diff --git a/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp b/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
--- a/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
+++ b/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
@@ -9549,6 +9549,9 @@
   SmallVector<ShuffledInsertData> ShuffledInserts;
   // Maps vector instruction to original insertelement instruction
   DenseMap<Value *, InsertElementInst *> VectorToInsertElement;
+  // Maps extract Scalar to the corresponding extractelement instruction in the
+  // basic block. Only one extractelement per block should be emitted.
+  DenseMap<Value *, DenseMap<BasicBlock *, Value *>> ScalarToEEs;
   // Extract all of the elements with the external uses.
   for (const auto &ExternalUse : ExternalUses) {
     Value *Scalar = ExternalUse.Scalar;
@@ -9573,13 +9576,29 @@
     Value *Lane = Builder.getInt32(ExternalUse.Lane);
     auto ExtractAndExtendIfNeeded = [&](Value *Vec) {
       if (Scalar->getType() != Vec->getType()) {
-        Value *Ex;
-        // "Reuse" the existing extract to improve final codegen.
-        if (auto *ES = dyn_cast<ExtractElementInst>(Scalar)) {
-          Ex = Builder.CreateExtractElement(ES->getOperand(0),
-                                            ES->getOperand(1));
-        } else {
-          Ex = Builder.CreateExtractElement(Vec, Lane);
+        Value *Ex = nullptr;
+        auto It = ScalarToEEs.find(Scalar);
+        if (It != ScalarToEEs.end()) {
+          // No need to emit many extracts, just move the only one in the
+          // current block.
+          auto EEIt = It->second.find(Builder.GetInsertBlock());
+          if (EEIt != It->second.end()) {
+            auto *I = cast<Instruction>(EEIt->second);
+            if (Builder.GetInsertPoint() != Builder.GetInsertBlock()->end() &&
+                Builder.GetInsertPoint()->comesBefore(I))
+              I->moveBefore(&*Builder.GetInsertPoint());
+            Ex = I;
+          }
+        }
+        if (!Ex) {
+          // "Reuse" the existing extract to improve final codegen.
+          if (auto *ES = dyn_cast<ExtractElementInst>(Scalar)) {
+            Ex = Builder.CreateExtractElement(ES->getOperand(0),
+                                              ES->getOperand(1));
+          } else {
+            Ex = Builder.CreateExtractElement(Vec, Lane);
+          }
+          ScalarToEEs[Scalar].try_emplace(Builder.GetInsertBlock(), Ex);
         }
         // The then branch of the previous if may produce constants, since 0
         // operand might be a constant.
@@ -9610,8 +9629,11 @@
              "Scalar with nullptr as an external user must be registered in "
              "ExternallyUsedValues map");
       if (auto *VecI = dyn_cast<Instruction>(Vec)) {
-        Builder.SetInsertPoint(VecI->getParent(),
-                               std::next(VecI->getIterator()));
+        if (auto *PHI = dyn_cast<PHINode>(VecI))
+            Builder.SetInsertPoint(PHI->getParent()->getFirstNonPHI());
+        else
+            Builder.SetInsertPoint(VecI->getParent(),
+                                   std::next(VecI->getIterator()));
       } else {
         Builder.SetInsertPoint(&F->getEntryBlock().front());
       }
diff --git a/llvm/test/Transforms/SLPVectorizer/X86/pr35497.ll b/llvm/test/Transforms/SLPVectorizer/X86/pr35497.ll
--- a/llvm/test/Transforms/SLPVectorizer/X86/pr35497.ll
+++ b/llvm/test/Transforms/SLPVectorizer/X86/pr35497.ll
@@ -75,13 +75,13 @@
 ; SSE-NEXT:    [[TMP2:%.*]] = shl <2 x i64> [[TMP1]], <i64 2, i64 2>
 ; SSE-NEXT:    [[TMP3:%.*]] = and <2 x i64> [[TMP2]], <i64 20, i64 20>
 ; SSE-NEXT:    [[TMP4:%.*]] = add nuw nsw <2 x i64> [[TMP3]], zeroinitializer
-; SSE-NEXT:    [[TMP5:%.*]] = extractelement <2 x i64> [[TMP4]], i32 1
-; SSE-NEXT:    [[TMP6:%.*]] = bitcast i64* [[ARRAYIDX2_6]] to <2 x i64>*
-; SSE-NEXT:    store <2 x i64> [[TMP4]], <2 x i64>* [[TMP6]], align 1
-; SSE-NEXT:    [[TMP7:%.*]] = insertelement <2 x i64> poison, i64 [[TMP5]], i32 0
-; SSE-NEXT:    [[TMP8:%.*]] = insertelement <2 x i64> [[TMP7]], i64 [[ADD]], i32 1
-; SSE-NEXT:    [[TMP9:%.*]] = shl <2 x i64> [[TMP8]], <i64 2, i64 2>
-; SSE-NEXT:    [[TMP10:%.*]] = and <2 x i64> [[TMP9]], <i64 20, i64 20>
+; SSE-NEXT:    [[TMP5:%.*]] = bitcast i64* [[ARRAYIDX2_6]] to <2 x i64>*
+; SSE-NEXT:    store <2 x i64> [[TMP4]], <2 x i64>* [[TMP5]], align 1
+; SSE-NEXT:    [[TMP6:%.*]] = insertelement <2 x i64> poison, i64 [[ADD]], i32 0
+; SSE-NEXT:    [[TMP7:%.*]] = shufflevector <2 x i64> [[TMP6]], <2 x i64> [[TMP4]], <2 x i32> <i32 0, i32 3>
+; SSE-NEXT:    [[TMP8:%.*]] = shl <2 x i64> [[TMP7]], <i64 2, i64 2>
+; SSE-NEXT:    [[TMP9:%.*]] = and <2 x i64> [[TMP8]], <i64 20, i64 20>
+; SSE-NEXT:    [[TMP10:%.*]] = shufflevector <2 x i64> [[TMP9]], <2 x i64> poison, <2 x i32> <i32 1, i32 0>
 ; SSE-NEXT:    [[TMP11:%.*]] = lshr <2 x i64> [[TMP4]], <i64 6, i64 6>
 ; SSE-NEXT:    [[TMP12:%.*]] = add nuw nsw <2 x i64> [[TMP10]], [[TMP11]]
 ; SSE-NEXT:    [[TMP13:%.*]] = bitcast i64* [[ARRAYIDX2_2]] to <2 x i64>*
@@ -99,13 +99,13 @@
 ; AVX-NEXT:    [[TMP2:%.*]] = shl <2 x i64> [[TMP1]], <i64 2, i64 2>
 ; AVX-NEXT:    [[TMP3:%.*]] = and <2 x i64> [[TMP2]], <i64 20, i64 20>
 ; AVX-NEXT:    [[TMP4:%.*]] = add nuw nsw <2 x i64> [[TMP3]], zeroinitializer
-; AVX-NEXT:    [[TMP5:%.*]] = extractelement <2 x i64> [[TMP4]], i32 1
-; AVX-NEXT:    [[TMP6:%.*]] = bitcast i64* [[ARRAYIDX2_6]] to <2 x i64>*
-; AVX-NEXT:    store <2 x i64> [[TMP4]], <2 x i64>* [[TMP6]], align 1
-; AVX-NEXT:    [[TMP7:%.*]] = insertelement <2 x i64> poison, i64 [[TMP5]], i32 0
-; AVX-NEXT:    [[TMP8:%.*]] = insertelement <2 x i64> [[TMP7]], i64 [[ADD]], i32 1
-; AVX-NEXT:    [[TMP9:%.*]] = shl <2 x i64> [[TMP8]], <i64 2, i64 2>
-; AVX-NEXT:    [[TMP10:%.*]] = and <2 x i64> [[TMP9]], <i64 20, i64 20>
+; AVX-NEXT:    [[TMP5:%.*]] = bitcast i64* [[ARRAYIDX2_6]] to <2 x i64>*
+; AVX-NEXT:    store <2 x i64> [[TMP4]], <2 x i64>* [[TMP5]], align 1
+; AVX-NEXT:    [[TMP6:%.*]] = insertelement <2 x i64> poison, i64 [[ADD]], i32 0
+; AVX-NEXT:    [[TMP7:%.*]] = shufflevector <2 x i64> [[TMP6]], <2 x i64> [[TMP4]], <2 x i32> <i32 0, i32 3>
+; AVX-NEXT:    [[TMP8:%.*]] = shl <2 x i64> [[TMP7]], <i64 2, i64 2>
+; AVX-NEXT:    [[TMP9:%.*]] = and <2 x i64> [[TMP8]], <i64 20, i64 20>
+; AVX-NEXT:    [[TMP10:%.*]] = shufflevector <2 x i64> [[TMP9]], <2 x i64> poison, <2 x i32> <i32 1, i32 0>
 ; AVX-NEXT:    [[TMP11:%.*]] = lshr <2 x i64> [[TMP4]], <i64 6, i64 6>
 ; AVX-NEXT:    [[TMP12:%.*]] = add nuw nsw <2 x i64> [[TMP10]], [[TMP11]]
 ; AVX-NEXT:    [[TMP13:%.*]] = bitcast i64* [[ARRAYIDX2_2]] to <2 x i64>*