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CHIPS (Cosmic Hot Interstellar Plasma Spectrometer, also called CHIPSat, see below) is a demonstration small satellite (it masses about 65 kg, a microsatellite), given the demonstration task of carrying out all-sky spectrography of extreme ultraviolet from interstellar medium (ISM) plasma within 300 light-years. It was number 82 of the NASA Explorers Program, and the first (and only one launched) of its sub-program UNEX (for University-Class Explorer program). It successfully demonstrated small satellite capabilities but its science experiment did no more than established that the signal was too weak for its detector. It was launched in 2003 as a secondary payload along with another satellite, and after its primary mission, was used as an EUV solar observatory. It was decommissioned in 2008 but still orbits.
The term ChipSat was more recently used for a c2019 Stanford University project deploying very small satellites of a few grams each, essentially each just a chip. Likely, the term chipsat is used generically for this general approach. Regarding the 2003 NASA mission, the mission name was CHIPS, and the term CHIPSat was coined for its physical satellite.