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Intel is founded, July 18, 1968

-July 18, 2014

Intel was founded on July 18, 1968, by semiconductor pioneers Robert Noyce and Gordon Moore who left Fairchild Semiconductor to do so.

Originally called “NM Electronics” for Noyce and Moore, the company purchased the rights to use the name “Intel,” short for Integrated Electronics, from a company called Intelco. The term “intel” already being associated with “intelligence” was a bonus.

Intel’s original business plan was written by Moore and consists of three very vague paragraphs. Though short, the paragraphs were enough to secure funding as venture capitalist Author Rock contributed $10,000 and raised the $2.5 million to get the company started. Rock became Intel’s first chairman.

Andy Grove, a vital member of the young company’s team, joined Intel as its first hire soon after the  founding (see photo above with Grove, Noyce, and Moore from 1978). With Grove on board, Intel released its first product in 1969, the 3101 Schottky bipolar RAM and launches MOS static RAM.

A $6.8 million IPO (initial public offering) moved the company along in 1971, with Intel public at $23.50 a share.

Intel became a household name with its 1991 "Intel Inside" ad campaign, which involved commercials and a logo that told consumers which computers had Intel processors. In 2005 Apple announced that it would transition to the Intel x86 architecture, which began a partnership that would put Intel processors in new Macs for years to come.

The continuous series of company milestones and technology advancements made by Intel since its founding are too great to list in this blog post. However, a timeline can be found on Intel’s web site, here.

As of 2013, Intel had 107,600 employees worldwide, 55% of which were in the US. The company had a 2013 revenue of about $53 billion.

Also see:

For more moments in tech history, see this blog
EDN strives to be historically accurate with these postings. Should you see an error, please notify us.

Editor's note: This article was originally posted on July 18, 2012 and edited on July 18, 2014.

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