A power module includes a semiconductor device having a first and second arms, and gate driving circuit board. The first arm includes a first extending electrode, a first gate electrode of a first power device extending in a direction different from the first extending electrode, and a first output electrode extending in the different direction from the first gate electrode. The second arm stacked on the first arm includes a second extending electrode extending in the first extending electrode extending direction in an insulating state, a second gate electrode of a second power device, extending in the first gate electrode extending direction, and a second output electrode extending in the first output electrode extending direction with electrical connection thereto. The gate driving circuit board is disposed at the first and second gate electrodes extending side so as to face the semiconductor device.