KVM: 0.913 device: 0.782 debug: 0.782 other: 0.770 graphic: 0.743 semantic: 0.716 permissions: 0.659 performance: 0.621 boot: 0.529 PID: 0.452 network: 0.378 vnc: 0.371 files: 0.357 socket: 0.307 QEMU does not start when kvm enabled (SMM issue?) Hi! QEMU stopped working after "[355023f2010c4df619d88a0dd7012b4b9c74c12c] pc: add SMM property" on my server. It says "Guest has not initialized the display (yet)." and nothing happens. But only if I use -enable-kvm. However, the problem gone after I hardcoded pc_machine_is_smm_enabled() to always return false (but I have little to no understanding of what SMM really is). CMD line that reproduces the issue: qemu-system-x86_64 -enable-kvm -display curses . It doesn't work the server, but works perfectly on my laptop :(. I'm using Arch Linux with all updates. Some info: Linux machine 4.2.2-1-ARCH #1 SMP PREEMPT Tue Sep 29 22:21:33 CEST 2015 x86_64 GNU/Linux Qemu-2.4.0 (tried HEAD as well) CPU: Intel(R) Core(TM) i7 CPU 950 @ 3.07GHz Some messages from dmesg, just in case: [ 6.996297] kvm: VM_EXIT_LOAD_IA32_PERF_GLOBAL_CTRL does not work properly. Using workaround [ 6381.722990] kvm: zapping shadow pages for mmio generation wraparound I'm more than happy to provide additional information if needed. Cheers, Alex This is a KVM bug, not a QEMU bug. It only happens with ept=1 and unrestricted_guest=0. A workaround is to disable SMM in QEMU (-machine smm=off) or to set kvm_intel's ept parameter to 0. I'm closing the bug here because it is the wrong tracker (also I know about it, can reproduce, and hope to provide a fix later this week).