Intel, which is known for religiously believing in Moore’s Law has started doubting Gordon E. Moore’s iconic proposition about chip miniaturisation, saying that the cycle is now two and a half years rather than two.

Speaking at an analyst conference after posting better that expected quarter, Intel CEO Brian Krzanich said, the company’s innovation has "disproved the death of Moore’s Law many times over."

In April 1965 paper, Gordon Moore had predicted that chip makers would double the number of components per integrated circuit every year, projecting the pace of the chip miniaturisation.

He however revised the forecast, doubling time to two years in 1975 after moving from Fairchild Semiconductor.

Predicting further delay to the miniaturalisation cycle Krzanich said: "The last two technology transitions have signalled that our cadence today is closer to two and a half years than two.

The company has also delayed mass production of central processing units using 10nm fabrication process to 2017.

Intel said due to difficulties with its 10nm technology it decided to increase the life-cycle of 14nm process with a third product, code-named Kaby Lake.

The third 14nm product will be built on the foundations of the Skylake micro-architecture with key performance improvements.

Intel plans to start production of its the first 10nm processor, code-named Cannonlake, in the second half of 2017.

Intel CEO Brian Krzanich said: "On all of these technologies, each one has its own recipe of complexity and difficulty.

The company’s transition from the 22nm node to the current 14nm node was also delayed due to manufacturing problems.

"The lithography is continuing to get more difficult as you try and scale and the number of multipattern steps you have to do is increasing. This is the longest period of time without a lithography node change."

Last week, IBM revealed the first 7nm node test chips with functioning transistors. The chips will play a crucial role in realising the potential of future cloud computing and Big Data systems

Part of IBM’s $3bn, five-year investment in chip R&D, the accomplishment was made possible through a public-private partnership with New York State and joint development alliance with GLOBALFOUNDRIES, Samsung, and equipment suppliers.