Computerworld: In the race to build an exascale computing system--one capable of 1,000 trillion floating point calculations per second--Europe and China are spending far more than the U.S. The EU has announced that this year it will double the amount it spends on the effort to about $1.6 trillion. And experts believe China has even more funding. Meanwhile the U.S. Department of Energy requested $91 million for exascale computing projects and received $73.4 million for the fiscal 2012 budget. IDC analyst Earl Joseph called that level of funding "peanuts."
Exascale computers will be approximately 1,000 times faster than today's supercomputers.