Maxim Integrated, now part of Analog Devices
As load currents continue to increase in server, and especially AI, applications, while rail voltages tend to decrease, the conduction losses on the PCB become more harmful. The concept of stacked power elements and processing of the power difference are considered possible solutions to this problem.1-4
Specifically, with the Energy Exchanger concept,1 only the power difference is processed. In this architecture, the average current is observed in the system rail, not the minimum current of the elements connected in series.