A substrate includes a first dielectric layer, a magnetic core at least partially in the first dielectric layer, where the magnetic core comprises a first non-horizontal thin film magnetic (TFM) layer. The substrate also includes a first inductor that includes a plurality of first interconnects, where the first inductor is positioned in the substrate to at least partially surround the magnetic core. The magnetic core may further include a second non-horizontal thin film magnetic (TFM) layer. The magnetic core may further include a core layer. The magnetic core may further include a third thin film magnetic (TFM) layer, and a fourth thin film magnetic (TFM) layer that is substantially parallel to the third thin film magnetic (TFM) layer.