distribution by Nvidia in 2025 is forcing a full redesign of both stages, creating an entirely new converter category: the High-Voltage IBC (HV IBC), responsible for stepping 800V down to 48V, 12V, or 6V before the point of load. No commercial off-the-shelf HV IBC exists today; the market will start in 2027 and is forecast to reach $1.1B by 2031. The conventional IBC market (48V to 12V) continues to grow in parallel and to get tripled by 2031 compared to the 2025. Through our inspection, Yole Group noticed the significant increase of the POL units on the H200, B200 and the Rubin board which explain the market growth CAGR2025-2031 to reach 21.3 %.

Nvidia redefines the powertrain, the supply chain struggle to follow

Accelerator designers -led by Nvidia- now sit at the center, dictating IBC and POL specifications through GPU electrical and thermal requirements rather than leaving architecture definition to server OEMs. Nvidia's multi-sourcing strategy is deliberate: eleven HV IBC reference designs were presented at GTC 2026. Tier-1s module makers like Delta, AE, or Flex can make or break the GaN device suppliers competing behind them. Infineon stands alone as the only IDM to have crossed into module territory, offering both discrete devices and a complete IBC module. At the POL level, the competitive boundary between device supplier and module maker has effectively collapsed: Infineon, Renesas now compete head-to-head with Delta and Flex for the same socket.

AI demands breakthrough technologies and topologies, the transition has started

For a very high power density requirement, GaN high switching frequency presents a big advantage to shrink the PCB footprint. Most of the HV IBC prototypes shown so far are GaN based. It’s expected that GaN to be the dominant technology for HV IBC and IBC above 2 kW. Silicon retains dominance at the POL level for at least five more years. Beyond devices, topology innovation like resonant, multi-level, hybrid switched capacitor and new magnetic core materials are becoming decisive differentiators as current per GPU is exceeding 1,500 A. Vertical power delivery and integrated voltage regulators will mark the next structural inflection point for the POL market.

• About the author
• Glossary
• Companies cited
• Three-page summary
• Report Objectives
• Executive summary
• Context
  • What is a data center
  • Data centers drivers and trends
  • Power transmission in Data Center
  • It’s all about efficiency
  • What the role of DC/DC converter?
  • Why focus on?
  • PSUs aren’t the bottleneck. Next stages might be.
• Market forecasts
  • 2021-2031 global IBC and POL market forecast (in Munits and in $M)
  • IBC: split by voltage (48V vs 800V)
  • POL: split by voltage and package
  • Device: split by technology (Si, SiC, GaN) and voltage level (40 V, 100 V, 600 V)
  • Wafer: Si and GaN-on-Si
• Market trends
  • Breakthrough on the architecture levels.
  • 48 V distribution will become the “legacy” for data center?
  • New specifications make new products to appear: HV IBC.
  • Adoption of new technology when starts from scratch is easier
  • 800V adoption may be delayed because:
  • Return Of Investment
  • Geopolitical concerns
  • HV IBC, IBC and POL: specifications evolution.
  • HV IBC, IBC and POL: benchmark products.
  • IBC: beyond 2 kW at ¼ brick size. POLs converging toward same performances
  • Conclusion
• Supply chain
  • Data Center global analysis:
  • Supply chain reshaping:
  • How Nvidia is challenging the leaders
  • Server’s OEMs have been limited by Nvidia vertical integration
  • Chip makers are the winners
  • IBC supply chain
  • GaN players to supply HV IBC, IBC makers
  • HV IBC: benchmarking. EPC vs Navitas.
  • Power devices supply chain inside servers
  • 11 references Design for HV IBC: who will be the winner?
  • POL supply chain
  • POL: the Customers of IDM are their competitors
  • IDM as a solution provider
  • Supply chain consolidation: Partnership
• Technology Trends
  • Technology trends overview
  • Densification & efficiency. Key enablers: HV & WBG.
  • Power Supply: voltage vs power, where are WBG?
  • 2026-2027 Nvidia product
  • HV IBC trends:
  • Why 6V output is emerging?
  • Input series output parallel (ISOP) architecture + LLC topology
  • IBC trends:
  • How many DC/DC stages?
  • Regulated vs non-regulated topology?
  • POL trends:
  • Lateral to vertical POL
  • VPD improves transient current response
  • POL: discrete (SiP) or module?
  • Teardown by Yole Group: H200 and B200 from Nvidia. Evolution of POL units across the different generation
  • What about next generation: Blackwell & Rubin?
  • DrMOS requirements: Teardown by Yole Group
  • Thermal management: toward TOLL package in IBC
  • Resonant topology to resolve the EMI issues.
  • OSAT’s bet on embedded power packaging
  • The next generation of POLs is Integrated Voltage Regulators
  • Outlook – To be watched closely in the coming years

Advanced Energy, Alchip, AMD, Analog Devices, ASE Group, AWS, Bel, Broadcom, Cerebras, Delta Electronics, Dell, EPC, Empower Semiconductor, Flex, Foxconn, Google, Great Wall Power, Groq, HP, Infineon, Innoscience, Intel, Inventec, Lite-On, MediaTek, Megmeet, Meta, Microsoft, Monolithic Power Systems, Navitas, Nexperia, Nvidia, onsemi, Open Compute Project, Power Integrations, Quanta, REED, Renesas, Rohm, SambaNova, Silergy, STMicroelectronics, Supermicro, SynQor, Texas Instruments, TSMC, Vicor, Wiwynn and more…