Systems, apparatuses, and methods implementing a hybrid matrix multiplication pipeline are disclosed. A hybrid matrix multiplication pipeline is able to execute a plurality of different types of instructions in a plurality of different formats by reusing execution circuitry in an efficient manner. For a first type of instruction for source operand elements of a first size, the pipeline uses N multipliers to perform N multiplication operations on N different sets of operands, where N is a positive integer greater than one. For a second type of instruction for source operand elements of a second size, the N multipliers work in combination to perform a single multiplication operation on a single set of operands, where the second size is greater than the first size. The pipeline also shifts element product results in an efficient manner when implementing a dot product operation.