A method includes executing a driver component on a hypervisor of a computing platform including a first graphics processing unit (GPU) and a second GPU, and executing an instance of the driver component in the VM. The method also includes providing support for hardware virtualization of the second GPU in the hypervisor and the instance of the driver component executing in the VM, defining a data path between the VM and the first GPU in a configuration register, and defining a data path between the VM and the second GPU in another configuration register. Further, the method includes providing a capability to the VM to utilize the first GPU in a shared mode with one or more other VM(s) and to simultaneously dedicatedly utilize the second GPU based on reading exposed emulated versions of the configuration register and the another configuration register and the support for the hardware virtualization.