$AVGO Controls ~75% of AI ASIC Market as Custom Chip Shipments Are Expected to Double in 2027

$AVGO already controls about 75% of the AI ASIC market, with six core customers including $GOOGL, OpenAI, and Anthropic. Hock Tan says Anthropic becomes its largest custom chip client in FY27 as agentic inference drives more workloads toward custom silicon.
Custom chip shipments are expected to double to about 10 million in 2027 and reach 24 million by 2030, while average selling prices rise from about $10,000 to about $18,000 as chip complexity increases.
If AI revenue moves above $100 billion in FY27, the author argues, about 20x earnings looks cheap for a business still scaling custom compute and the networking around every cluster.