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A two-stack 42-45GHz power amplifier is implemented in 45nm SOI CMOS. Transistor stacking allows increased drain biasing to increase output power. Additionally, shunt inter-stage matching is used and improves PAE by more than 6%. This amplifier exhibits 18.6dBm saturated output power, with peak power gain of 9.5dB. It occupies 0.3mm2 including pads while achieving a peak PAE of 34%. The PAE remains above 30% from 42 to 45GHz.