At our public school, probably 50-75 kids take Algebra I in 7th grade. It's not called that anymore with Common Core.
My 8th grader did that and did really well. He took a 5-week geometry class last summer at the community college, and his school skipped him into Algebra II as an 8th grader (Integrated Math 2). He should be able to take two full years of AP Calculus at the high school and then just enroll at our local 4-year university as a senior in high school for math.
He had to pass an algebra-readiness placement test to take Algebra 1 in 7th grade. He got a 93% and you had to get at least a 75%.
If a child couldn't pass an algebra readiness test, I wouldn't do it since the skills build on each other and it will just be frustrating.