VM exit
A VM exit is the point at which the CPU leaves guest code and hands control to the hypervisor, because the guest did something privileged.
A VM exit is the point at which the CPU leaves guest code and hands control to the hypervisor. With hardware virtualization, guest code runs natively until the guest does something privileged. The CPU then exits to the hypervisor, which handles the event and resumes the guest. VM exits are the means by which the hypervisor traps privileged operations and emulates devices.