Abstract: In one example, an integrated circuit comprises: a substrate; a semiconductor die; metal interconnects coupled between the semiconductor die and the substrate; an insulation layer coupled between the semiconductor die and the substrate, the insulation layer surrounding the metal interconnects; an inductor coupled to the substrate; and a magnetic material encapsulating the semiconductor die, the inductor, the metal interconnects and the insulation layer, the magnetic material having a different material from the insulation layer.