Bring a large saucepan of lightly salted water to a boil. Add pasta and cook for 8 to 10 minutes or until al dente. Add the asparagus during the last 3 to 5 minutes of cooking. Drain and transfer to a large bowl.
In a large saucepan over medium heat combine butter and cream. Cook until thick and bubbly. Season with garlic powder, black pepper and cayenne pepper. Stir in Parmesan cheese and chicken then heat through.
Pour sauce over pasta and asparagus then toss to coat.