A method and apparatus for augmenting an external voltage regulator with a shunt integrated voltage regulator is disclosed. In one embodiment, an integrated circuit (IC) includes a load circuit coupled to a supply voltage node. The supply voltage node is electrically coupled to receive a supply voltage from an external voltage regulator. The IC also includes a shunt integrated voltage regulator coupled to the supply voltage node and implemented on the same IC die as the load circuit. If the supply voltage falls below a specified value (e.g., to increased current demand), the integrated voltage regulator may begin supplying current to the load. This may cause the supply voltage to return to within its specified range of the specified value, while allowing the external voltage regulator sufficient time to respond to the increased current demand. Thus, voltage droops on the supply voltage node may be minimized.