From Altera Corporation

Floating-point processing utilizes a format defined in IEEE 754, and is supported by microprocessor architectures. However, the IEEE 754 format is inefficient to implement in hardware, and floating-point processing is not supported in VHDL or Verilog. Newer versions, such as SystemVerilog, allow floating-point variables, but industry-standard synthesis tools do not support floating-point technology.
This paper describes a new approach which efficiently implements floating-point data processing in hardware architectures, specifically FPGAs. This allows for extremely high rates of floating-point processing, of at least 1 TeraFLOPS in a single FPGA die, and with significantly better power efficiency than the microprocessor-based alternatives.

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