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Moore's Law describes an important trend in the history of computer hardware: that the number of transistors that can be inexpensively placed on an integrated circuit is increasing exponentially, doubling approximately every two years.
The origins of Moore's Law came from a speech made famous by Gordon Moore, who later became the founder of Intel in 1965. He observed that the number of micro-components that could be placed in an integrated circuit (microchip) of the lowest manufacturing cost was doubling every year and that this trend would likely continue into the future. This later started to be known as Moore's Law. It was later determined that they would double every 2 years.