The Redstone Chipset is a component added by BuildCraft. While not usable itself, it is a basic component of the Basic Gate and furthermore a component of the Integration Table, Charging Table, Programming Table, Stamping Table and the Gate Copier.
Older BuildCraft versions
In older versions of BuildCraft the Redstone Chipsets can be combined with other materials to make more advanced sets. Also they can be used in a crafting table to turn an AND gate to an OR gate or vice versa.