Application Specific Integrated Circuit. An ASIC is a custom IC, which means it is not a standard product such as a microprocessor, memory, standard logic chip or generic component which might be available from several or many different manufacturers. It will often add functionality not available from a standard product, or combine the functions of many standard products at a lower total price. You might make an ASIC because: You need a chip that isn’t available off-the-shelf, You can save ...