diff --git a/arch/x86/include/asm/kvm-x86-ops.h b/arch/x86/include/asm/kvm-x86-ops.h
index 029c9615378f..34ad7a17458a 100644
--- a/arch/x86/include/asm/kvm-x86-ops.h
+++ b/arch/x86/include/asm/kvm-x86-ops.h
@@ -90,6 +90,7 @@ KVM_X86_OP_NULL(has_wbinvd_exit)
 KVM_X86_OP(get_l2_tsc_offset)
 KVM_X86_OP(get_l2_tsc_multiplier)
 KVM_X86_OP(write_tsc_offset)
+KVM_X86_OP(write_tsc_multiplier)
 KVM_X86_OP(get_exit_info)
 KVM_X86_OP(check_intercept)
 KVM_X86_OP(handle_exit_irqoff)
diff --git a/arch/x86/include/asm/kvm_host.h b/arch/x86/include/asm/kvm_host.h
index f099277b993d..a334ce7741ab 100644
--- a/arch/x86/include/asm/kvm_host.h
+++ b/arch/x86/include/asm/kvm_host.h
@@ -1308,6 +1308,7 @@ struct kvm_x86_ops {
 	u64 (*get_l2_tsc_offset)(struct kvm_vcpu *vcpu);
 	u64 (*get_l2_tsc_multiplier)(struct kvm_vcpu *vcpu);
 	void (*write_tsc_offset)(struct kvm_vcpu *vcpu, u64 offset);
+	void (*write_tsc_multiplier)(struct kvm_vcpu *vcpu, u64 multiplier);
 
 	/*
 	 * Retrieve somewhat arbitrary exit information.  Intended to be used
diff --git a/arch/x86/kvm/svm/svm.c b/arch/x86/kvm/svm/svm.c
index 8dfb2513b72a..cb701b42b08b 100644
--- a/arch/x86/kvm/svm/svm.c
+++ b/arch/x86/kvm/svm/svm.c
@@ -1103,6 +1103,11 @@ static void svm_write_tsc_offset(struct kvm_vcpu *vcpu, u64 offset)
 	vmcb_mark_dirty(svm->vmcb, VMCB_INTERCEPTS);
 }
 
+static void svm_write_tsc_multiplier(struct kvm_vcpu *vcpu, u64 multiplier)
+{
+	wrmsrl(MSR_AMD64_TSC_RATIO, multiplier);
+}
+
 /* Evaluate instruction intercepts that depend on guest CPUID features. */
 static void svm_recalc_instruction_intercepts(struct kvm_vcpu *vcpu,
 					      struct vcpu_svm *svm)
@@ -4528,6 +4533,7 @@ static struct kvm_x86_ops svm_x86_ops __initdata = {
 	.get_l2_tsc_offset = svm_get_l2_tsc_offset,
 	.get_l2_tsc_multiplier = svm_get_l2_tsc_multiplier,
 	.write_tsc_offset = svm_write_tsc_offset,
+	.write_tsc_multiplier = svm_write_tsc_multiplier,
 
 	.load_mmu_pgd = svm_load_mmu_pgd,
 
diff --git a/arch/x86/kvm/vmx/nested.c b/arch/x86/kvm/vmx/nested.c
index 6058a65a6ede..239154d3e4e7 100644
--- a/arch/x86/kvm/vmx/nested.c
+++ b/arch/x86/kvm/vmx/nested.c
@@ -2533,9 +2533,8 @@ static int prepare_vmcs02(struct kvm_vcpu *vcpu, struct vmcs12 *vmcs12,
 	}
 
 	vmcs_write64(TSC_OFFSET, vcpu->arch.tsc_offset);
-
 	if (kvm_has_tsc_control)
-		decache_tsc_multiplier(vmx);
+		vmcs_write64(TSC_MULTIPLIER, vcpu->arch.tsc_scaling_ratio);
 
 	nested_vmx_transition_tlb_flush(vcpu, vmcs12, true);
 
@@ -4501,12 +4500,12 @@ void nested_vmx_vmexit(struct kvm_vcpu *vcpu, u32 vm_exit_reason,
 	vmcs_write32(VM_EXIT_MSR_LOAD_COUNT, vmx->msr_autoload.host.nr);
 	vmcs_write32(VM_ENTRY_MSR_LOAD_COUNT, vmx->msr_autoload.guest.nr);
 	vmcs_write64(TSC_OFFSET, vcpu->arch.tsc_offset);
+	if (kvm_has_tsc_control)
+		vmcs_write64(TSC_MULTIPLIER, vcpu->arch.tsc_scaling_ratio);
+
 	if (vmx->nested.l1_tpr_threshold != -1)
 		vmcs_write32(TPR_THRESHOLD, vmx->nested.l1_tpr_threshold);
 
-	if (kvm_has_tsc_control)
-		decache_tsc_multiplier(vmx);
-
 	if (vmx->nested.change_vmcs01_virtual_apic_mode) {
 		vmx->nested.change_vmcs01_virtual_apic_mode = false;
 		vmx_set_virtual_apic_mode(vcpu);
diff --git a/arch/x86/kvm/vmx/vmx.c b/arch/x86/kvm/vmx/vmx.c
index 4b70431c2edd..bf845a08995e 100644
--- a/arch/x86/kvm/vmx/vmx.c
+++ b/arch/x86/kvm/vmx/vmx.c
@@ -1390,11 +1390,6 @@ void vmx_vcpu_load_vmcs(struct kvm_vcpu *vcpu, int cpu,
 
 		vmx->loaded_vmcs->cpu = cpu;
 	}
-
-	/* Setup TSC multiplier */
-	if (kvm_has_tsc_control &&
-	    vmx->current_tsc_ratio != vcpu->arch.tsc_scaling_ratio)
-		decache_tsc_multiplier(vmx);
 }
 
 /*
@@ -1813,6 +1808,11 @@ static void vmx_write_tsc_offset(struct kvm_vcpu *vcpu, u64 offset)
 	vmcs_write64(TSC_OFFSET, offset);
 }
 
+static void vmx_write_tsc_multiplier(struct kvm_vcpu *vcpu, u64 multiplier)
+{
+	vmcs_write64(TSC_MULTIPLIER, multiplier);
+}
+
 /*
  * nested_vmx_allowed() checks whether a guest should be allowed to use VMX
  * instructions and MSRs (i.e., nested VMX). Nested VMX is disabled for
@@ -7707,6 +7707,7 @@ static struct kvm_x86_ops vmx_x86_ops __initdata = {
 	.get_l2_tsc_offset = vmx_get_l2_tsc_offset,
 	.get_l2_tsc_multiplier = vmx_get_l2_tsc_multiplier,
 	.write_tsc_offset = vmx_write_tsc_offset,
+	.write_tsc_multiplier = vmx_write_tsc_multiplier,
 
 	.load_mmu_pgd = vmx_load_mmu_pgd,
 
diff --git a/arch/x86/kvm/vmx/vmx.h b/arch/x86/kvm/vmx/vmx.h
index aa97c82e3451..3eaa86a0ba3e 100644
--- a/arch/x86/kvm/vmx/vmx.h
+++ b/arch/x86/kvm/vmx/vmx.h
@@ -322,8 +322,6 @@ struct vcpu_vmx {
 	/* apic deadline value in host tsc */
 	u64 hv_deadline_tsc;
 
-	u64 current_tsc_ratio;
-
 	unsigned long host_debugctlmsr;
 
 	/*
@@ -532,12 +530,6 @@ static inline struct vmcs *alloc_vmcs(bool shadow)
 			      GFP_KERNEL_ACCOUNT);
 }
 
-static inline void decache_tsc_multiplier(struct vcpu_vmx *vmx)
-{
-	vmx->current_tsc_ratio = vmx->vcpu.arch.tsc_scaling_ratio;
-	vmcs_write64(TSC_MULTIPLIER, vmx->current_tsc_ratio);
-}
-
 static inline bool vmx_has_waitpkg(struct vcpu_vmx *vmx)
 {
 	return vmx->secondary_exec_control &
diff --git a/arch/x86/kvm/x86.c b/arch/x86/kvm/x86.c
index 801fa1e8e915..c1e14dadad2d 100644
--- a/arch/x86/kvm/x86.c
+++ b/arch/x86/kvm/x86.c
@@ -2179,14 +2179,15 @@ static u32 adjust_tsc_khz(u32 khz, s32 ppm)
 	return v;
 }
 
+static void kvm_vcpu_write_tsc_multiplier(struct kvm_vcpu *vcpu, u64 l1_multiplier);
+
 static int set_tsc_khz(struct kvm_vcpu *vcpu, u32 user_tsc_khz, bool scale)
 {
 	u64 ratio;
 
 	/* Guest TSC same frequency as host TSC? */
 	if (!scale) {
-		vcpu->arch.l1_tsc_scaling_ratio = kvm_default_tsc_scaling_ratio;
-		vcpu->arch.tsc_scaling_ratio = kvm_default_tsc_scaling_ratio;
+		kvm_vcpu_write_tsc_multiplier(vcpu, kvm_default_tsc_scaling_ratio);
 		return 0;
 	}
 
@@ -2212,7 +2213,7 @@ static int set_tsc_khz(struct kvm_vcpu *vcpu, u32 user_tsc_khz, bool scale)
 		return -1;
 	}
 
-	vcpu->arch.l1_tsc_scaling_ratio = vcpu->arch.tsc_scaling_ratio = ratio;
+	kvm_vcpu_write_tsc_multiplier(vcpu, ratio);
 	return 0;
 }
 
@@ -2224,8 +2225,7 @@ static int kvm_set_tsc_khz(struct kvm_vcpu *vcpu, u32 user_tsc_khz)
 	/* tsc_khz can be zero if TSC calibration fails */
 	if (user_tsc_khz == 0) {
 		/* set tsc_scaling_ratio to a safe value */
-		vcpu->arch.l1_tsc_scaling_ratio = kvm_default_tsc_scaling_ratio;
-		vcpu->arch.tsc_scaling_ratio = kvm_default_tsc_scaling_ratio;
+		kvm_vcpu_write_tsc_multiplier(vcpu, kvm_default_tsc_scaling_ratio);
 		return -1;
 	}
 
@@ -2383,6 +2383,23 @@ static void kvm_vcpu_write_tsc_offset(struct kvm_vcpu *vcpu, u64 l1_offset)
 	static_call(kvm_x86_write_tsc_offset)(vcpu, vcpu->arch.tsc_offset);
 }
 
+static void kvm_vcpu_write_tsc_multiplier(struct kvm_vcpu *vcpu, u64 l1_multiplier)
+{
+	vcpu->arch.l1_tsc_scaling_ratio = l1_multiplier;
+
+	/* Userspace is changing the multiplier while L2 is active */
+	if (is_guest_mode(vcpu))
+		vcpu->arch.tsc_scaling_ratio = kvm_calc_nested_tsc_multiplier(
+			l1_multiplier,
+			static_call(kvm_x86_get_l2_tsc_multiplier)(vcpu));
+	else
+		vcpu->arch.tsc_scaling_ratio = l1_multiplier;
+
+	if (kvm_has_tsc_control)
+		static_call(kvm_x86_write_tsc_multiplier)(
+			vcpu, vcpu->arch.tsc_scaling_ratio);
+}
+
 static inline bool kvm_check_tsc_unstable(void)
 {
 #ifdef CONFIG_X86_64
@@ -10343,8 +10360,6 @@ int kvm_arch_vcpu_create(struct kvm_vcpu *vcpu)
 	else
 		vcpu->arch.mp_state = KVM_MP_STATE_UNINITIALIZED;
 
-	kvm_set_tsc_khz(vcpu, max_tsc_khz);
-
 	r = kvm_mmu_create(vcpu);
 	if (r < 0)
 		return r;
@@ -10443,6 +10458,7 @@ void kvm_arch_vcpu_postcreate(struct kvm_vcpu *vcpu)
 	if (mutex_lock_killable(&vcpu->mutex))
 		return;
 	vcpu_load(vcpu);
+	kvm_set_tsc_khz(vcpu, max_tsc_khz);
 	kvm_synchronize_tsc(vcpu, 0);
 	vcpu_put(vcpu);
 
