A power converter is equipped with a semiconductor module stack, a positive bus bar stack, and a negative bus bar stack. The positive bus bar stack has a first positive bus bar and a second positive bus bar stacked. The negative bus bar stack also has a first negative bus bar and a second negative bus bar stacked in a stacking direction Z of the positive bus bar stack. The first semiconductor modules of the semiconductor module stack are connected to the first positive bus bar and the first negative bus bar, while the second semiconductor modules of the semiconductor module stack are connected to the second positive bus bar and the second negative bus bar. This results in a decreased variation in mutual inductance among the semiconductor modules, which leads to a decrease in overall inductance of the power converter.