A microchip, or integrated circuit, is a miniaturized electronic circuit that is used in almost all electronic equipment in use today.
Whirlwind and Dreadknight once broke into the Iron Man Armory looking for a specific microchip. They succeeded and burned the place down so that Tony Stark would not realize anything was missing. Whirlwind gave the microchip to Mandarin who put it in his own device. The chip was used to activate a Bio-Conversion Device aboard the Russian submarine Prometheus.