I stumbled across this paper describing a language that aims to do that. For some reason I was not that excited by the matrix multiplication use case, mainly because that is not the kind of application I'm interested in. I'd like to see examples of stuff a lot of cycles are burnt on in "web" data centers.

But I would like to see more work along these lines -- pointers appreciated.

http://sequoia.stanford.edu/

http://scholar.google.com/scholar?cluster=170564211168157303...