In this paper, a two-hop nonregenerative multiple-input multiple-output relay system is investigated, where the relay node relies on harvesting the radio frequency energy transferred from the source node to forward information from source to destination. We consider the time switching (TS) protocol between wireless information and energy transfer. In particular, we propose a more general energy consumption constraint at the source node during the information and energy transfer, which includes the constant power constraints used in existing works as special cases. We study the joint optimization of the source precoding matrices, the relay amplifying matrix, and the TS factor to maximize the source–destination mutual information (MI). The optimal structure of the source and relay matrices is derived, which reduces the original transceiver optimization problem to a simpler power allocation problem. We propose a primal decomposition based algorithm and an upper bound based approach to efficiently solve the power allocation problem. The first algorithm achieves the global optimum, whereas the latter one has a lower computational complexity. Numerical simulations show that both proposed algorithms yield much higher system MI and better rate-energy tradeoff than existing approaches.