A memory circuit includes a number (X) of multiply-accumulate (MAC) circuits that are dynamically configurable. The MAC circuits can either compute an output based on computations of X elements of the input vector with the weight vector, or to compute the output based on computations of a single element of the input vector with the weight vector, with each element having a one bit or multibit length. A first memory can hold the input vector having a width of X elements and a second memory can store the weight vector. The MAC circuits include a MAC array on chip with the first memory.