Power Integrations designs and sells analog and mixed-signal ICs for high-voltage power conversion — chips that go inside power supplies and converters that transform high-voltage AC from a wall outlet into the low-voltage DC that electronic devices need. The flagship InnoSwitch AC-DC power supply IC integrates multiple components — high-voltage transistor, control circuitry, and feedback circuit — into a single chip, reducing complexity and improving efficiency for customers. Power Integrations also sells high-voltage gate drivers (SCALE brand) for industrial motors, rail, and renewable energy inverters, and motor-driver ICs (BridgeSwitch) for appliances. A key differentiator is proprietary PowiGaN technology — in-house GaN transistors rated up to 1,700V, well above the 650V ceiling of most competitors. Power Integrations operates a fabless model, outsourcing wafer fabrication to foundries while retaining control over its proprietary process technology. Revenue splits across four end markets: industrial (~38%), consumer (~37%), computer (~13%), and communications (~12%). Power Integrations sells to OEMs and merchant power supply manufacturers via a direct sales force and distributors, with distributors accounting for roughly 70% of revenue. Growth is driven by design wins — each win typically generates a multi-year revenue stream — and by expanding dollar content per design through higher-integration and GaN products. Key growth vectors include GaN penetration across existing markets, AI data center power supplies (leveraging high-voltage GaN for 800V DC architectures, including a collaboration with NVIDIA), automotive EV power supplies, and high-power industrial gate drivers.