That said, Intel have announced the emergency "Knights Mill" processor jammed into the roundmap between KNL and Knights Hill. It's specifically targeted at deep learning workloads and one might expect FP16 support. They had a bullet point suggesting 'variable' precision too. I would guess that means Williamson style variable fixed point. (I also guess that the Nervena "flexpoint" is a trademarked variant of it).
I assume the FPGA inference card supports fp16. And Lake Crest (the first Nervena chip sampling next year) will support flex point of course. I would expect subsequent Xeon / Lake Crest successor integrations to do the same.
Fun times..
Aside on the compiler work -- I think it's not that hard to emit this instruction at least for GEMM style kernels where it's relatively obvious.