Another Giant is Born:

The Founding of Intel

Robert Noyce and Gordon Moore had done well for themselves at Fairchild Semiconductor.  Noyce had become general manager, and Moore was head of Research and Development.  But the company was still under the ownership of Fairchild Camera and Instrument, and the board there wasn't handling the semiconductor company as Noyce and Moore would have liked -- they were diverting a lot of the profits outside the semiconductor industry.

The two men had left Shockley Semiconductor and helped to found Fairchild; they figured they could do it again. They resigned from Fairchild, and in July of 1968 -- putting up $250,000 apiece and getting another $2.5 million in investments -- they started a new company named Intel, short for Integrated Electronics.

Intel set about making memory chips, and within three years had invented the very first microprocessor. Today it is a multi-billion dollar company.

-- Intel -- Crystal Fire by Michael Riordan and Lillian Hoddeson  
-- Wolfe, Tom. "The Tinkerings of Robert Noyce: How the Sun Rose on Silicon Valley"  Esquire. December 1993, pp 346-374

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