A motherboard chipset is a crucial component of a computer's motherboard that manages data flow between the processor, memory, and other peripherals. It consists of two main parts: the northbridge, which connects the CPU to high-speed components like RAM and graphics cards, and the southbridge, which handles slower connections such as hard drives and USB ports. Chipsets determine the compatibility of the motherboard with various CPUs, memory types, and expansion slots. They also influence features like overclocking capabilities, the number of USB ports, and support for technologies such as PCIe and SATA. Understanding chipsets helps users choose the right motherboard for their needs.