diff --git a/mlx/backend/cuda/allocator.cpp b/mlx/backend/cuda/allocator.cpp
index 5f8ecd715b..13638c1afa 100644
--- a/mlx/backend/cuda/allocator.cpp
+++ b/mlx/backend/cuda/allocator.cpp
@@ -20,6 +20,19 @@ constexpr int page_size = 16384;
 // Any allocations smaller than this will try to use the small pool
 constexpr int small_block_size = 8;
 
+#if CUDART_VERSION >= 13000
+inline cudaMemLocation cuda_mem_loc(int i) {
+  cudaMemLocation loc;
+  loc.type = cudaMemLocationTypeDevice;
+  loc.id = i;
+  return loc;
+}
+#else
+inline int cuda_mem_loc(int i) {
+  return i;
+}
+#endif // CUDART_VERSION >= 13000
+
 // The small pool size in bytes. This should be a multiple of the host page
 // size and small_block_size.
 constexpr int small_pool_size = 4 * page_size;
@@ -35,13 +48,7 @@ SmallSizePool::SmallSizePool() {
   int device_count = 0;
   CHECK_CUDA_ERROR(cudaGetDeviceCount(&device_count));
   for (int i = 0; i < device_count; ++i) {
-#if CUDART_VERSION >= 13000
-    cudaMemLocation loc;
-    loc.type = cudaMemLocationTypeDevice;
-    loc.id = i;
-#else
-    int loc = i;
-#endif // CUDART_VERSION >= 13000
+    auto loc = cuda_mem_loc(i);
     CHECK_CUDA_ERROR(
         cudaMemAdvise(data_, small_pool_size, cudaMemAdviseSetAccessedBy, loc));
   }
@@ -90,9 +97,10 @@ CudaAllocator::CudaAllocator()
           page_size,
           [](CudaBuffer* buf) { return buf->size; },
           [this](CudaBuffer* buf) { cuda_free(buf); }) {
-  size_t free, total;
-  CHECK_CUDA_ERROR(cudaMemGetInfo(&free, &total));
-  memory_limit_ = total * 0.9;
+  size_t free;
+  CHECK_CUDA_ERROR(cudaMemGetInfo(&free, &total_memory_));
+  memory_limit_ = total_memory_ * 0.95;
+  free_limit_ = total_memory_ - memory_limit_;
   max_pool_size_ = memory_limit_;
 
   int device_count = 0;
@@ -104,6 +112,10 @@ CudaAllocator::CudaAllocator()
     cudaStream_t s;
     CHECK_CUDA_ERROR(cudaStreamCreateWithFlags(&s, cudaStreamNonBlocking));
     free_streams_.push_back(s);
+
+    cudaMemPool_t mem_pool;
+    CHECK_CUDA_ERROR(cudaDeviceGetDefaultMemPool(&mem_pool, i));
+    mem_pools_.push_back(mem_pool);
   }
   CHECK_CUDA_ERROR(cudaSetDevice(curr));
 }
@@ -154,7 +166,6 @@ CudaAllocator::malloc_async(size_t size, int device, cudaStream_t stream) {
     }
     lock.unlock();
     if (!buf) {
-      cudaError_t err;
       void* data = nullptr;
       if (device == -1) {
         CHECK_CUDA_ERROR(cudaMallocManaged(&data, size));
@@ -169,6 +180,21 @@ CudaAllocator::malloc_async(size_t size, int device, cudaStream_t stream) {
       buf = new CudaBuffer{data, size, device};
     }
     lock.lock();
+
+    // If any cuda memory pool has too much reserved memory, clear some
+    // memory from the cache. This prevents graph / kernel execution failing
+    // from OOM
+    if (get_cache_memory() > 0) {
+      for (auto p : mem_pools_) {
+        size_t used = 0;
+        CHECK_CUDA_ERROR(cudaMemPoolGetAttribute(
+            p, cudaMemPoolAttrReservedMemCurrent, &used));
+        if (used > (total_memory_ - free_limit_)) {
+          buffer_cache_.release_cached_buffers(free_limit_);
+          break;
+        }
+      }
+    }
   }
   active_memory_ += buf->size;
   peak_memory_ = std::max(active_memory_, peak_memory_);
diff --git a/mlx/backend/cuda/allocator.h b/mlx/backend/cuda/allocator.h
index 133d4f8525..7f6ad52549 100644
--- a/mlx/backend/cuda/allocator.h
+++ b/mlx/backend/cuda/allocator.h
@@ -71,11 +71,14 @@ class CudaAllocator : public allocator::Allocator {
 
   std::mutex mutex_;
   size_t memory_limit_;
+  size_t free_limit_;
+  size_t total_memory_;
   size_t max_pool_size_;
   BufferCache<CudaBuffer> buffer_cache_;
   size_t active_memory_{0};
   size_t peak_memory_{0};
   std::vector<cudaStream_t> free_streams_;
+  std::vector<cudaMemPool_t> mem_pools_;
   SmallSizePool scalar_pool_;
 };