chip

1. FOOD
a) British English [usually plural] a long thin piece of potato cooked in oil SYN French fry American English:
fish and chips
a bag of chips
b) American English [usually plural] a thin flat round piece of food such as potato cooked in very hot oil and eaten cold SYN crisp British English:
a bag of potato chips
2. COMPUTER a small piece of ↑silicon that has a set of complicated electrical connections on it and is used to store and ↑process information in computers:
the age of the silicon chip
chip technology
3. PIECE a small piece of wood, stone, metal etc that has been broken off something:
Wood chips covered the floor of the workshop.
a chocolate chip cookie (=one that contains small pieces of chocolate)
4. MARK a small hole or mark on a plate, cup etc where a piece has broken off
chip in
There’s a chip in this bowl.
5. have a chip on your shoulder to easily become offended or angry because you think you have been treated unfairly in the past
6. when the chips are down spoken in a serious or difficult situation, especially one in which you realize what is really true or important:
When the chips are down, you’ve only got yourself to depend on.
7. be a chip off the old block informal to be very similar to your mother or father in appearance or character
8. GAME [usually plural] a small flat coloured piece of plastic used in games such as ↑poker or ↑blackjack to represent a particular amount of money
9. SPORT (also chip shot, chip kick) a hit in golf, or a kick in football or ↑rugby, that makes the ball go high into the air for a short distance
10. have had your chips British English informal to be in a situation in which you no longer have any hope of improvement
⇨ ↑blue chip, ⇨ cash in your chips at ↑cash in(3)

Cambridge Advanced Learner's Dictionary

chip / tʃɪp / noun (FRIED FOOD)

A1 [ C usually plural ] UK ( US French fry ) a long, thin piece of potato that is fried and usually eaten hot:

fish and chips

beans/egg/sausage and chips

oven chips (= chips that are baked in a cooker)

A2 [ C usually plural ] US for crisp noun (POTATO) :

a bag of chips

[ C usually plural ] a thin slice of fried maize, banana, or other food that is eaten cold:

banana chips

chip / tʃɪp / noun [ C ] ( also microchip ) specialized (COMPUTER PART)

B2 a very small piece of semiconductor, especially in a computer, that contains extremely small electronic circuits and devices, and can perform particular operations:

a silicon chip

chip / tʃɪp / noun [ C ] (PIECE)

a small piece that has been broken off a larger object, or the mark left on an object such as a cup, plate, etc. where a small piece has been broken off it:

wood chips

Polly fell and knocked a chip out of her front tooth.

This mug's got a chip in it/ out of it.

chip / tʃɪp / noun [ C ] (PIECE)

a small piece that has been broken off a larger object, or the mark left on an object such as a cup, plate, etc. where a small piece has been broken off it:

wood chips

Polly fell and knocked a chip out of her front tooth.

This mug's got a chip in it/ out of it.

Collins Advanced Learner’s English Dictionary

chip

[tʃɪ̱p]

chips, chipping, chipped
1) N-COUNT: usu pl Chips are long, thin pieces of potato fried in oil or fat and eaten hot, usually with a meal. [BRIT]
  I had fish and chips in a cafe...
  Frank Browne shook more sauce over his chips.(in AM, use French fries)
2) N-COUNT: usu pl Chips or potato chips are very thin slices of fried potato that are eaten cold as a snack. [AM]
  ...a package of onion-flavored potato chips.(in BRIT, use crisps)
3) N-COUNT A silicon chip is a very small piece of silicon with electronic circuits on it which is part of a computer or other piece of machinery.
4) N-COUNT: oft supp N A chip is a small piece of something or a small piece which has been broken off something.
  It contains real chocolate chips...
  He was burning wood chips to make charcoal...
  Teichler's eyes gleamed like chips of blue glass.
5) N-COUNT A chip in something such as a piece of china or furniture is where a small piece has been broken off it.
  The washbasin had a small chip.
6) V-ERG If you chip something or if it chips, a small piece is broken off it.
  [V n] The blow chipped the woman's tooth...
  Steel baths are lighter but chip easily.
  Derived words:
  chipped ADJ-GRADED The wagon's paint was badly chipped on the outside... They drank out of chipped mugs.
7) N-COUNT: usu pl Chips are plastic counters used in gambling to represent money.
  He put the pile of chips in the center of the table and drew a card.
8) N-COUNT In discussions between people or governments, a chip or a bargaining chip is something of value which one side holds, which can be exchanged for something they want from the other side.
  The information could be used as a bargaining chip to extract some parallel information from Britain...
  He was not expected to be released because he was considered a valuable chip in this game.
9) → See also blue chip
10) PHRASE: usu v-link PHR If you describe someone as a chip off the old block, you mean that they are just like one of their parents in character or behaviour.
  Her fifth child was born, a son who Sally at first thought was another chip off the old block.
11) PHRASE If you say that something happens when the chips are down, you mean it happens when a situation gets very difficult. [INFORMAL]
  When the chips are down, she's very tough.
12) PHRASE: Ns inflect, usu have/with PHR If you say that someone has a chip on their shoulder, you think that they feel inferior or that they believe they have been treated unfairly. [INFORMAL]
  He had this chip on his shoulder about my mum and dad thinking that they're better than him.
  Phrasal Verbs:
  - chip away at
  - chip in

Merriam-Webster's Advanced Learner's Dictionary

¹chip /ˈʧɪp/ noun, pl chips [count]
1 : a small piece that has been broken off from something larger
• wood chips
• chips of stone
2 : a place where a small piece of something has broken off
• The cup has a chip in/on it.
3 : a small piece of candy or chocolate used in baking
• chocolate chips
• chocolate chip cookies [=cookies with small bits of chocolate in them]
4 a : a thin, hard, and usually salty piece of food
• tortilla chips especially; US : potato chip
• a bag of chips
- see also corn chip
b Brit : french fry
- see also fish and chips
5 : a small, flat, round piece of plastic that is used to represent an amount of money in gambling games like poker - see also bargaining chip
6 : a very small piece of hard material (called silicon) in a computer or other device that contains many electronic circuits
• computer/silicon chips
- see also microchip
7 US informal : a piece of dried waste matter from an animal
• buffalo/cow chips
8 : chip shot 1 2
chip off the old block informal : someone who looks or behaves like his or her parent
• His son is a real chip off the old block.
have a chip on your shoulder informal : to have an angry or unpleasant attitude or way of behaving caused by a belief that you have been treated unfairly in the past
• He has had a chip on his shoulder ever since he didn't get the promotion he was expecting.
let the chips fall where they may US informal : to allow events to happen without trying to change them
✦This phrase usually suggests that you are willing to accept a result, whatever it may be.
• I will run the best campaign I can, then let the chips fall where they may.
when the chips are down informal : in a difficult situation : when things are not good
• True friends will stand by you when the chips are down.