Intel Corporation was founded on July 18, 1968, by semiconductor pioneers Robert Noyce and Gordon Moore (of Moore's law), and widely associated with the executive leadership and vision of Andrew Grove. The company's name was conceived as portmanteau of the words integrated and electronics, with co-founder Noyce having been a key inventor of the integrated circuit (microchip).

The fact that "intel" is the term for intelligence information also made the name appropriate. Intel was an early developer of SRAM and DRAM memory chips, which represented the majority of its business until 1981. Although Intel created the world's first commercial microprocessor chip in 1971, it was not until the success of the personal computer (PC) that this became its primary business.

Intel was founded in Mountain View, California, in 1968 by Gordon E. Moore (of "Moore's law" fame), a chemist, and Robert Noyce, a physicist and co-inventor of the integrated circuit. Arthur Rock (investor and venture capitalist) helped them find investors, while Max Palevsky was on the board from an early stage. Moore and Noyce had left Fairchild Semiconductor to found Intel. Rock was not an employee, but he was an investor and was chairman of the board. The total initial investment in Intel was $2.5 million convertible debentures and $10,000 from Rock. Just 2 years later, Intel became a public company via an initial public offering (IPO), raising $6.8 million ($23.50 per share). Intel's third employee was Andy Grove, a chemical engineer, who later ran the company through much of the 1980s and the high-growth 1990s.

According to wikipedia