diff --git a/llvm/lib/Transforms/InstCombine/InstCombineCalls.cpp b/llvm/lib/Transforms/InstCombine/InstCombineCalls.cpp
--- a/llvm/lib/Transforms/InstCombine/InstCombineCalls.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombineCalls.cpp
@@ -1050,6 +1050,13 @@
       return NewCall;
   }
 
+  if (auto *ConstrainedIntr = dyn_cast<ConstrainedFPIntrinsic>(II)) {
+    if (Value *V = transformConstrainedCall(*ConstrainedIntr)) {
+      CI.replaceAllUsesWith(V);
+      return ConstrainedIntr;
+    }
+  }
+
   Intrinsic::ID IID = II->getIntrinsicID();
   switch (IID) {
   case Intrinsic::objectsize:
@@ -3359,3 +3366,12 @@
   Call.setCalledFunction(FTy, NewCallee);
   return &Call;
 }
+
+Value *InstCombinerImpl::transformConstrainedCall(ConstrainedFPIntrinsic &CI) {
+  if (Value *Res = SimplifyInstruction(&CI, SQ.getWithInstruction(&CI))) {
+    if (CI.getNumUses() == 0)
+      CI.addFnAttr(Attribute::ReadNone);
+    return Res;
+  }
+  return nullptr;
+}
diff --git a/llvm/lib/Transforms/InstCombine/InstCombineInternal.h b/llvm/lib/Transforms/InstCombine/InstCombineInternal.h
--- a/llvm/lib/Transforms/InstCombine/InstCombineInternal.h
+++ b/llvm/lib/Transforms/InstCombine/InstCombineInternal.h
@@ -233,6 +233,7 @@
   bool transformConstExprCastCall(CallBase &Call);
   Instruction *transformCallThroughTrampoline(CallBase &Call,
                                               IntrinsicInst &Tramp);
+  Value *transformConstrainedCall(ConstrainedFPIntrinsic &CI);
 
   Value *simplifyMaskedLoad(IntrinsicInst &II);
   Instruction *simplifyMaskedStore(IntrinsicInst &II);
diff --git a/llvm/test/Transforms/InstCombine/constrained.ll b/llvm/test/Transforms/InstCombine/constrained.ll
new file mode 100644
--- /dev/null
+++ b/llvm/test/Transforms/InstCombine/constrained.ll
@@ -0,0 +1,125 @@
+; NOTE: Assertions have been autogenerated by utils/update_test_checks.py
+; RUN: opt -S -instcombine %s | FileCheck %s
+
+; Treatment of operation with unused result.
+
+; If operation does not raise exceptions, it may be removed even in strict mode.
+define float @f_unused_precise() #0 {
+; CHECK-LABEL: @f_unused_precise(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 1.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fadd.f32(float 1.0, float 1.0, metadata !"round.upward", metadata !"fpexcept.strict") #0
+  ret float 1.0
+}
+
+; If operation raises exceptions, it cannot be removed in strict mode.
+define float @f_unused_strict() #0 {
+; CHECK-LABEL: @f_unused_strict(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[RESULT:%.*]] = call float @llvm.experimental.constrained.fdiv.f32(float 1.000000e+00, float 3.000000e+00, metadata !"round.tonearest", metadata !"fpexcept.strict") #[[ATTR0:[0-9]+]]
+; CHECK-NEXT:    ret float 1.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.tonearest", metadata !"fpexcept.strict") #0
+  ret float 1.0
+}
+
+; If operation raises exceptions, it can be removed in non-strict mode.
+define float @f_unused_ignore() #0 {
+; CHECK-LABEL: @f_unused_ignore(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 1.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.towardzero", metadata !"fpexcept.ignore") #0
+  ret float 1.0
+}
+
+; If operation raises exceptions, it can be removed in non-strict mode even if rounding mode is dynamic.
+define float @f_unused_dynamic_ignore() #0 {
+; CHECK-LABEL: @f_unused_dynamic_ignore(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 1.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.dynamic", metadata !"fpexcept.ignore") #0
+  ret float 1.0
+}
+
+; If operation raises exceptions, it can be removed in "maytrap" mode.
+define float @f_unused_maytrap() #0 {
+; CHECK-LABEL: @f_unused_maytrap(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 1.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.tonearest", metadata !"fpexcept.maytrap") #0
+  ret float 1.0
+}
+
+; Constant evaluation.
+
+; If operation does not raise exceptions, it may be folded even in strict mode.
+define float @f_eval_precise() #0 {
+; CHECK-LABEL: @f_eval_precise(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 2.000000e+00
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fadd.f32(float 1.0, float 1.0, metadata !"round.upward", metadata !"fpexcept.strict") #0
+  ret float %result
+}
+
+; If operation raises exceptions, it cannot be folded in strict mode.
+define float @f_eval_strict() #0 {
+; CHECK-LABEL: @f_eval_strict(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[RESULT:%.*]] = call float @llvm.experimental.constrained.fdiv.f32(float 1.000000e+00, float 3.000000e+00, metadata !"round.upward", metadata !"fpexcept.strict") #[[ATTR0]]
+; CHECK-NEXT:    ret float [[RESULT]]
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.upward", metadata !"fpexcept.strict") #0
+  ret float %result
+}
+
+; If operation raises exceptions, it can be folded in non-strict mode.
+define float @f_eval_ignore() #0 {
+; CHECK-LABEL: @f_eval_ignore(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 0x3FD5555540000000
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.downward", metadata !"fpexcept.ignore") #0
+  ret float %result
+}
+
+; if result is imprecise, it cannot be folded if rounding mode is dynamic.
+define float @f_eval_dynamic_ignore() #0 {
+; CHECK-LABEL: @f_eval_dynamic_ignore(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    [[RESULT:%.*]] = call float @llvm.experimental.constrained.fdiv.f32(float 1.000000e+00, float 3.000000e+00, metadata !"round.dynamic", metadata !"fpexcept.ignore") #[[ATTR0]]
+; CHECK-NEXT:    ret float [[RESULT]]
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.dynamic", metadata !"fpexcept.ignore") #0
+  ret float %result
+}
+
+; If result is imprecise and rounding mode is not dynamic, operation can be folded in "maytrap" mode.
+define float @f_eval_maytrap() #0 {
+; CHECK-LABEL: @f_eval_maytrap(
+; CHECK-NEXT:  entry:
+; CHECK-NEXT:    ret float 0x3FD5555560000000
+;
+entry:
+  %result = call float @llvm.experimental.constrained.fdiv.f32(float 1.0, float 3.0, metadata !"round.tonearest", metadata !"fpexcept.maytrap") #0
+  ret float %result
+}
+
+
+declare float @llvm.experimental.constrained.fadd.f32(float, float, metadata, metadata)
+declare float @llvm.experimental.constrained.fdiv.f32(float, float, metadata, metadata)
+
+attributes #0 = { strictfp }