This study introduces a novel transformer model optimized for large-scale point cloud processing in scientific domains such as high-energy physics (HEP) and astrophysics. Addressing the limitations of graph neural networks and standard transformers, our model integrates local inductive bias and achieves near-linear complexity with hardware-friendly regular operations. One contribution of this work is the quantitative analysis of the error-complexity tradeoff of various sparsification techniques for building efficient transformers. Our findings highlight the superiority of using locality-sensitive hashing (LSH), especially OR \& AND-construction LSH, in kernel approximation for large-scale point cloud data with local inductive bias. Based on this finding, we propose LSH-based Efficient Point Transformer (\textbf{HEPT}), which combines E$^2$LSH with OR \& AND constructions and is built upon regular computations. HEPT demonstrates remarkable performance in two critical yet time-consuming HEP tasks, significantly outperforming existing GNNs and transformers in accuracy and computational speed, marking a significant advancement in geometric deep learning and large-scale scientific data processing. Our code is available at \url{https://github.com/Graph-COM/HEPT}.
Emerging as fundamental building blocks for diverse artificial intelligence applications, foundation models have achieved notable success across natural language processing and many other domains. Parallelly, graph machine learning has witnessed a transformative shift, with shallow methods giving way to deep learning approaches. The emergence and homogenization capabilities of foundation models have piqued the interest of graph machine learning researchers, sparking discussions about developing the next graph learning paradigm that is pre-trained on broad graph data and can be adapted to a wide range of downstream graph tasks. However, there is currently no clear definition and systematic analysis for this type of work. In this article, we propose the concept of graph foundation models (GFMs), and provide the first comprehensive elucidation on their key characteristics and technologies. Following that, we categorize existing works towards GFMs into three categories based on their reliance on graph neural networks and large language models. Beyond providing a comprehensive overview of the current landscape of graph foundation models, this article also discusses potential research directions for this evolving field.