diff --git a/src/lightning/fabric/accelerators/cuda.py b/src/lightning/fabric/accelerators/cuda.py
index 5b8a4c2f80bed..2746a082b3e85 100644
--- a/src/lightning/fabric/accelerators/cuda.py
+++ b/src/lightning/fabric/accelerators/cuda.py
@@ -20,6 +20,7 @@
 from lightning.fabric.accelerators.accelerator import Accelerator
 from lightning.fabric.accelerators.registry import _AcceleratorRegistry
 from lightning.fabric.utilities.rank_zero import rank_zero_info
+from lightning.fabric.utilities.throughput import get_float32_matmul_precision_compat
 
 
 class CUDAAccelerator(Accelerator):
@@ -162,7 +163,7 @@ def _check_cuda_matmul_precision(device: torch.device) -> None:
         return
     # check that the user hasn't changed the precision already, this works for both `allow_tf32 = True` and
     # `set_float32_matmul_precision`
-    if torch.get_float32_matmul_precision() == "highest":  # default
+    if get_float32_matmul_precision_compat() == "highest":  # default
         rank_zero_info(
             f"You are using a CUDA device ({torch.cuda.get_device_name(device)!r}) that has Tensor Cores. To properly"
             " utilize them, you should set `torch.set_float32_matmul_precision('medium' | 'high')` which will trade-off"
diff --git a/src/lightning/fabric/utilities/throughput.py b/src/lightning/fabric/utilities/throughput.py
index 6bc329fa1c3be..a162f08e500d3 100644
--- a/src/lightning/fabric/utilities/throughput.py
+++ b/src/lightning/fabric/utilities/throughput.py
@@ -12,8 +12,9 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 # Adapted from https://github.com/mosaicml/composer/blob/f2a2dc820/composer/callbacks/speed_monitor.py
+import warnings
 from collections import deque
-from typing import TYPE_CHECKING, Any, Callable, Optional, TypeVar, Union
+from typing import TYPE_CHECKING, Any, Callable, Literal, Optional, TypeVar, Union
 
 import torch
 from typing_extensions import override
@@ -27,6 +28,34 @@
 _THROUGHPUT_METRICS = dict[str, Union[int, float]]
 
 
+def get_float32_matmul_precision_compat() -> Literal["highest", "high", "medium"]:
+    """Get the current float32 matmul precision using PyTorch 2.9+ compatible API."""
+    if not torch.cuda.is_available():
+        try:
+            with warnings.catch_warnings():
+                warnings.simplefilter("ignore")
+                return torch.get_float32_matmul_precision()
+        except Exception:
+            return "highest"
+
+    # Check if new API is available (PyTorch 2.9+)
+    if hasattr(torch.backends.cuda.matmul, "fp32_precision"):
+        precision_value = torch.backends.cuda.matmul.fp32_precision
+
+        if precision_value == "ieee":
+            return "highest"
+        if precision_value == "tf32":
+            return "medium"
+        return "highest"
+    # Fallback to old API for older PyTorch versions
+    try:
+        with warnings.catch_warnings():
+            warnings.simplefilter("ignore")
+            return torch.get_float32_matmul_precision()
+    except Exception:
+        return "highest"
+
+
 # The API design of this class follows `torchmetrics.Metric` but it doesn't need to be an actual Metric because there's
 # no need for synchronization or reduction as it doesn't use Tensors at all.
 class Throughput:
@@ -607,7 +636,7 @@ def get_available_flops(device: torch.device, dtype: Union[torch.dtype, str]) ->
         if dtype is torch.float32:
             from lightning.fabric.accelerators.cuda import _is_ampere_or_later
 
-            if _is_ampere_or_later() and torch.get_float32_matmul_precision() != "highest":
+            if _is_ampere_or_later() and get_float32_matmul_precision_compat() != "highest":
                 dtype = "tfloat32"
         if dtype not in dtype_to_flops:
             # for example, T4 doesn't support bfloat16. it might also be that we are missing this dtype from the list
diff --git a/tests/tests_fabric/utilities/test_throughput.py b/tests/tests_fabric/utilities/test_throughput.py
index a175fa97fd444..9340024a5e0e3 100644
--- a/tests/tests_fabric/utilities/test_throughput.py
+++ b/tests/tests_fabric/utilities/test_throughput.py
@@ -1,3 +1,4 @@
+import warnings
 from unittest import mock
 from unittest.mock import Mock, call
 
@@ -11,6 +12,7 @@
     ThroughputMonitor,
     _MonotonicWindow,
     get_available_flops,
+    get_float32_matmul_precision_compat,
     measure_flops,
 )
 from tests_fabric.test_fabric import BoringModel
@@ -340,3 +342,23 @@ def test_monotonic_window():
         w.append(2)
     w.clear()
     w.append(2)
+
+
+def test_get_float32_matmul_precision_compat():
+    """Test that the compatibility function works without warnings."""
+    precision = get_float32_matmul_precision_compat()
+    assert precision in ["highest", "high", "medium"]
+
+    with warnings.catch_warnings(record=True) as w:
+        warnings.simplefilter("always")
+        precision = get_float32_matmul_precision_compat()
+
+        deprecation_warnings = [
+            warning
+            for warning in w
+            if "Please use the new API settings to control TF32 behavior" in str(warning.message)
+        ]
+        assert len(deprecation_warnings) == 0, (
+            f"Compatibility function triggered {len(deprecation_warnings)} deprecation warnings"
+        )
+    assert precision in ["highest", "high", "medium"]