diff --git a/qa/L0_pytorch_unittest/test.sh b/qa/L0_pytorch_unittest/test.sh
index b3b6ccacac7..457fb5b798d 100644
--- a/qa/L0_pytorch_unittest/test.sh
+++ b/qa/L0_pytorch_unittest/test.sh
@@ -31,6 +31,7 @@ pip3 install pytest==8.2.1 || error_exit "Failed to install pytest"
 
 python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_optional_flash_attn_import.xml $TE_PATH/tests/pytorch/test_optional_flash_attn_import.py || test_fail "test_optional_flash_attn_import.py"
 NVTE_GROUPED_LINEAR_SINGLE_PARAM=1 python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_sanity.xml $TE_PATH/tests/pytorch/test_sanity.py || test_fail "test_sanity.py"
+python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_gemm_workspace.xml $TE_PATH/tests/pytorch/test_gemm_workspace.py || test_fail "test_gemm_workspace.py"
 python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_recipe.xml $TE_PATH/tests/pytorch/test_recipe.py || test_fail "test_recipe.py"
 python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_custom_recipe.xml $TE_PATH/tests/pytorch/test_custom_recipe.py || test_fail "test_custom_recipe.py"
 python3 -m pytest --tb=auto --junitxml=$XML_LOG_DIR/pytest_test_deferred_init.xml $TE_PATH/tests/pytorch/test_deferred_init.py || test_fail "test_deferred_init.py"
diff --git a/tests/pytorch/test_gemm_workspace.py b/tests/pytorch/test_gemm_workspace.py
new file mode 100644
index 00000000000..28e265c696e
--- /dev/null
+++ b/tests/pytorch/test_gemm_workspace.py
@@ -0,0 +1,55 @@
+# Copyright (c) 2022-2026, NVIDIA CORPORATION & AFFILIATES. All rights reserved.
+#
+# See LICENSE for license information.
+
+"""cuBLAS workspace ownership and numerical checks for independent CUDA streams."""
+
+import pytest
+import torch
+
+from transformer_engine.pytorch.cpp_extensions.gemm import general_gemm, get_cublas_workspace
+
+
+@pytest.mark.parametrize("ub,grouped_gemm", [(False, False), (True, False), (False, True)])
+def test_workspace_is_reused_only_on_its_stream(ub, grouped_gemm):
+    """A workspace remains reusable without aliasing another stream's active scratch."""
+    device = torch.cuda.current_device()
+    streams = [torch.cuda.Stream(), torch.cuda.Stream()]
+    workspaces = []
+    for stream in streams:
+        with torch.cuda.stream(stream):
+            first = get_cublas_workspace(device, ub, grouped_gemm)
+            assert get_cublas_workspace(device, ub, grouped_gemm) is first
+            workspaces.append(first if grouped_gemm else [first])
+    assert len(workspaces[0]) == len(workspaces[1])
+    assert {w.data_ptr() for w in workspaces[0]}.isdisjoint(w.data_ptr() for w in workspaces[1])
+
+
+@pytest.mark.parametrize("dtype", [torch.float32, torch.bfloat16])
+def test_concurrent_gemms_match_exact_reference(dtype):
+    """Large reductions exercise cuBLAS algorithms that use scratch for partial sums."""
+    streams = [torch.cuda.Stream(), torch.cuda.Stream()]
+    reduction, hidden, experts = 16384, 4096, 128
+    inputs = [
+        torch.full((reduction, hidden), value, dtype=dtype, device="cuda") for value in (1.0, 2.0)
+    ]
+    gradients = [
+        torch.full((reduction, experts), value, dtype=dtype, device="cuda") for value in (1.0, 3.0)
+    ]
+    ready = torch.cuda.Event()
+    ready.record()
+    for stream in streams:
+        stream.wait_event(ready)
+
+    outputs = []
+    for _ in range(8):
+        for stream, inp, grad in zip(streams, inputs, gradients):
+            with torch.cuda.stream(stream):
+                out, *_ = general_gemm(inp, grad, dtype, layout="NT", grad=True)
+                outputs.append(out)
+    for stream in streams:
+        stream.synchronize()
+    # Both operands and the result are exactly representable in either dtype.
+    for index, out in enumerate(outputs):
+        expected = torch.full_like(out, reduction * (1 if index % 2 == 0 else 6))
+        torch.testing.assert_close(out, expected, rtol=0, atol=0)
diff --git a/transformer_engine/pytorch/cpp_extensions/gemm.py b/transformer_engine/pytorch/cpp_extensions/gemm.py
index 6939847c8dc..56f23b872f5 100644
--- a/transformer_engine/pytorch/cpp_extensions/gemm.py
+++ b/transformer_engine/pytorch/cpp_extensions/gemm.py
@@ -48,9 +48,17 @@ def get_cublas_workspace_size_bytes() -> None:
     return 4_194_304
 
 
-@functools.lru_cache(maxsize=None)
 def get_cublas_workspace(device: int, ub: bool, grouped_gemm: bool) -> torch.Tensor:
-    """Returns workspace for cublas GEMM."""
+    """Returns workspace for cublas GEMM on the current CUDA stream."""
+    stream = torch.cuda.current_stream(device).cuda_stream
+    return _get_cublas_workspace_for_stream(device, ub, grouped_gemm, stream)
+
+
+@functools.lru_cache(maxsize=None)
+def _get_cublas_workspace_for_stream(
+    device: int, ub: bool, grouped_gemm: bool, _stream: int
+) -> torch.Tensor:
+    """Cache by stream so concurrent GEMMs do not overwrite each other's scratch space."""
     assert not (ub and grouped_gemm), "UB is unsupported for grouped GEMM."
 
     if ub: