In a power converter, a plurality of semiconductor devices and a plurality of cooling plates are stacked. The plurality of semiconductor devices includes a first-first sealed semiconductor device, a second-first sealed semiconductor device, and a plurality of second sealed semiconductor devices. The first-first sealed semiconductor device has a first high potential side terminal, and a first low potential side terminal. The second-first sealed semiconductor device has a second high potential side terminal, and a second low potential side terminal. When viewed along a stacking direction, the first high potential side terminal is disposed to overlap with the second low potential side terminal.