A power module includes a substrate having a first layer and a second layer which are connected to one another and arranged above one another. The first layer includes a first dielectric material having a metallization arranged on a side facing the second layer and the second layer includes a second dielectric material having a metallization arranged on a side facing away from the metallization of the first dielectric material. A power semiconductor having a first contact area and a second contact area opposite the first contact area is connected to the metallization of the first dielectric material via the first contact area and arranged in a first recess of the second layer. A metallic first encapsulation encapsulates the power semiconductor in a fluid-tight manner, with the second contact area of the power semiconductor being electrically conductively connected to the metallization of the second dielectric material via the first encapsulation.