Analog Devices (ADI) is in advanced discussions to acquire closely held startup Empower Semiconductor for about $1.5 billion in cash, multiple news outlets reported Monday, citing unnamed sources familiar with the matter.

The prospective acquisition of the 12-year-old company would expand the chipmaker's portfolio to address the intense energy management needs of artificial intelligence chips, the news outlets reported.

A transaction could be announced as early as Tuesday or Wednesday when Analog Devices releases its quarterly financial results, the reports quoted the people as saying.

Final terms have not been established, and the ongoing discussions could still conclude without an agreement, according to the reports.

Analog Devices and Empower Semiconductor did not immediately respond to MT Newswires' request for comment.