Yes (Unlimited Concurrent, Shared Nothing; new compression & SMB3 options)
(No major change in WS2016) WS 2012R2 made the following enhancements to live migration:1) Improved performance (in addition to the TCP/IP option):- Compression: This is now the default setting since Server 2012 R2 (content of the virtual machine that is being migrated is compressed and then copied to the destination server over TCP/IP)- Live Migration over SMB 3.0 (memory content of the vm is copied to the destination server over a SMB 3.0 connection): SMB Direct is used when the network adapters on the source and destination servers have Remote Direct Memory Access (RDMA) capabilities enabled; SMB Multichannel automatically detects and uses multiple connections when a proper SMB Multichannel configuration is identified.2) Cross-version migrations: You can live migrate virtual machines from Hyper-V Windows Server 2012 R2 to Hyper-V in Windows Server 2016. With WS 2012 the following enhancements had been made to the live migration capabilities: 1) Faster and concurrent migrations: Unlimited concurrent limitations using up to 10Gbit bandwidth. Comment: Unlimited refers to no hard coded limitation but in reality the amount of transferred data (amount of virtual memory / rate of changes ) as well as the available bandwidth limit the optimal number of concurrent transfers. The allowable number of concurrent live migrations can be configured manually. Attempted concurrent live migrations in excess of the limit will be queued.2) Live Migration outwidth a cluster: Cluster Shared Volumes (CSV) are required to migrate virtual machines within a Hyper-V cluster. In Server 2012 virtual machines can now be stored on SMB3 (CIFS) shares. This allows you to perform a live migration between non-clustered servers running Hyper-V (or between different clusters), while the virtual machines storage remains on the central SMB share.3) Shared Nothing Migrations: You can also perform a live migration of a virtual machine between two non-clustered servers running Hyper-V when you are only using local storage for the virtual machine. In this case, the virtual machines storage is mirrored to the destination server over the network, and then the virtual machine is migrated, while it continues to run and provide network services.
Microsoft, HyperV/2016, DataCenter
Live Migration of VMs, VM Mobility, VM Mobility and HA