Happy 44th Birthday, Intel
Intel was founded 44 years ago today by physicists Gordon Moore and Robert Noyce and venture capitalist Arthur Rock.
Moore and Noyce had left Fairchild Semiconductor to start Intel. Rock was not an employee but he did become chairman of the board.
According to Wikipedia, the total initial investment in Intel was $2.5 million in convertible debentures and $10,000 from Rock.
Intel’s IPO two years later opened at $23.50 per share, generating $6.8 million in capital.
Now, 44 years later, shares are trading at $26.21, but there are a lot more of them.
Intel yesterday reported net income for the third quarter alone of $3.5 billion, and the company has a cash and investment reserve estimated at over $15 billion.
Happy birthday, indeed.