Systems and techniques for bi-directional negotiation for dynamic data chunking are described herein. A set of available features for a memory subsystem. The set of available features including latency of buffer locations of the memory subsystem. An indication of a first latency requirement of a first data consumer and a second latency requirement of a second data consumer may be obtained. A first buffer location of the memory subsystem for a data stream based on the first latency requirement may be negotiated with the first data consumer. A second buffer location of the memory subsystem for the data stream based on the second latency requirement may be negotiated with the second data consumer. An indication of the first buffer location may be provided to the first data consumer and an indication of the second buffer location may be provided to the second data consumer.