A semiconductor device includes a first plurality of dies encapsulated by an encapsulant, an interposer over the first plurality of dies, an interconnect structure over and electrically connected to the interposer, and a plurality of conductive pads on a surface of the interconnect structure opposite the interposer. The interposer includes a plurality of embedded passive components. Each die of the first plurality of dies is electrically connected to the interposer. The interconnect structure includes a solenoid inductor in a metallization layer of the interconnect structure.