Low-rank adaptation (LoRA) has become an important and popular method to adapt pre-trained models to specific domains.We present Punica, a system to serve multiple LoRA models in a shared GPU cluster. Punica contains a new CUDA kernel design that allows batching of GPU operations for different LoRA models. This allows a GPU to hold only a single copy of the underlying pre-trained model when serving multiple, different LoRA models, significantly enhancing GPU efficiency in terms of both memory and computation. Our scheduler consolidates multi-tenant LoRA serving workloads in a shared GPU cluster. With a fixed-sized GPU cluster, our evaluations show that Punica achieves 12x higher throughput in serving multiple LoRA models compared to state-of-the-art LLM serving systems while only adding 2ms latency per token.