Point of load (PoL)
Beginner
The last power converter, sitting right next to the chip it feeds.
Novice
The final voltage conversion stage, placed as close as possible to the chip so the high current at low voltage travels only a short distance.
Expert
The last stage of the conversion chain (for example 12 V→0.8 V). Its distance to the die sets lateral PDN resistance and inductance; vertical power delivery moves it under the package to shorten that path further.
Explained in Board and server (Systems).
See also: VRM (voltage regulator module), Power delivery network (PDN).