Power distribution in multi-chip modules

A multi-chip module (MCM) having a substrate including a first surface, a second surface and a multi-layer interconnection arrangement disposed between the two surfaces. A high-density thin-film circuit region is provided on the substrate first surface to interconnect a plurality of integrated circuit chips and the multi-layer interconnection arrangement. The integrated circuit chips are powered through the high-density thin-film circuit region, which receives power from the multi-layer interconnection arrangement. A plurality of discrete on-board voltage converter devices, mounted on at least one substrate surface, provide uniform power supply distribution to multi-layer interconnection arrangement power planes, converting an MCM input voltage and current to a relatively lower output voltage and a relatively higher output current. On-board voltage conversion permits the MCM to receive power at higher voltages than is supported by the high-density thin-film circuit region, decreasing MCM input current magnitudes and reducing noise and energy losses. The voltage converters are discrete components. Electrically-isolated MCM power regions isolate power and ground noise.