A method and apparatus for node power regulation among nodes that share a power supply are described. In one embodiment, the apparatus comprises a power supply unit to provide input power and a plurality of nodes coupled to receive the input power, where each node of the plurality of nodes is operable to run power management logic, and wherein two or more nodes of the plurality of nodes alternate between performing power management and providing power regulation control information to other nodes of the plurality of nodes to regulate power consumption by the plurality of nodes, with, at any one time, only one node of plurality of nodes generating the power regulation control to regulate power for the plurality of nodes.