In a semiconductor device, a first semiconductor chip includes a first circuit and a first inductor, and a second semiconductor chip includes a second circuit and chip-side connecting terminals. An interconnect substrate is placed over the first semiconductor chip and the second semiconductor chip. The interconnect substrate includes a second inductor and substrate-side connecting terminals. The second inductor is located above the first inductor. The chip-side connecting terminals and the two substrate-side connecting terminals are connected through first solder balls.