In 1965, Gordon E. Moore, a cofounder of Intel Corporation, made an important observation about the evolution of computer chips.
Roughly paraphrased, Moore stated that the number of transistors manufacturers can cheaply embed on computer chips doubles every twelve months (he later revised the doubling time to 24 months).
As the passage of time proved him right, the increase in chip capacity
(and consequent decrease in cost) has become known as Moore’ law.
When Moore first made his prediction, commercial chips contained fewer than 100 transistors.
By 2007, the number had reached into the hundreds of millions!