Intel is founded, July 18, 1968
In 1968, EDN was in its 12th year. What else was happening in 1968?:
Read all of our coverage of EDN's 60th anniversary here.
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 Arthur 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 64-bit Schottky bipolar RAM, soon also launching denser MOS SRAM & DRAM.
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 Macs to this day.
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 2014, Intel had 106,700 employees worldwide, and an annual revenue of about $56 billion.
- Noyce conceives planar IC, January 23, 1959
- Noyce receives 1st IC patent, April 25, 1961
- Semiconductors in their early days
- Intel Bets Future On Moore's Law
- SSDs: mind-blowing Moore's law case studies
- Andy Grove, Gordon Moore, other engineers honored by National Inventors Hall of Fame
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, 2017.