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Are you targeting Stratix V or Arria 10? Since the DSPs in Stratix V do not natively support floating-point operations, these operations will consume a lot of on-chip memory and logic. That could explain part of your problem. You can alleviate this issue by adding --fpc and --fp-relaxed to the kernel compilation options which can greatly reduce your area utilization at the cost of some loss in accuracy.
If you are using Arria 10, do not rely on the compiler's memory and logic estimation; at least for me, it is always off by up to 50%. Your kernel might actually fit as it is if you are targeting Arria 10.
Make sure you perform all mathematical operations that are done only once per kernel invocation, on the host, and instead pass the output to the kernel.
At the end of the day, if all else fails, you can still split your computation into two or more kernels, and call and compute the kernels sequentially while reconfiguring the FPGA in-between for each new kernel. As long as your run time is high enough, the reconfiguration overhead will be negligible.
Regarding "Memory Blocks", that shows the number of Block RAMs on the FPGA with at least one used port. Each block has two ports and to support multiple parallel accesses to the same on-chip buffers, the compiler has to replicate such buffers onto multiple Block RAMs to obtain enough ports for supporting all the accesses without stalling. Because of this, in many cases, you will actually run out of ports (Memory blocks) sooner than you run out of memory space (Memory bits).
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I am targeting Stratix V. Are you sure it doesn't support natively floating point operations?
I have tried adding those two options when compiling but the estimated values did not change. Should I just let it compile and see?
Also does what you said about Block RAMs mean that if I reduce the number of buffers I will save on ports?
Thanks for your help