An inverter controller comprising an AC motor as a load. A rectifying circuit converts AC power from an AC power source into DC power. A smoothing capacitor smoothens a DC voltage from the rectifying circuit. An inverter circuit converts DC power supplied via the smoothing capacitor into a desired frequency. A current detection circuit detects a output current of the inverter circuit. A voltage detection circuit detects a terminal voltage (Vpn) of the smoothing capacitor. A voltage command calculation circuit calculates a voltage command to the AC motor. A speed command calculation circuit calculates a speed command to be used when it is determined that the AC power source is in a power failure state or when the terminal voltage (Vpn) reaches a certain value.