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The demand for the future power supplies that can achieve higher output currents, smaller sizes, and higher efficiencies cannot be satisfied with the conventional technologies. There are limitations in the switch performance, packaging parasitics, layout parasitics, and thermal management that must be addressed to push for higher frequencies and improved power density. To address these limitations, the utilization of Gallium-Nitride (GaN) transistors, 3-D integrated technique, low-profile magnetic substrates, and ceramic substrates with high thermal conductivity are considered. This paper discusses the characteristics of GaN transistors, including the fundamental differences between the enhancement mode and the depletion mode GaN transistors, gate driving, and the deadtime loss, the effect of parasitics on the performance of high-frequency GaN point-of-load (POLs), the 3-D copackage technique to integrate the active layer with low profile low temperature cofired ceramic magnetic substrate, and the thermal design of a high -density module using advanced substrates. The final demonstrators are three 12-1.2-V conversion POL modules: a single-phase 20 A 900 W/in3 2-MHz converter using enhancement mode GaN transistors, a single-phase10-A 800 W/in3 5-MHz converter, and a two-phase 20-A 1100 W/in3 5-MHz converter using the depletion mode GaN transistors. These converters offer unmatched power density compared to state-of-the-art industry products and research.