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There is a package called memcached which sets up a fast server for key-value retrieval. It’s used by big clustered sites like wikipedia.
It lets you share frequent-changed data around your cluster without DB overhead.
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If you are doing the inserts/updates/retreives based on keys (for example you are accessing the rows by ID every time) you can use the Django caching framework with any of the cache backends that can be shared between servers. amwinter suggested memcached. There’s a memcached cache backend in the django distribution. But memecached doesn’t guarantee it won’t loose your data. For example you might be trying to store large amounts of data and memcached will start loosing your data when it hits a certain memory limit. So keep that in mind. There’s an extension for memcached that can make it persist data (forgot what it was called).
You may also consider redis as a cache backend or MongoDB