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Chipmaker Analog Devices is in advanced talks to buy startup Empower Semiconductor for about $1.5 billion, in a deal that reflects demand for technology that can manage the intense energy needs of AI chips, according to people familiar with the discussion. The acquisition of the 12-year-old startup would expand Analog Devices’ portfolio of chips that support AI, whose complex workloads require massive amounts of energy. Chipmakers like Analog have been striving to deliver electricity to a...

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