Folk hero made chips with silicon, say (9)

I believe the answer is:

siegfried

I'm a little stuck... Click here to teach me more about this clue!

'folk hero' is the definition.
'siegfried' can be an answer for 'hero' (I've seen this before). I'm unsure of the 'folk' bit.

'chips with silicon say' is the wordplay.
'chips' becomes 'fried' (I can't justify this - if you can you should believe this answer much more).
'with' means one lot of letters go next to another.
'silicon' becomes 'Si' (chemical symbol).
'say' becomes 'eg' (both can mean for example).
'si'+'eg'='sieg'
'fried' after 'sieg' is 'SIEGFRIED'.

'made' acts as a link.

Can you help me to learn more?

(Other definitions for siegfried that I've seen before include "Wagnerian hero" , "Wagner opera" , "Defensive line Germans took" .)

I've seen this clue in The Guardian.

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