diff --git a/llvm/lib/Target/AMDGPU/SIInsertWaitcnts.cpp b/llvm/lib/Target/AMDGPU/SIInsertWaitcnts.cpp
--- a/llvm/lib/Target/AMDGPU/SIInsertWaitcnts.cpp
+++ b/llvm/lib/Target/AMDGPU/SIInsertWaitcnts.cpp
@@ -1521,8 +1521,13 @@
 
     if (TII->isSMRD(Inst)) {
       for (const MachineMemOperand *Memop : Inst.memoperands()) {
-        const Value *Ptr = Memop->getValue();
-        SLoadAddresses.insert(std::make_pair(Ptr, Inst.getParent()));
+        // No need to handle invariant loads when avoiding WAR conflicts, as
+        // there cannot be a vector store to the same memory location.
+        if (!Memop->isInvariant()) {
+          const Value *Ptr = Memop->getValue();
+          assert(Ptr);
+          SLoadAddresses.insert(std::make_pair(Ptr, Inst.getParent()));
+        }
       }
       if (ST->hasReadVCCZBug()) {
         // This smem read could complete and clobber vccz at any time.
diff --git a/llvm/test/CodeGen/AMDGPU/mul24-pass-ordering.ll b/llvm/test/CodeGen/AMDGPU/mul24-pass-ordering.ll
--- a/llvm/test/CodeGen/AMDGPU/mul24-pass-ordering.ll
+++ b/llvm/test/CodeGen/AMDGPU/mul24-pass-ordering.ll
@@ -187,49 +187,49 @@
 define void @slsr1_1(i32 %b.arg, i32 %s.arg) #0 {
 ; GFX9-LABEL: slsr1_1:
 ; GFX9:       ; %bb.0:
-; GFX9-NEXT:  s_waitcnt vmcnt(0) expcnt(0) lgkmcnt(0)
-; GFX9-NEXT:  s_or_saveexec_b64 s[4:5], -1
-; GFX9-NEXT:  buffer_store_dword v43, off, s[0:3], s32 offset:12 ; 4-byte Folded Spill
-; GFX9-NEXT:  s_mov_b64 exec, s[4:5]
-; GFX9-NEXT:  v_writelane_b32 v43, s33, 4
-; GFX9-NEXT:  s_mov_b32 s33, s32
-; GFX9-NEXT:  s_add_u32 s32, s32, 0x800
-; GFX9-NEXT:  v_writelane_b32 v43, s34, 0
-; GFX9-NEXT:  s_getpc_b64 s[4:5]
-; GFX9-NEXT:  s_add_u32 s4, s4, foo@gotpcrel32@lo+4
-; GFX9-NEXT:  s_addc_u32 s5, s5, foo@gotpcrel32@hi+12
-; GFX9-NEXT:  v_writelane_b32 v43, s35, 1
-; GFX9-NEXT:  s_load_dwordx2 s[34:35], s[4:5], 0x0
-; GFX9-NEXT:  s_waitcnt lgkmcnt(0)
-; GFX9-NEXT:  buffer_store_dword v40, off, s[0:3], s33 offset:8 ; 4-byte Folded Spill
-; GFX9-NEXT:  buffer_store_dword v41, off, s[0:3], s33 offset:4 ; 4-byte Folded Spill
-; GFX9-NEXT:  buffer_store_dword v42, off, s[0:3], s33 ; 4-byte Folded Spill
-; GFX9-NEXT:  v_mov_b32_e32 v40, v1
-; GFX9-NEXT:  v_mov_b32_e32 v41, v0
-; GFX9-NEXT:  v_writelane_b32 v43, s30, 2
-; GFX9-NEXT:  v_mul_u32_u24_e32 v0, v41, v40
-; GFX9-NEXT:  v_writelane_b32 v43, s31, 3
-; GFX9-NEXT:  v_and_b32_e32 v42, 0xffffff, v40
-; GFX9-NEXT:  s_swappc_b64 s[30:31], s[34:35]
-; GFX9-NEXT:  v_mad_u32_u24 v40, v41, v40, v42
-; GFX9-NEXT:  v_mov_b32_e32 v0, v40
-; GFX9-NEXT:  s_swappc_b64 s[30:31], s[34:35]
-; GFX9-NEXT:  v_add_u32_e32 v0, v40, v42
-; GFX9-NEXT:  s_swappc_b64 s[30:31], s[34:35]
-; GFX9-NEXT:  buffer_load_dword v42, off, s[0:3], s33 ; 4-byte Folded Reload
-; GFX9-NEXT:  buffer_load_dword v41, off, s[0:3], s33 offset:4 ; 4-byte Folded Reload
-; GFX9-NEXT:  buffer_load_dword v40, off, s[0:3], s33 offset:8 ; 4-byte Folded Reload
-; GFX9-NEXT:  v_readlane_b32 s4, v43, 2
-; GFX9-NEXT:  v_readlane_b32 s5, v43, 3
-; GFX9-NEXT:  v_readlane_b32 s35, v43, 1
-; GFX9-NEXT:  v_readlane_b32 s34, v43, 0
-; GFX9-NEXT:  s_sub_u32 s32, s32, 0x800
-; GFX9-NEXT:  v_readlane_b32 s33, v43, 4
-; GFX9-NEXT:  s_or_saveexec_b64 s[6:7], -1
-; GFX9-NEXT:  buffer_load_dword v43, off, s[0:3], s32 offset:12 ; 4-byte Folded Reload
-; GFX9-NEXT:  s_mov_b64 exec, s[6:7]
-; GFX9-NEXT:  s_waitcnt vmcnt(0)
-; GFX9-NEXT:  s_setpc_b64 s[4:5]
+; GFX9-NEXT:    s_waitcnt vmcnt(0) expcnt(0) lgkmcnt(0)
+; GFX9-NEXT:    s_or_saveexec_b64 s[4:5], -1
+; GFX9-NEXT:    buffer_store_dword v43, off, s[0:3], s32 offset:12 ; 4-byte Folded Spill
+; GFX9-NEXT:    s_mov_b64 exec, s[4:5]
+; GFX9-NEXT:    v_writelane_b32 v43, s33, 4
+; GFX9-NEXT:    s_mov_b32 s33, s32
+; GFX9-NEXT:    s_add_u32 s32, s32, 0x800
+; GFX9-NEXT:    v_writelane_b32 v43, s34, 0
+; GFX9-NEXT:    s_getpc_b64 s[4:5]
+; GFX9-NEXT:    s_add_u32 s4, s4, foo@gotpcrel32@lo+4
+; GFX9-NEXT:    s_addc_u32 s5, s5, foo@gotpcrel32@hi+12
+; GFX9-NEXT:    v_writelane_b32 v43, s35, 1
+; GFX9-NEXT:    s_load_dwordx2 s[34:35], s[4:5], 0x0
+; GFX9-NEXT:    buffer_store_dword v40, off, s[0:3], s33 offset:8 ; 4-byte Folded Spill
+; GFX9-NEXT:    buffer_store_dword v41, off, s[0:3], s33 offset:4 ; 4-byte Folded Spill
+; GFX9-NEXT:    buffer_store_dword v42, off, s[0:3], s33 ; 4-byte Folded Spill
+; GFX9-NEXT:    v_mov_b32_e32 v40, v1
+; GFX9-NEXT:    v_mov_b32_e32 v41, v0
+; GFX9-NEXT:    v_writelane_b32 v43, s30, 2
+; GFX9-NEXT:    v_mul_u32_u24_e32 v0, v41, v40
+; GFX9-NEXT:    v_writelane_b32 v43, s31, 3
+; GFX9-NEXT:    v_and_b32_e32 v42, 0xffffff, v40
+; GFX9-NEXT:    s_waitcnt lgkmcnt(0)
+; GFX9-NEXT:    s_swappc_b64 s[30:31], s[34:35]
+; GFX9-NEXT:    v_mad_u32_u24 v40, v41, v40, v42
+; GFX9-NEXT:    v_mov_b32_e32 v0, v40
+; GFX9-NEXT:    s_swappc_b64 s[30:31], s[34:35]
+; GFX9-NEXT:    v_add_u32_e32 v0, v40, v42
+; GFX9-NEXT:    s_swappc_b64 s[30:31], s[34:35]
+; GFX9-NEXT:    buffer_load_dword v42, off, s[0:3], s33 ; 4-byte Folded Reload
+; GFX9-NEXT:    buffer_load_dword v41, off, s[0:3], s33 offset:4 ; 4-byte Folded Reload
+; GFX9-NEXT:    buffer_load_dword v40, off, s[0:3], s33 offset:8 ; 4-byte Folded Reload
+; GFX9-NEXT:    v_readlane_b32 s4, v43, 2
+; GFX9-NEXT:    v_readlane_b32 s5, v43, 3
+; GFX9-NEXT:    v_readlane_b32 s35, v43, 1
+; GFX9-NEXT:    v_readlane_b32 s34, v43, 0
+; GFX9-NEXT:    s_sub_u32 s32, s32, 0x800
+; GFX9-NEXT:    v_readlane_b32 s33, v43, 4
+; GFX9-NEXT:    s_or_saveexec_b64 s[6:7], -1
+; GFX9-NEXT:    buffer_load_dword v43, off, s[0:3], s32 offset:12 ; 4-byte Folded Reload
+; GFX9-NEXT:    s_mov_b64 exec, s[6:7]
+; GFX9-NEXT:    s_waitcnt vmcnt(0)
+; GFX9-NEXT:    s_setpc_b64 s[4:5]
   %b = and i32 %b.arg, 16777215
   %s = and i32 %s.arg, 16777215
 
diff --git a/llvm/test/CodeGen/AMDGPU/stack-realign.ll b/llvm/test/CodeGen/AMDGPU/stack-realign.ll
--- a/llvm/test/CodeGen/AMDGPU/stack-realign.ll
+++ b/llvm/test/CodeGen/AMDGPU/stack-realign.ll
@@ -169,7 +169,7 @@
 ; GCN-NEXT: buffer_load_dword v{{[0-9]+}}, off, s[0:3], s34
 ; GCN-DAG: s_add_u32 s32, s32, 0x30000
 ; GCN: buffer_store_dword v{{[0-9]+}}, off, s[0:3], s32
-; GCN-NEXT: s_swappc_b64 s[30:31], s[4:5]
+; GCN: s_swappc_b64 s[30:31], s[4:5]
 
 ; GCN: s_sub_u32 s32, s32, 0x30000
 ; GCN-NEXT: v_readlane_b32 s33, [[VGPR_REG]], 2
diff --git a/llvm/test/CodeGen/AMDGPU/waitcnt-no-redundant.mir b/llvm/test/CodeGen/AMDGPU/waitcnt-no-redundant.mir
--- a/llvm/test/CodeGen/AMDGPU/waitcnt-no-redundant.mir
+++ b/llvm/test/CodeGen/AMDGPU/waitcnt-no-redundant.mir
@@ -23,3 +23,18 @@
     S_BRANCH %bb.1
 
 ...
+
+# Check that the waitcnt pass does *not* insert a waitcnt inst after S_BUFFER_LOAD.
+# WAR hazard does not apply here, because S_BUFFER_LOAD accesses invariant memory.
+...
+# CHECK-LABEL: name: waitcnt-no-war-wait
+# CHECK: S_WAITCNT 0
+# CHECK-NEXT: S_BUFFER_LOAD_DWORD_IMM
+# CHECK-NEXT: TBUFFER_STORE_FORMAT_X_OFFEN_exact
+name: waitcnt-no-war-wait
+body: |
+  bb.0:
+    renamable $sgpr8 = S_BUFFER_LOAD_DWORD_IMM renamable $sgpr0_sgpr1_sgpr2_sgpr3, 276, 0 :: (dereferenceable invariant load 4)
+    TBUFFER_STORE_FORMAT_X_OFFEN_exact killed renamable $vgpr0, renamable $vgpr15, renamable $sgpr4_sgpr5_sgpr6_sgpr7, renamable $sgpr9, 0, 116, 1, 0, 0, implicit $exec :: (dereferenceable store 4 into custom "BufferResource", align 1, addrspace 4)
+
+...