Reducing hardware overhead of neural networks for faster or lower power inference and training is an active area of research. Uniform quantization using integer multiply-add has been thoroughly investigated, which requires learning many quantization parameters, fine-tuning training or other prerequisites. Little effort is made to improve floating point relative to this baseline; it remains energy inefficient, and word size reduction yields drastic loss in needed dynamic range. We improve floating point to be more energy efficient than equivalent bit width integer hardware on a 28 nm ASIC process while retaining accuracy in 8 bits with a novel hybrid log multiply/linear add, Kulisch accumulation and tapered encodings from Gustafson’s posit format. With no network retraining, and drop-in replacement of all math and float32 parameters via round-to-nearest-even only, this open-sourced 8-bit log float is within 0.9% top-1 and 0.2% top-5 accuracy of the original float32 ResNet-50 CNN model on ImageNet. Unlike int8 quantization, it is still a general purpose floating point arithmetic, interpretable out-of-the-box. Our 8/38-bit log float multiply-add is synthesized and power profiled at 28 nm at 0.96× the power and 1.12× the area of 8/32-bit integer multiply-add. In 16 bits, our log float multiply-add is 0.59× the power and 0.68× the area of IEEE 754 float16 fused multiply-add, maintaining the same signficand precision and dynamic range, proving useful for training ASICs as well.