Burroughs famously had an Algol in Equipment (see B5500) .
Less well known is Burroughs beautiful B1700 , which allows each process to determine the microcode for interpreting the HLL that is used in the process code. Thus, each process can have a different set of HLL instructions; hardware switchable microcodes on a context switch.
A lesson from the RISC world is that it is more economical (and you get a wider market) to create the usual set of instructions and compile the code for your language prior to these instructions. DEC VAX tried to get language specific instructions; it turned out to be faster to use more conventional VAX instructions instead of specific ones.
If you insist, it is probably relatively easy to implement the HLL instruction set using FPGA. (I can imagine that this is a graduate student in the design class of EE). It simply will not be competitive in performance with x86 or another modern RISC chip.
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