Etymology: Middle English; akin to Old English -cippian
Date: 14th century
a. a small usually thin and flat piece (as of wood or stone) cut, struck, or flaked off
b. a small piece of food: as
(1) a small thin slice of food; especially potato chip
(2) french fry
(3) a small cone-shaped bit of food often used for baking <chocolate chips> 2. something small, worthless, or trivial 3. a. one of the counters used as a token for money in poker and other games b. plural money — used especially in the phrase in the chips c. something valuable that can be used for advantage in negotiation or trade <a bargaining chip> 4. a piece of dried dung — usually used in combination <cow chip> 5. a flaw left after a chip has been broken off 6. a. integrated circuit b. a small wafer of semiconductor material that forms the base for an integrated circuit 7. chip shot 1 II. verb (chipped; chipping) Etymology: Middle English chippen, from Old English -cippian (as in forcippian to cut off); akin to Old English cipp beam, Old High German chipfa stave Date: 15th century transitive verb 1. a. to cut or hew with an edged tool b. (1) to cut or break (a small piece) from something (2) to cut or break a fragment from <chip a tooth> (3) to cut into chips <chip a tree stump> 2. British chaff, banter 3. to hit (a return in tennis) with backspin intransitive verb 1. to break off in small pieces 2. to play a chip shot
New Collegiate Dictionary. 2001.