Thermally enhanced fully molded fan-out module

A semiconductor device includes a molded core unit that includes a first semiconductor die with conductive interconnects and a second semiconductor with conductive interconnects. The first semiconductor die and the second semiconductor die are encapsulated by a single encapsulant that contacts at least four sides surfaces and an active surface of the first semiconductor die and the second semiconductor die, as well as side surfaces of the conductive interconnects. The molded core unit further includes a fine-pitch build-up interconnect structure disposed over the encapsulant and coupled to the conductive interconnects of the first semiconductor die and the conductive interconnects of the second semiconductor die interconnected without a silicon interposer. The molded core unit can be mounted to an organic multi-layer substrate. A heat sink may be coupled to the back surfaces of the first semiconductor die and the second semiconductor die with a thermal interface material (TIM).