What it means
Chat is the imaginary live audience you address out loud, the way a streamer talks to the comments. Asking chat, are we cooked? turns any room into a livestream and your friends into the viewers.
Usage examples
"Chat, is this real life right now?"
"We lost the keys again, chat, what do we do."
"Chat, be serious, did he really just say that with his whole chest?"
"I dropped my chips on the pavement, chat, is the night finished?"
Where it comes from
It comes straight from livestream culture, where creators constantly address the scrolling viewer chat sitting beside the video. That on-screen noun got pulled into spoken slang in the 2010s and 2020s, especially through Twitch and meme-heavy online spaces, till people started saying chat out loud to joke that real life is basically a stream.
This expression also appears in