With interest rates and inflation running high, it's perhaps never been more important to hold stocks that pay not just dividends, but rising dividends.

Given the beating the broader semiconductor sector has taken, a great opportunity has opened up in two defensive chip names that should not only survive any downturn, but actually grow their dividends through it, leading to years of rising passive income for their investors.

Texas Instruments (NASDAQ: TXN) has some of the more compelling characteristics for the defensive dividend investor. The company designs and manufactures a large portfolio of analog and embedded chips, with a diverse customer base and structurally low manufacturing costs, ensuring high margins.

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Source Fool.com