A lot of claims have been made about the purported benefits of adding chopped carbon fiber to FDM filaments, but how many of these claims are actually true? In the case of PLA at least, the [I built a thing] channel on YouTube makes a convincing case that for PLA filament, the presence of chopped CF can be considered a contaminant that weakens the part.
Using the facilities of the University of Basel for its advanced imaging gear, the PLA-CF parts were subjected to both scanning electron microscope (SEM) and Micro CT imaging. The SEM images were performed on the fracture surfaces of parts that were snapped to see what this revealed about the internal structure. From this, it becomes apparent that the chopped fibers distribute themselves both inside and between the layers, with no significant adherence between the PLA polymer and the CF. There is also evidence for voids created by the presence of the CF.
It is still a texture modifier, but it is rather pointless in PLA otherwise.