diff --git a/clang/test/CodeGen/thinlto-distributed-newpm.ll b/clang/test/CodeGen/thinlto-distributed-newpm.ll
--- a/clang/test/CodeGen/thinlto-distributed-newpm.ll
+++ b/clang/test/CodeGen/thinlto-distributed-newpm.ll
@@ -165,7 +165,6 @@
 ; CHECK-O: Running pass: InstSimplifyPass on main
 ; CHECK-O: Running pass: DivRemPairsPass on main
 ; CHECK-O: Running pass: SimplifyCFGPass on main
-; CHECK-O: Running pass: SpeculateAroundPHIsPass on main
 ; CHECK-O: Running pass: CGProfilePass
 ; CHECK-O: Running pass: GlobalDCEPass
 ; CHECK-O: Running pass: ConstantMergePass
diff --git a/llvm/lib/Passes/PassBuilder.cpp b/llvm/lib/Passes/PassBuilder.cpp
--- a/llvm/lib/Passes/PassBuilder.cpp
+++ b/llvm/lib/Passes/PassBuilder.cpp
@@ -1443,11 +1443,6 @@
   // resulted in single-entry-single-exit or empty blocks. Clean up the CFG.
   OptimizePM.addPass(SimplifyCFGPass());
 
-  // Optimize PHIs by speculating around them when profitable. Note that this
-  // pass needs to be run after any PRE or similar pass as it is essentially
-  // inserting redundancies into the program. This even includes SimplifyCFG.
-  OptimizePM.addPass(SpeculateAroundPHIsPass());
-
   if (PTO.Coroutines)
     OptimizePM.addPass(CoroCleanupPass());
 
diff --git a/llvm/test/Other/new-pm-defaults.ll b/llvm/test/Other/new-pm-defaults.ll
--- a/llvm/test/Other/new-pm-defaults.ll
+++ b/llvm/test/Other/new-pm-defaults.ll
@@ -237,7 +237,6 @@
 ; CHECK-O-NEXT: Running pass: InstSimplifyPass
 ; CHECK-O-NEXT: Running pass: DivRemPairsPass
 ; CHECK-O-NEXT: Running pass: SimplifyCFGPass
-; CHECK-O-NEXT: Running pass: SpeculateAroundPHIsPass
 ; CHECK-EP-OPTIMIZER-LAST: Running pass: NoOpFunctionPass
 ; CHECK-O-NEXT: Running pass: CGProfilePass
 ; CHECK-O-NEXT: Running pass: GlobalDCEPass
diff --git a/llvm/test/Other/new-pm-thinlto-defaults.ll b/llvm/test/Other/new-pm-thinlto-defaults.ll
--- a/llvm/test/Other/new-pm-thinlto-defaults.ll
+++ b/llvm/test/Other/new-pm-thinlto-defaults.ll
@@ -218,7 +218,6 @@
 ; CHECK-POSTLINK-O-NEXT: Running pass: InstSimplifyPass
 ; CHECK-POSTLINK-O-NEXT: Running pass: DivRemPairsPass
 ; CHECK-POSTLINK-O-NEXT: Running pass: SimplifyCFGPass
-; CHECK-POSTLINK-O-NEXT: Running pass: SpeculateAroundPHIsPass
 ; CHECK-POSTLINK-O-NEXT: Running pass: CGProfilePass
 ; CHECK-POSTLINK-O-NEXT: Running pass: GlobalDCEPass
 ; CHECK-POSTLINK-O-NEXT: Running pass: ConstantMergePass
diff --git a/llvm/test/Other/new-pm-thinlto-postlink-pgo-defaults.ll b/llvm/test/Other/new-pm-thinlto-postlink-pgo-defaults.ll
--- a/llvm/test/Other/new-pm-thinlto-postlink-pgo-defaults.ll
+++ b/llvm/test/Other/new-pm-thinlto-postlink-pgo-defaults.ll
@@ -187,7 +187,6 @@
 ; CHECK-O-NEXT: Running pass: InstSimplifyPass
 ; CHECK-O-NEXT: Running pass: DivRemPairsPass
 ; CHECK-O-NEXT: Running pass: SimplifyCFGPass
-; CHECK-O-NEXT: Running pass: SpeculateAroundPHIsPass
 ; CHECK-O-NEXT: Running pass: CGProfilePass
 ; CHECK-O-NEXT: Running pass: GlobalDCEPass
 ; CHECK-O-NEXT: Running pass: ConstantMergePass
diff --git a/llvm/test/Other/new-pm-thinlto-postlink-samplepgo-defaults.ll b/llvm/test/Other/new-pm-thinlto-postlink-samplepgo-defaults.ll
--- a/llvm/test/Other/new-pm-thinlto-postlink-samplepgo-defaults.ll
+++ b/llvm/test/Other/new-pm-thinlto-postlink-samplepgo-defaults.ll
@@ -199,7 +199,6 @@
 ; CHECK-O-NEXT: Running pass: InstSimplifyPass
 ; CHECK-O-NEXT: Running pass: DivRemPairsPass
 ; CHECK-O-NEXT: Running pass: SimplifyCFGPass
-; CHECK-O-NEXT: Running pass: SpeculateAroundPHIsPass
 ; CHECK-O-NEXT: Running pass: CGProfilePass
 ; CHECK-O-NEXT: Running pass: GlobalDCEPass
 ; CHECK-O-NEXT: Running pass: ConstantMergePass