Embodiments of the present disclosure include systems and methods for providing hierarchical and shared exponent floating point data types. First and second shared exponent values are determined based on exponent values of a plurality of floating point values. A third shared exponent value is determined based the first shared exponent value and the second shared exponent value. First and second difference values are determined based on the first shared exponent value, the second shared exponent value, and the third shared exponent value. Sign values and mantissa values are determined for the plurality of floating point values. The sign value and the mantissa value for each floating point value in the plurality of floating point values, the third shared exponent value, the first difference value, and the second difference value are stored in a data structure for a shared exponent floating point data type.