One embodiment of the present invention sets forth a technique for dynamically allocating memory using one or more lock-free FIFOs. One or more lock-free FIFOs are populated with FIFO nodes, where each FIFO node represents a memory allocation of a predetermined size. Each particular lock-free FIFO includes memory allocations of a single size. Different lock-free FIFOs may include memory allocations for different sizes to service allocation requests for different size memory allocations. A lock-free mechanism is used to pop FIFO nodes from the FIFO. The use of the lock-free FIFO allows multiple consumers to simultaneously attempt to pop the head FIFO node without first obtaining a lock to ensure exclusive access of the FIFO.