im assuming chip draws yuuge power

For the same reason as around any other CPU or GPU and lots and lots of other chips: buck converter, i.e. 12V 20A DC in, 1.2V 200A DC out.

It's part of a step down voltage regulator called a buck converter. The buck converter works by putting a pulse of energy into the inductor and stretching it out to lower the voltage. This creates the core voltage.

To get rid of electrical noise.