The Chip reference article from the English Wikipedia on 24-Jul-2004
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Chip

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In computing, the term chip has the following meanings:

  1. an integrated circuit (silicon die)
  2. more specifically, a microprocessor

In telecommunications:
  1. in satellite communications systems, the smallest element of data in an encoded signal.
  2. The most elemental component of a spread spectrum signal when it is decompressed in time; that is, the longest duration signal in which signal parameters are approximately constant..
  3. In micrographic and display systems, a relatively small and separate piece of microform that contains microimages and coded information for search, identification, and retrieval purposes.

Based on material from Federal Standard 1037C

In food, a chip is an extremely fatty food that is made out of flour and potato. This usually has many trans fats.

See also french fries.

CHIP actually is an acronym. Consolidated Highly Integrated Processor.