diff --git a/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp b/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
--- a/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
@@ -3254,15 +3254,20 @@
   if (!WO)
     return nullptr;
 
-  // extractvalue (any_mul_with_overflow X, -1), 0 --> -X
   Intrinsic::ID OvID = WO->getIntrinsicID();
   const APInt *C = nullptr;
   if (match(WO->getRHS(), m_APIntAllowUndef(C))) {
-    if (*EV.idx_begin() == 0 &&
-        (OvID == Intrinsic::smul_with_overflow ||
-         OvID == Intrinsic::umul_with_overflow) &&
-        C->isAllOnes()) {
-      return BinaryOperator::CreateNeg(WO->getArgOperand(0));
+    if (*EV.idx_begin() == 0 && (OvID == Intrinsic::smul_with_overflow ||
+                                 OvID == Intrinsic::umul_with_overflow)) {
+      // extractvalue (any_mul_with_overflow X, -1), 0 --> -X
+      if (C->isAllOnes())
+        return BinaryOperator::CreateNeg(WO->getLHS());
+      // extractvalue (any_mul_with_overflow X, 2^n), 0 --> X << n
+      if (C->isPowerOf2()) {
+        return BinaryOperator::CreateShl(
+            WO->getLHS(),
+            ConstantInt::get(WO->getLHS()->getType(), C->logBase2()));
+      }
     }
   }
 
diff --git a/llvm/test/Transforms/InstCombine/with_overflow.ll b/llvm/test/Transforms/InstCombine/with_overflow.ll
--- a/llvm/test/Transforms/InstCombine/with_overflow.ll
+++ b/llvm/test/Transforms/InstCombine/with_overflow.ll
@@ -254,11 +254,10 @@
 
 define i32 @umultest4(i32 %n) nounwind {
 ; CHECK-LABEL: @umultest4(
-; CHECK-NEXT:    [[SHR:%.*]] = lshr i32 [[N:%.*]], 1
-; CHECK-NEXT:    [[MUL:%.*]] = call { i32, i1 } @llvm.umul.with.overflow.i32(i32 [[SHR]], i32 4)
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i32, i1 } [[MUL]], 1
-; CHECK-NEXT:    [[RES:%.*]] = extractvalue { i32, i1 } [[MUL]], 0
-; CHECK-NEXT:    [[RET:%.*]] = select i1 [[OV]], i32 -1, i32 [[RES]]
+; CHECK-NEXT:    [[TMP1:%.*]] = shl i32 [[N:%.*]], 1
+; CHECK-NEXT:    [[RES:%.*]] = and i32 [[TMP1]], -4
+; CHECK-NEXT:    [[OV_INV:%.*]] = icmp sgt i32 [[N]], -1
+; CHECK-NEXT:    [[RET:%.*]] = select i1 [[OV_INV]], i32 [[RES]], i32 -1
 ; CHECK-NEXT:    ret i32 [[RET]]
 ;
   %shr = lshr i32 %n, 1
@@ -890,13 +889,10 @@
   ret i8 %r
 }
 
-; TODO: this could be 'shl' and 'icmp'
-
 define i8 @umul_2(i8 %x, i1* %p) {
 ; CHECK-LABEL: @umul_2(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.umul.with.overflow.i8(i8 [[X:%.*]], i8 2)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 1
+; CHECK-NEXT:    [[OV:%.*]] = icmp slt i8 [[X]], 0
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -909,9 +905,8 @@
 
 define i8 @umul_8(i8 %x, i1* %p) {
 ; CHECK-LABEL: @umul_8(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.umul.with.overflow.i8(i8 [[X:%.*]], i8 8)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 3
+; CHECK-NEXT:    [[OV:%.*]] = icmp ugt i8 [[X]], 31
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -924,9 +919,8 @@
 
 define i8 @umul_64(i8 %x, i1* %p) {
 ; CHECK-LABEL: @umul_64(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.umul.with.overflow.i8(i8 [[X:%.*]], i8 64)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 6
+; CHECK-NEXT:    [[OV:%.*]] = icmp ugt i8 [[X]], 3
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -949,6 +943,8 @@
   ret i8 %r
 }
 
+; Negative test: not PowerOf2
+
 define i8 @umul_3(i8 %x, i1* %p) {
 ; CHECK-LABEL: @umul_3(
 ; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.umul.with.overflow.i8(i8 [[X:%.*]], i8 3)
@@ -966,9 +962,9 @@
 
 define i8 @smul_4(i8 %x, i1* %p) {
 ; CHECK-LABEL: @smul_4(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.smul.with.overflow.i8(i8 [[X:%.*]], i8 4)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 2
+; CHECK-NEXT:    [[TMP1:%.*]] = add i8 [[X]], -32
+; CHECK-NEXT:    [[OV:%.*]] = icmp ult i8 [[TMP1]], -64
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -981,9 +977,9 @@
 
 define i8 @smul_16(i8 %x, i1* %p) {
 ; CHECK-LABEL: @smul_16(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.smul.with.overflow.i8(i8 [[X:%.*]], i8 16)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 4
+; CHECK-NEXT:    [[TMP1:%.*]] = add i8 [[X]], -8
+; CHECK-NEXT:    [[OV:%.*]] = icmp ult i8 [[TMP1]], -16
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -996,9 +992,9 @@
 
 define i8 @smul_32(i8 %x, i1* %p) {
 ; CHECK-LABEL: @smul_32(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.smul.with.overflow.i8(i8 [[X:%.*]], i8 32)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 5
+; CHECK-NEXT:    [[TMP1:%.*]] = add i8 [[X]], -4
+; CHECK-NEXT:    [[OV:%.*]] = icmp ult i8 [[TMP1]], -8
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -1011,9 +1007,8 @@
 
 define i8 @smul_128(i8 %x, i1* %p) {
 ; CHECK-LABEL: @smul_128(
-; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.smul.with.overflow.i8(i8 [[X:%.*]], i8 -128)
-; CHECK-NEXT:    [[R:%.*]] = extractvalue { i8, i1 } [[M]], 0
-; CHECK-NEXT:    [[OV:%.*]] = extractvalue { i8, i1 } [[M]], 1
+; CHECK-NEXT:    [[R:%.*]] = shl i8 [[X:%.*]], 7
+; CHECK-NEXT:    [[OV:%.*]] = icmp ugt i8 [[X]], 1
 ; CHECK-NEXT:    store i1 [[OV]], i1* [[P:%.*]], align 1
 ; CHECK-NEXT:    ret i8 [[R]]
 ;
@@ -1024,6 +1019,8 @@
   ret i8 %r
 }
 
+; Negative test: not PowerOf2
+
 define i8 @smul_7(i8 %x, i1* %p) {
 ; CHECK-LABEL: @smul_7(
 ; CHECK-NEXT:    [[M:%.*]] = tail call { i8, i1 } @llvm.smul.with.overflow.i8(i8 [[X:%.*]], i8 7)