The term CHIP INITIAL is composed of four words: INTEL (5 letters), FRITO (5 letters), NACHO (5 letters), and ANTE (4 letters). INTEL is a multinational technology company that designs, manufactures, and sells computer hardware and software. FRITO is a brand of corn chips created in 1932 by Charles Elmer Doolin. NACHO is a Mexican dish made with melted cheese, jalapenos, and tortilla chips. ANTE is a poker term meaning a forced bet made before the cards are dealt.