# Monolithic Power (MPWR)
> 고성능 전력관리 반도체(DC-DC·VRM) 설계사(팹리스). 엔비디아 H100·블랙웰 GPU 보드의 저지연 전력공급에 채택돼, 2025년 4분기 데이터센터가 매출의 41%(전년 28%). 2025년 매출 $28억(+27%). RF·모터·배터리 등 다양한 전력 IC도 공급.
Canonical: https://valuechain.wiki/monolithic-power · Updated: 2026-06-21T16:13:45.352556+00:00 · Source: ValueChain.wiki (refined facts, cited)

## Financials & segments
- 총매출: 2025 매출 $2.8B (+27%)
- 고객 집중도: 데이터센터 Q4 매출 41%. 엔비디아 GPU 보드 채택.
- 사업부문: 데이터센터 전력(VRM), 전장·산업·통신 전력 IC

## Annual stock return (as of 2026-06-18)
- 2021: +35.5%
- 2022: -27.9%
- 2023: +79.9%
- 2024: -5.6%
- 2025: +54.5%
- 2026 YTD: +73.2%

## Value-chain annual returns (top→bottom: demand → node → supply; YTD as of 2026-06-18)
| Company | Chain | 2021 | 2022 | 2023 | 2024 | 2025 | YTD |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Apple | lead3 | +34.6% | -26.4% | +49% | +30.7% | +9.1% | +9.8% |
| CoreWeave | lead2 | · | · | · | · | · | +64.7% |
| Foxconn | lead2 | -5.1% | +2.8% | +7.8% | +80.1% | +26.9% | +21.8% |
| 알파벳 (구글) | lead2 | +65.3% | -39.1% | +58.3% | +35.8% | +66.1% | +17.8% |
| 아마존 | lead2 | +2.4% | -49.6% | +80.9% | +44.4% | +5.2% | +5.9% |
| Super Micro | lead2 | +38.8% | +86.8% | +246.2% | +7.2% | -4% | +4.7% |
| 메타 플랫폼스 | lead2 | +23.1% | -64.2% | +194.1% | +65.9% | +13.1% | -12.3% |
| 마이크로소프트 | lead2 | +52.5% | -28% | +58.2% | +12.9% | +15.6% | -21.2% |
| NVIDIA | lead1 | +125.5% | -50.3% | +239% | +171.3% | +38.9% | +13.1% |
| Monolithic Power | node | +35.5% | -27.9% | +79.9% | -5.6% | +54.5% | +73.2% |

## Money in · revenue from (2)
### NVIDIA (high)  → /nvidia.md
- note: 엔비디아 GPU 보드의 전력공급(VRM·DC-DC) 채택.
- [confirms] 딥서치 (KO, news, published 2026-01-01) https://invest.deepsearch.com/stock/MPWR/: "엔비디아 H100·블랙웰 보드에 MPWR 전력 IC 채택, 데이터센터 매출 41%."
- [confirms] SEC EDGAR (EN, filing, published 2025-10-30) https://www.sec.gov/Archives/edgar/data/1280452/000143774925024185/ex_815328.htm: "엔비디아 H100·블랙웰 보드에 MPWR 전력 IC 채택, 데이터센터 매출 41%."

### 서버·클라우드 (전력 IC) (mid)
- metric: 매출 ~$2.8B · 2025 · 2025 매출
- note: 클라우드 서버 전력관리 IC 공급.
- [confirms] SEC EDGAR (EN, filing, published 2025-10-30) https://www.sec.gov/Archives/edgar/data/1280452/000143774925024185/ex_815328.htm: "2025 매출 $28억(+27%), 데이터센터 견인."

## Money out · pays to (2)
### 파운드리·후공정 (비공개) (low)
- note: 팹리스로 위탁생산·후공정(비공개).
- [confirms] 딥서치 (KO, news, published 2026-01-01) https://invest.deepsearch.com/stock/MPWR/: "팹리스 전력 IC 설계사로 위탁생산."

### R&D·엔지니어 (비공개) (low)
- note: 전력 IC R&D 인력(비공개).
- [confirms] SEC EDGAR (EN, filing, published 2025-10-30) https://www.sec.gov/Archives/edgar/data/1280452/000143774925024185/ex_815328.htm: "고성능 전력 IC R&D."

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