The TPS53681 is a multiphase step-down controller with dual channels, built-in non-volatile memory (NVM), and PMBus™ interface, and is fully compatible with TI NexFET ™power stage. Advanced control features such as D-CAP+™ architecture with undershoot reduction (USR) provide fast transient response, low output capacitance, and high efficiency. The device also provides novel phase interleaving strategy and dynamic phase shedding for efficiency improvement at different loads. The device supports fast dynamic voltage transitions with adjustable slew rate. In addition, the device supports the PMBus communication interface for reporting the telemetry of voltage, current, power, temperature, and fault conditions to the systems. All programmable parameters can be configured by the PMBus interface and can be stored in NVM as the new default values to minimize the external component count.