To amortize cost, cloud vendors providing DNN acceleration as a service to end-users employ consolidation and virtualization to share the underlying resources among multiple DNN service requests. This paper makes a case for a "preemptible" neural processing unit (NPU) and a "predictive" multi-task scheduler to meet the latency demands of high-priority inference while maintaining high throughput. We evaluate both the mechanisms that enable NPUs to be preemptible and the policies that utilize them to meet scheduling objectives. We show that preemptive NPU multi-tasking can achieve an average 7.8x, 1.4x, and 4.8x improvement in latency, throughput, and SLA satisfaction, respectively.