Gordon Moore and Robert Noyce found Intel in 1968
Moore obtained his PhD in physical chemistry in 1950 and shortly thereafter, began working for Shockley Semiconductor Laboratory in California. Noyce received his PhD in physics and in 1953, he began working the same Shockley Semiconductor Laboratory as Moore. After some time at Shockley, several of the researchers, including Moore and Noyce, decided to leave Shockley and found their own company. In 1957, they founded the Fairchild Semiconductor.
In 1968, Moore and Noyce were unhappy at Fairchild and decided to start their own company. With the help of Art Rock, who gave $2.5 million for them to start the company, they created their own company named “Intel,” which is short for Integrated Electronics. Since its creation, Intel has developed the world’s first single-chip microprocessor, the Intel 4004, and the Altair 8800 processor, which was the first to be used in people’s home computers. Most recently, Intel has developed the Pentium processors that are in about seventy-five percent of the new PC’s that are built today. Today, Intel has earned billions of dollars and continues to remain a sign of innovation from Moore and Noyce’s work.
Here is a link to a video of Gordon Moore talking about the invention of the microchip:
Sources:
http://www.evancarmichael.com/Famous-Entrepreneurs/1000/The-Men-Behind-the-Microchip-The-Early-Years-of-Intel-Founders-Robert-Noyce-and-Gordon-Moore.html 
That was really interesting. I had no idea that Intel stands for Integrated Electronics. I did my research about Bill Gates and Microsoft BASIC. It seems like the Altair 8800 was an extremely important part of computer history. That is where BASIC started as well!
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