Yes, chips is a Scrabble word!

Verb

1. Break off (a piece from a whole)

2. Cut a nick into

3. Play a chip shot

4. Form by chipping

5. Break a small piece off from

Noun

1. Strips of potato fried in deep fat

2. A small fragment of something broken off from the whole

3. A triangular wooden float attached to the end of a log line

4. A piece of dried bovine dung

5. A thin crisp slice of potato fried in deep fat

6. A mark left after a small piece has been chopped or broken off of something

7. A small disk-shaped counter used to represent money when gambling

8. Electronic equipment consisting of a small crystal of a silicon semiconductor fabricated to carry out a number of electronic functions in an integrated circuit

9. (golf) a low running approach shot

10. The act of chipping something