Intel, the world's largest chip maker, said Monday that it has built fully functional 70-megabit static random access memory (SRAM) chips with more than half a billion transistors using 65 nanometer (nm) process technology.

"The achievement extends Intel's effort to drive the development of new manufacturing process technology every two years, in accordance with Moore's Law," Intel said in a statement.

The transistors in the new 65nm technology have gates, the switch that turns a transistor on and off, measuring 35nm, approximately 30 percent smaller than the gate lengths on the previous 90nm technology, according to Intel.

A nanometer is one-billionth of a meter. Sixty-five nanometer (nm) process technology is now the most advanced in the world.

Intel said the new process technology increases the number of tiny transistors squeezed onto a single chip, giving the company the foundation on which to deliver future multi-core processors and to design new features into future products, including virtualization and security capabilities.

Intel said its new 65nm process technology also includes several unique power-saving and performance-enhancing features.