diff --git a/mlx/backend/cuda/eval.cpp b/mlx/backend/cuda/eval.cpp
index 0c2690dcf..b91fafa22 100644
--- a/mlx/backend/cuda/eval.cpp
+++ b/mlx/backend/cuda/eval.cpp
@@ -15,8 +15,9 @@ bool is_available() {
 }
 
 void new_stream(Stream s) {
-  // Force initalization of cuda, so cuda runtime get destroyed at last.
-  cudaFree(nullptr);
+  // Force initalization of CUDA by creating an event, so the CUDA runtime and
+  // our CUDA event pool get destroyed last.
+  cu::CudaEvent(cudaEventDefault);
   // Ensure the static stream objects get created.
   cu::get_command_encoder(s);
 }
diff --git a/mlx/backend/cuda/event.cu b/mlx/backend/cuda/event.cu
index c9c6b3659..2d9c96604 100644
--- a/mlx/backend/cuda/event.cu
+++ b/mlx/backend/cuda/event.cu
@@ -3,10 +3,12 @@
 #include "mlx/backend/cuda/allocator.h"
 #include "mlx/backend/cuda/device.h"
 #include "mlx/backend/cuda/event.h"
-#include "mlx/backend/cuda/utils.h"
 #include "mlx/event.h"
 #include "mlx/scheduler.h"
 
+#include <map>
+#include <vector>
+
 #include <nvtx3/nvtx3.hpp>
 
 namespace mlx::core {
@@ -17,104 +19,141 @@ namespace cu {
 // CudaEvent implementations
 ///////////////////////////////////////////////////////////////////////////////
 
-// Cuda event managed with RAII.
-class CudaEventHandle {
- public:
-  CudaEventHandle() {
-    CHECK_CUDA_ERROR(cudaEventCreateWithFlags(
-        &event_, cudaEventDisableTiming | cudaEventBlockingSync));
+namespace {
+
+// Manage cached cudaEvent_t objects.
+struct CudaEventPool {
+  static CudaEventHandle create(int flags) {
+    auto& cache = cache_for(flags);
+    if (cache.empty()) {
+      return CudaEventHandle(flags);
+    } else {
+      CudaEventHandle ret = std::move(cache.back());
+      cache.pop_back();
+      return ret;
+    }
   }
 
-  ~CudaEventHandle() {
-    CHECK_CUDA_ERROR(cudaEventDestroy(event_));
+  static void release(CudaEventHandle event) {
+    cache_for(event.flags).push_back(std::move(event));
   }
 
-  CudaEventHandle(const CudaEventHandle&) = delete;
-  CudaEventHandle& operator=(const CudaEventHandle&) = delete;
-
-  operator cudaEvent_t() const {
-    return event_;
+  static std::vector<CudaEventHandle>& cache_for(int flags) {
+    static std::map<int, std::vector<CudaEventHandle>> cache;
+    return cache[flags];
   }
-
- private:
-  cudaEvent_t event_;
 };
 
-CudaEvent::CudaEvent() : event_(std::make_shared<CudaEventHandle>()) {}
+} // namespace
+
+CudaEventHandle::CudaEventHandle(int flags) : flags(flags) {
+  CHECK_CUDA_ERROR(cudaEventCreateWithFlags(&handle_, flags));
+  assert(handle_ != nullptr);
+}
+
+CudaEvent::CudaEvent(int flags) : event_(CudaEventPool::create(flags)) {}
+
+CudaEvent::~CudaEvent() {
+  CudaEventPool::release(std::move(event_));
+}
 
 void CudaEvent::wait() {
   nvtx3::scoped_range r("cu::CudaEvent::wait");
-  if (!recorded_) {
-    throw std::runtime_error("Should not wait on a CudaEvent before record.");
-  }
-  cudaEventSynchronize(*event_);
+  cudaEventSynchronize(event_);
 }
 
 void CudaEvent::wait(cudaStream_t stream) {
-  if (!recorded_) {
-    throw std::runtime_error("Should not wait on a CudaEvent before record.");
-  }
-  cudaStreamWaitEvent(stream, *event_);
-}
-
-void CudaEvent::wait(Stream s) {
-  if (s.device == mlx::core::Device::cpu) {
-    scheduler::enqueue(s, [*this]() mutable { wait(); });
-  } else {
-    auto& enc = cu::get_command_encoder(s);
-    enc.commit();
-    wait(enc.stream());
-  }
+  cudaStreamWaitEvent(stream, event_);
 }
 
 void CudaEvent::record(cudaStream_t stream) {
-  cudaEventRecord(*event_, stream);
-  recorded_ = true;
-}
-
-void CudaEvent::record(Stream s) {
-  if (s.device == mlx::core::Device::cpu) {
-    throw std::runtime_error("CudaEvent can not wait on cpu stream.");
-  } else {
-    auto& enc = cu::get_command_encoder(s);
-    enc.commit();
-    record(enc.stream());
-  }
+  cudaEventRecord(event_, stream);
 }
 
 bool CudaEvent::completed() const {
-  return cudaEventQuery(*event_) == cudaSuccess;
+  return cudaEventQuery(event_) == cudaSuccess;
 }
 
+// Wraps CudaEvent with a few features:
+// 1. The class can be copied.
+// 2. Make wait/record work with CPU streams.
+// 3. Add checks for waiting on un-recorded event.
+class CopyableCudaEvent {
+ public:
+  CopyableCudaEvent()
+      : event_(std::make_shared<CudaEvent>(
+            cudaEventDisableTiming | cudaEventBlockingSync)) {}
+
+  void wait() {
+    event_->wait();
+  }
+
+  void wait(Stream s) {
+    if (s.device == mlx::core::Device::cpu) {
+      scheduler::enqueue(s, [*this]() mutable {
+        check_recorded();
+        event_->wait();
+      });
+    } else {
+      check_recorded();
+      auto& encoder = cu::get_command_encoder(s);
+      encoder.commit();
+      event_->wait(encoder.stream());
+    }
+  }
+
+  void record(Stream s) {
+    if (s.device == mlx::core::Device::cpu) {
+      throw std::runtime_error("CudaEvent can not wait on CPU stream.");
+    } else {
+      auto& encoder = cu::get_command_encoder(s);
+      encoder.commit();
+      event_->record(encoder.stream());
+      recorded_ = true;
+    }
+  }
+
+  bool is_signaled() const {
+    return recorded_ && event_->completed();
+  }
+
+ private:
+  void check_recorded() const {
+    if (!recorded_) {
+      throw std::runtime_error(
+          "Should not wait on a CudaEvent before recording.");
+    }
+  }
+
+  std::shared_ptr<CudaEvent> event_;
+  bool recorded_{false};
+};
+
 ///////////////////////////////////////////////////////////////////////////////
-// SharedEvent implementations
+// AtomicEvent implementations
 ///////////////////////////////////////////////////////////////////////////////
 
-__host__ __device__ void event_wait(SharedEvent::Atomic* ac, uint64_t value) {
+__host__ __device__ void event_wait(AtomicEvent::Atomic* ac, uint64_t value) {
   uint64_t current;
   while ((current = ac->load()) < value) {
     ac->wait(current);
   }
 }
 
-__host__ __device__ void event_signal(SharedEvent::Atomic* ac, uint64_t value) {
+__host__ __device__ void event_signal(AtomicEvent::Atomic* ac, uint64_t value) {
   ac->store(value);
   ac->notify_all();
 }
 
-__global__ void event_wait_kernel(SharedEvent::Atomic* ac, uint64_t value) {
+__global__ void event_wait_kernel(AtomicEvent::Atomic* ac, uint64_t value) {
   event_wait(ac, value);
 }
 
-__global__ void event_signal_kernel(SharedEvent::Atomic* ac, uint64_t value) {
+__global__ void event_signal_kernel(AtomicEvent::Atomic* ac, uint64_t value) {
   event_signal(ac, value);
 }
 
-SharedEvent::Atomic* to_atomic(std::shared_ptr<Buffer> buf) {
-  return static_cast<SharedEvent::Atomic*>(buf->raw_ptr());
-}
-
-SharedEvent::SharedEvent() {
+AtomicEvent::AtomicEvent() {
   buf_ = std::shared_ptr<Buffer>(
       new Buffer{allocator().malloc(sizeof(Atomic))}, [](Buffer* ptr) {
         allocator().free(*ptr);
@@ -123,17 +162,17 @@ SharedEvent::SharedEvent() {
   *static_cast<uint64_t*>(buf_->raw_ptr()) = 0;
 }
 
-void SharedEvent::wait(uint64_t value) {
-  nvtx3::scoped_range r("cu::SharedEvent::wait");
-  event_wait(to_atomic(buf_), value);
+void AtomicEvent::wait(uint64_t value) {
+  nvtx3::scoped_range r("cu::AtomicEvent::wait");
+  event_wait(atomic(), value);
 }
 
-void SharedEvent::wait(cudaStream_t stream, uint64_t value) {
-  event_wait_kernel<<<1, 1, 0, stream>>>(to_atomic(buf_), value);
+void AtomicEvent::wait(cudaStream_t stream, uint64_t value) {
+  event_wait_kernel<<<1, 1, 0, stream>>>(atomic(), value);
 }
 
-void SharedEvent::wait(Stream s, uint64_t value) {
-  nvtx3::scoped_range r("cu::SharedEvent::wait(s)");
+void AtomicEvent::wait(Stream s, uint64_t value) {
+  nvtx3::scoped_range r("cu::AtomicEvent::wait(s)");
   if (s.device == mlx::core::Device::cpu) {
     scheduler::enqueue(s, [*this, value]() mutable { wait(value); });
   } else {
@@ -144,17 +183,17 @@ void SharedEvent::wait(Stream s, uint64_t value) {
   }
 }
 
-void SharedEvent::signal(uint64_t value) {
-  nvtx3::scoped_range r("cu::SharedEvent::signal");
-  event_signal(to_atomic(buf_), value);
+void AtomicEvent::signal(uint64_t value) {
+  nvtx3::scoped_range r("cu::AtomicEvent::signal");
+  event_signal(atomic(), value);
 }
 
-void SharedEvent::signal(cudaStream_t stream, uint64_t value) {
-  event_signal_kernel<<<1, 1, 0, stream>>>(to_atomic(buf_), value);
+void AtomicEvent::signal(cudaStream_t stream, uint64_t value) {
+  event_signal_kernel<<<1, 1, 0, stream>>>(atomic(), value);
 }
 
-void SharedEvent::signal(Stream s, uint64_t value) {
-  nvtx3::scoped_range r("cu::SharedEvent::signal(s)");
+void AtomicEvent::signal(Stream s, uint64_t value) {
+  nvtx3::scoped_range r("cu::AtomicEvent::signal(s)");
   if (s.device == mlx::core::Device::cpu) {
     // Signal through a GPU stream so the atomic is updated in GPU - updating
     // the atomic in CPU sometimes does not get GPU notified.
@@ -168,14 +207,14 @@ void SharedEvent::signal(Stream s, uint64_t value) {
   }
 }
 
-bool SharedEvent::is_signaled(uint64_t value) const {
-  nvtx3::scoped_range r("cu::SharedEvent::is_signaled");
-  return to_atomic(buf_)->load() >= value;
+bool AtomicEvent::is_signaled(uint64_t value) const {
+  nvtx3::scoped_range r("cu::AtomicEvent::is_signaled");
+  return atomic()->load() >= value;
 }
 
-uint64_t SharedEvent::value() const {
-  nvtx3::scoped_range r("cu::SharedEvent::value");
-  return to_atomic(buf_)->load();
+uint64_t AtomicEvent::value() const {
+  nvtx3::scoped_range r("cu::AtomicEvent::value");
+  return atomic()->load();
 }
 
 } // namespace cu
@@ -188,14 +227,14 @@ namespace {
 
 struct EventImpl {
   // CudaEvent is preferred when possible because it is fast, however we have
-  // to fallback to SharedEvent in following cases:
+  // to fallback to AtomicEvent in following cases:
   // 1. the event is used to wait/signal a cpu stream;
   // 2. signal value other than 1 has been specified.
-  std::unique_ptr<cu::CudaEvent> cuda;
-  std::unique_ptr<cu::SharedEvent> shared;
+  std::unique_ptr<cu::CopyableCudaEvent> cuda;
+  std::unique_ptr<cu::AtomicEvent> atomic;
 
   bool is_created() const {
-    return cuda || shared;
+    return cuda || atomic;
   }
 
   void ensure_created(Stream s, uint64_t signal_value) {
@@ -203,10 +242,10 @@ struct EventImpl {
       return;
     }
     if (s.device == mlx::core::Device::cpu || signal_value > 1) {
-      nvtx3::mark("Using slow SharedEvent");
-      shared = std::make_unique<cu::SharedEvent>();
+      nvtx3::mark("Using slow AtomicEvent");
+      atomic = std::make_unique<cu::AtomicEvent>();
     } else {
-      cuda = std::make_unique<cu::CudaEvent>();
+      cuda = std::make_unique<cu::CopyableCudaEvent>();
     }
   }
 };
@@ -225,7 +264,7 @@ void Event::wait() {
     assert(value() == 1);
     event->cuda->wait();
   } else {
-    event->shared->wait(value());
+    event->atomic->wait(value());
   }
 }
 
@@ -236,7 +275,7 @@ void Event::wait(Stream s) {
     assert(value() == 1);
     event->cuda->wait(s);
   } else {
-    event->shared->wait(s, value());
+    event->atomic->wait(s, value());
   }
 }
 
@@ -247,7 +286,7 @@ void Event::signal(Stream s) {
     assert(value() == 1);
     event->cuda->record(s);
   } else {
-    event->shared->signal(s, value());
+    event->atomic->signal(s, value());
   }
 }
 
@@ -258,9 +297,9 @@ bool Event::is_signaled() const {
   }
   if (event->cuda) {
     assert(value() == 1);
-    return event->cuda->recorded() && event->cuda->completed();
+    return event->cuda->is_signaled();
   } else {
-    return event->shared->is_signaled(value());
+    return event->atomic->is_signaled(value());
   }
 }
 
diff --git a/mlx/backend/cuda/event.h b/mlx/backend/cuda/event.h
index 3ef9786f3..7a9ea66f6 100644
--- a/mlx/backend/cuda/event.h
+++ b/mlx/backend/cuda/event.h
@@ -3,49 +3,54 @@
 #pragma once
 
 #include "mlx/allocator.h"
+#include "mlx/backend/cuda/utils.h"
 #include "mlx/stream.h"
 
+#include <memory>
+
 #include <cuda_runtime.h>
 #include <cuda/atomic>
 
-#include <memory>
-
 namespace mlx::core::cu {
 
-class CudaEventHandle;
+// RAII-managed move-only wrapper of cudaEvent_t.
+struct CudaEventHandle : public CudaHandle<cudaEvent_t, cudaEventDestroy> {
+  CudaEventHandle(int flags);
+  int flags;
+};
 
 // Wrapper of native cuda event. It can synchronize between GPU streams, or wait
 // on GPU stream in CPU stream, but can not wait on CPU stream.
 class CudaEvent {
  public:
-  CudaEvent();
+  explicit CudaEvent(int flags);
+  ~CudaEvent();
+
+  CudaEvent(CudaEvent&&) = default;
+  CudaEvent& operator=(CudaEvent&&) = default;
+
+  CudaEvent(const CudaEvent&) = delete;
+  CudaEvent& operator=(const CudaEvent&) = delete;
 
   void wait();
   void wait(cudaStream_t stream);
-  void wait(Stream s);
   void record(cudaStream_t stream);
-  void record(Stream s);
 
   // Return whether the recorded kernels have completed. Note that this method
   // returns true if record() has not been called.
   bool completed() const;
 
-  bool recorded() const {
-    return recorded_;
-  }
-
  private:
-  bool recorded_{false};
-  std::shared_ptr<CudaEventHandle> event_;
+  CudaEventHandle event_;
 };
 
 // Event that can synchronize between CPU and GPU. It is much slower than
 // CudaEvent so the latter should always be preferred when possible.
-class SharedEvent {
+class AtomicEvent {
  public:
   using Atomic = cuda::atomic<uint64_t>;
 
-  SharedEvent();
+  AtomicEvent();
 
   void wait(uint64_t value);
   void wait(cudaStream_t stream, uint64_t value);
@@ -57,7 +62,11 @@ class SharedEvent {
   uint64_t value() const;
 
  private:
-  std::shared_ptr<mlx::core::allocator::Buffer> buf_;
+  Atomic* atomic() const {
+    return static_cast<AtomicEvent::Atomic*>(buf_->raw_ptr());
+  }
+
+  std::shared_ptr<allocator::Buffer> buf_;
 };
 
 } // namespace mlx::core::cu
diff --git a/mlx/backend/cuda/fence.cpp b/mlx/backend/cuda/fence.cpp
index f399c4ebb..9121c7f4e 100644
--- a/mlx/backend/cuda/fence.cpp
+++ b/mlx/backend/cuda/fence.cpp
@@ -7,7 +7,7 @@ namespace mlx::core {
 
 struct FenceImpl {
   uint32_t count;
-  cu::SharedEvent event;
+  cu::AtomicEvent event;
 };
 
 Fence::Fence(Stream s) {
diff --git a/mlx/backend/cuda/worker.cpp b/mlx/backend/cuda/worker.cpp
index ce211367c..349660ed4 100644
--- a/mlx/backend/cuda/worker.cpp
+++ b/mlx/backend/cuda/worker.cpp
@@ -7,6 +7,7 @@ namespace mlx::core::cu {
 
 Worker::Worker()
     : signal_stream_(device(mlx::core::Device::gpu)),
+      signal_event_(cudaEventDisableTiming | cudaEventBlockingSync),
       worker_(&Worker::thread_fn, this) {}
 
 Worker::~Worker() {
diff --git a/mlx/backend/cuda/worker.h b/mlx/backend/cuda/worker.h
index df6647e2b..7f1004f4d 100644
--- a/mlx/backend/cuda/worker.h
+++ b/mlx/backend/cuda/worker.h
@@ -3,7 +3,6 @@
 #pragma once
 
 #include "mlx/backend/cuda/event.h"
-#include "mlx/backend/cuda/utils.h"
 
 #include <condition_variable>
 #include <functional>