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The European Processor Initiative (EPI), established under Horizon 2020, aims to develop European-made processors for high-performance computing (HPC). EPI has transitioned through stages SGA1 and SGA2, with key developments including the successful manufacturing of the EPAC Accelerator chip in 2023 and the upcoming Rhea1 processor, to be sampled in 2026. The initiative supports European technological sovereignty and aims to integrate its technologies into supercomputers like JUPITER and Alice Recoque, enhancing Europe's HPC capabilities.