Firecracker: Secure and fast microVMs for serverless computing
github.com
github.com
It uses memory ballooning as its dynamic memory management. Managing this balloon requires some custom implementations if you want to do things like reclaim memory from the guest.
If a large file is created and deleted within the host that disk space stays claimed until the VMs disk is deleted.
No GPU support.
Appears to be trying just what you ask.