To enhance beyond stock or original performance levels via software or digital equipment means.
I chipped out my Rinnai tankless hot water heater to go from 120F to 185F.

I chipped out my F-250 Power Stroke to turn 550hp and 975ft lbs of torque.
by Zeke's Brewing October 11, 2013
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Eating too many chips or appetizers before dinner leaving little if any room for the entrée.
Don’t chip out. The entrée is coming soon.
Save some room for dinner, you’re going to chip out.
I chipped out.
I can't finish my dinner, I chipped out.
by fullandby November 4, 2010
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To claim your lowrider does something but only hops 15, 20, or 30 inches. not really doing much
by Sleepy_619 August 11, 2008
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