The European Union is planning to launch a €1 billion project to develop an exascale supercomputer by 2023. The EU hopes the machine will be the world's fastest but it faces a challenge from China.
China has announced that its first exascale supercomputer, which will be eight times faster than the Sunway TaihuLight, will be ready by June 2018. China came first place in the 2017 TOP500 list.
China wants to start working on an exascale prototype supercomputer this year. Being at least ten times more powerful than today's top performer, the exascale device won't be operational until 2020.