Excerpt from The PC Pioneers
On this day in 1968 Intel, the microprocessor innovator, was incorporated.
When Robert Norton Noyce and Gordon E Moore, plus six colleagues, left Shockley they went on to create the second electronic stepping stone – the integrated circuit. In 1957 it was Sherman Fairchild, yes, the same Fairchild significant in the aircraft business, who would fund this team of eight with its $1.3m start-up requirement – and Fairchild Semiconductor was born.
But when Fairchild looked to appoint a new CEO without considering Noyce for the role, he and Moore decided that they should leave.In July 1968 they rapidly raised $2.5m based upon just a single-page business plan document; well, their track record did speak for itself. They co-founded NM Electronics (for Noyce and Moore) but a year later it was renamed Intel Corporation, a name derived from Integrated Electronics.
It was Intel that brought about the development of the single-chip microprocessor.