diff --git a/crates/polars-stream/src/morsel.rs b/crates/polars-stream/src/morsel.rs
index 9ba0b4b0288e..766129da0a20 100644
--- a/crates/polars-stream/src/morsel.rs
+++ b/crates/polars-stream/src/morsel.rs
@@ -67,7 +67,7 @@ impl SourceToken {
     }
 }
 
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct Morsel {
     /// The data contained in this morsel.
     df: DataFrame,
@@ -152,4 +152,8 @@ impl Morsel {
     pub fn source_token(&self) -> &SourceToken {
         &self.source_token
     }
+
+    pub fn replace_source_token(&mut self, new_token: SourceToken) -> SourceToken {
+        core::mem::replace(&mut self.source_token, new_token)
+    }
 }
diff --git a/crates/polars-stream/src/nodes/mod.rs b/crates/polars-stream/src/nodes/mod.rs
index fecc1b8e5abe..839646a488b0 100644
--- a/crates/polars-stream/src/nodes/mod.rs
+++ b/crates/polars-stream/src/nodes/mod.rs
@@ -3,6 +3,7 @@ pub mod in_memory_map;
 pub mod in_memory_sink;
 pub mod in_memory_source;
 pub mod map;
+pub mod multiplexer;
 pub mod ordered_union;
 pub mod reduce;
 pub mod select;
diff --git a/crates/polars-stream/src/nodes/multiplexer.rs b/crates/polars-stream/src/nodes/multiplexer.rs
new file mode 100644
index 000000000000..a0238b94da2e
--- /dev/null
+++ b/crates/polars-stream/src/nodes/multiplexer.rs
@@ -0,0 +1,195 @@
+use std::collections::VecDeque;
+
+use tokio::sync::mpsc::{unbounded_channel, UnboundedSender};
+
+use super::compute_node_prelude::*;
+use crate::morsel::SourceToken;
+
+// TODO: replace this with an out-of-core buffering solution.
+enum BufferedStream {
+    Open(VecDeque<Morsel>),
+    Closed,
+}
+
+impl BufferedStream {
+    fn new() -> Self {
+        Self::Open(VecDeque::new())
+    }
+}
+
+pub struct MultiplexerNode {
+    buffers: Vec<BufferedStream>,
+}
+
+impl MultiplexerNode {
+    pub fn new() -> Self {
+        Self {
+            buffers: Vec::default(),
+        }
+    }
+}
+
+impl ComputeNode for MultiplexerNode {
+    fn name(&self) -> &str {
+        "multiplexer"
+    }
+
+    fn update_state(&mut self, recv: &mut [PortState], send: &mut [PortState]) {
+        assert!(recv.len() == 1 && !send.is_empty());
+
+        // Initialize buffered streams, and mark those for which the receiver
+        // is no longer interested as closed.
+        self.buffers.resize_with(send.len(), BufferedStream::new);
+        for (s, b) in send.iter().zip(&mut self.buffers) {
+            if *s == PortState::Done {
+                *b = BufferedStream::Closed;
+            }
+        }
+
+        // Check if either the input is done, or all outputs are done.
+        let input_done = recv[0] == PortState::Done
+            && self.buffers.iter().all(|b| match b {
+                BufferedStream::Open(v) => v.is_empty(),
+                BufferedStream::Closed => true,
+            });
+        let output_done = send.iter().all(|p| *p == PortState::Done);
+
+        // If either side is done, everything is done.
+        if input_done || output_done {
+            recv[0] = PortState::Done;
+            for s in send {
+                *s = PortState::Done;
+            }
+            return;
+        }
+
+        let all_blocked = send.iter().all(|p| *p == PortState::Blocked);
+
+        // Pass along the input state to the output.
+        for s in send {
+            *s = recv[0];
+        }
+
+        // We say we are ready to receive unless all outputs are blocked.
+        recv[0] = if all_blocked {
+            PortState::Blocked
+        } else {
+            PortState::Ready
+        };
+    }
+
+    fn spawn<'env, 's>(
+        &'env mut self,
+        scope: &'s TaskScope<'s, 'env>,
+        recv: &mut [Option<RecvPort<'_>>],
+        send: &mut [Option<SendPort<'_>>],
+        _state: &'s ExecutionState,
+        join_handles: &mut Vec<JoinHandle<PolarsResult<()>>>,
+    ) {
+        assert!(recv.len() == 1 && !send.is_empty());
+        assert!(self.buffers.len() == send.len());
+
+        enum Listener<'a> {
+            Active(UnboundedSender<Morsel>),
+            Buffering(&'a mut VecDeque<Morsel>),
+            Inactive,
+        }
+
+        let buffered_source_token = SourceToken::new();
+
+        let (mut buf_senders, buf_receivers): (Vec<_>, Vec<_>) = self
+            .buffers
+            .iter_mut()
+            .enumerate()
+            .map(|(port_idx, buffer)| {
+                if let BufferedStream::Open(buf) = buffer {
+                    if send[port_idx].is_some() {
+                        // TODO: replace with a bounded channel and store data
+                        // out-of-core beyond a certain size.
+                        let (rx, tx) = unbounded_channel();
+                        (Listener::Active(rx), Some((buf, tx)))
+                    } else {
+                        (Listener::Buffering(buf), None)
+                    }
+                } else {
+                    (Listener::Inactive, None)
+                }
+            })
+            .unzip();
+
+        // TODO: parallel multiplexing.
+        if let Some(mut receiver) = recv[0].take().map(|r| r.serial()) {
+            let buffered_source_token = buffered_source_token.clone();
+            join_handles.push(scope.spawn_task(TaskPriority::High, async move {
+                loop {
+                    let Ok(morsel) = receiver.recv().await else {
+                        break;
+                    };
+
+                    let mut anyone_interested = false;
+                    let mut active_listener_interested = false;
+                    for buf_sender in &mut buf_senders {
+                        match buf_sender {
+                            Listener::Active(s) => match s.send(morsel.clone()) {
+                                Ok(_) => {
+                                    anyone_interested = true;
+                                    active_listener_interested = true;
+                                },
+                                Err(_) => *buf_sender = Listener::Inactive,
+                            },
+                            Listener::Buffering(b) => {
+                                // Make sure to count buffered morsels as
+                                // consumed to not block the source.
+                                let mut m = morsel.clone();
+                                m.take_consume_token();
+                                b.push_front(m);
+                                anyone_interested = true;
+                            },
+                            Listener::Inactive => {},
+                        }
+                    }
+
+                    if !anyone_interested {
+                        break;
+                    }
+
+                    // If only buffering inputs are left, or we got a stop
+                    // request from an input reading from old buffered data,
+                    // request a stop from the source.
+                    if !active_listener_interested || buffered_source_token.stop_requested() {
+                        morsel.source_token().stop();
+                    }
+                }
+
+                Ok(())
+            }));
+        }
+
+        for (send_port, opt_buf_recv) in send.iter_mut().zip(buf_receivers) {
+            if let Some((buf, mut rx)) = opt_buf_recv {
+                let mut sender = send_port.take().unwrap().serial();
+
+                let buffered_source_token = buffered_source_token.clone();
+                join_handles.push(scope.spawn_task(TaskPriority::High, async move {
+                    // First we try to flush all the old buffered data.
+                    while let Some(mut morsel) = buf.pop_back() {
+                        morsel.replace_source_token(buffered_source_token.clone());
+                        if sender.send(morsel).await.is_err()
+                            || buffered_source_token.stop_requested()
+                        {
+                            break;
+                        }
+                    }
+
+                    // Then send along data from the multiplexer.
+                    while let Some(morsel) = rx.recv().await {
+                        if sender.send(morsel).await.is_err() {
+                            break;
+                        }
+                    }
+                    Ok(())
+                }));
+            }
+        }
+    }
+}
diff --git a/crates/polars-stream/src/physical_plan/mod.rs b/crates/polars-stream/src/physical_plan/mod.rs
index ad7d42dd53ed..dbc48a82077e 100644
--- a/crates/polars-stream/src/physical_plan/mod.rs
+++ b/crates/polars-stream/src/physical_plan/mod.rs
@@ -94,4 +94,9 @@ pub enum PhysNode {
         /// which case they are broadcast.
         null_extend: bool,
     },
+
+    #[allow(unused)]
+    Multiplexer {
+        input: PhysNodeKey,
+    },
 }
diff --git a/crates/polars-stream/src/physical_plan/to_graph.rs b/crates/polars-stream/src/physical_plan/to_graph.rs
index b453ab34cd7b..2e4efd9410bc 100644
--- a/crates/polars-stream/src/physical_plan/to_graph.rs
+++ b/crates/polars-stream/src/physical_plan/to_graph.rs
@@ -257,6 +257,12 @@ fn to_graph_rec<'a>(
                 input_keys,
             )
         },
+
+        Multiplexer { input } => {
+            let input_key = to_graph_rec(*input, ctx)?;
+            ctx.graph
+                .add_node(nodes::multiplexer::MultiplexerNode::new(), [input_key])
+        },
     };
 
     ctx.phys_to_graph.insert(phys_node_key, graph_key);