The AI ASIC market is expected to increase from $11 billion in 2023 to $79 billion by 2029. However, AI ASIC vendors contributed only 2% to the market in 2023. Hyperscalers and CSPs, who chose to build their own ASICs, contributed 98%. This trend is expected to continue and will require strategy rethink on the part of AI ASIC vendors. The market for AI ASIC vendor could shrink even further should hyperscalers and CSPs decide to start selling their chips.