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A motherboard's basic purpose is to connect all the different components of your computer. A chipset (literally a set of microchips and associated software) controls how the components talk to each other, and use shared resources. Imagine: You have a main processor, some memory, a hard disk, a graphics card, and a DVD drive, and all the things that do good things in a computer. The motherboard is the thing that all of those plug into. The chipset sits there and does bits of work to coordinate it all, and push the data around from one device to another.
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