A circuit board includes an electrically insulating part and an electrically conductive part. At least one semiconductor chip is embedded into the electrically insulating part in a part of the circuit board. Through openings in the part of the circuit board provide for passage of a cooling liquid. The through openings extend from a first surface of the circuit board to a second surface of the circuit board. The electrically conductive part includes a first outer conductive layer on the first surface and a second outer conductive layer on the second surface. The electrically conductive part also includes a first inner conductive layer which is electrically connected to the semiconductor chip. The first inner conductive layer is electrically insulated from the first outer conductive layer and from the second outer conductive layer by the electrically insulating part in the part of the circuit board.