I don't think you'll ever make a chip not dissipate as heat the energy you feed into it for operation. Where else would it go?
OTOH some chips (amplifiers for example) may indeed have current flowing through them and therefore the power consumption of the “chip” would equal the sum of heat loss and output power. At least that’s my interpretation of the framing “how they operate at a fundamental level”. I could be wrong too, I’m not a working EE
roesel•1h ago