Sandia and Oak Ridge national laboratories have established the Institute for Advanced Architectures to work toward computers that are a million times faster than todays supercomputers.
“An exaflop is a thousand times faster than a petaflop, itself a thousand times faster than a teraflop. Teraflop computers â€”the first was developed 10 years ago at Sandia â€” currently are the state of the art. They do trillions of calculations a second. Exaflop computers would perform a million trillion calculations per second.” (link)
Initial funding of $7.4M is provided by congressional mandate from the National Nuclear Security Administration and the Department of Energyâ€™s Office of Science.