The firm believes Broadcom leads the ASIC chip market, holding a 75% share for AI inference. Piper Sandler forecasts Broadcom's AI demand to reach 12 gigawatts in fiscal 2027 and 38 gigawatts by fiscal 2030, supporting a 51% EPS compound growth rate over the decade. However, the ability to increase supply is seen as the biggest execution risk, as unserved demand could impact potential revenues.