diff --git a/llvm/lib/Transforms/IPO/GlobalOpt.cpp b/llvm/lib/Transforms/IPO/GlobalOpt.cpp
--- a/llvm/lib/Transforms/IPO/GlobalOpt.cpp
+++ b/llvm/lib/Transforms/IPO/GlobalOpt.cpp
@@ -393,8 +393,24 @@
       if (isa<ScalableVectorType>(Ty))
         return false;
 
+      auto IsStored = [GV](Value *V) {
+        auto *SI = dyn_cast<StoreInst>(V);
+        if (!SI)
+          return false;
+
+        auto *GlobalVar = dyn_cast<GlobalVariable>(GV);
+        Constant *StoredConst = dyn_cast<Constant>(SI->getOperand(0));
+        if (!GlobalVar || !StoredConst)
+          return true;
+
+        // Don't consider stores that only write the initializer value.
+        return StoredConst != GlobalVar->getInitializer() &&
+               !(StoredConst->isNullValue() &&
+                 GlobalVar->getInitializer()->isNullValue());
+      };
+
       It->second.IsLoaded |= isa<LoadInst>(V);
-      It->second.IsStored |= isa<StoreInst>(V);
+      It->second.IsStored |= IsStored(V);
       continue;
     }
 
diff --git a/llvm/test/Transforms/GlobalOpt/sra-many-stores.ll b/llvm/test/Transforms/GlobalOpt/sra-many-stores.ll
--- a/llvm/test/Transforms/GlobalOpt/sra-many-stores.ll
+++ b/llvm/test/Transforms/GlobalOpt/sra-many-stores.ll
@@ -8,6 +8,7 @@
 
 ;.
 ; CHECK: @[[A:[a-zA-Z0-9_$"\\.-]+]] = global i8 0, align 4
+; CHECK: @[[C:[a-zA-Z0-9_$"\\.-]+]] = global ptr null
 ;.
 define internal void @read_struct() {
 ; CHECK-LABEL: @read_struct(
@@ -189,57 +190,23 @@
 define void @store_initializer() {
 ; CHECK-LABEL: @store_initializer(
 ; CHECK-NEXT:  entry:
-; CHECK-NEXT:    store ptr null, ptr @global.20ptr, align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR:%.*]], ptr @global.20ptr, i64 0, i32 1), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 2), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 3), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 4), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 5), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 6), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 7), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 8), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 9), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 10), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 11), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 12), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 13), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 14), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 15), align 8
-; CHECK-NEXT:    store ptr null, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 16), align 8
-; CHECK-NEXT:    [[L0:%.*]] = load ptr, ptr @global.20ptr, align 8
-; CHECK-NEXT:    store volatile ptr [[L0]], ptr @c, align 8
-; CHECK-NEXT:    [[L1:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 1), align 8
-; CHECK-NEXT:    store volatile ptr [[L1]], ptr @c, align 8
-; CHECK-NEXT:    [[L2:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 2), align 8
-; CHECK-NEXT:    store volatile ptr [[L2]], ptr @c, align 8
-; CHECK-NEXT:    [[L3:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 3), align 8
-; CHECK-NEXT:    store volatile ptr [[L3]], ptr @c, align 8
-; CHECK-NEXT:    [[L4:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 4), align 8
-; CHECK-NEXT:    store volatile ptr [[L4]], ptr @c, align 8
-; CHECK-NEXT:    [[L5:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 5), align 8
-; CHECK-NEXT:    store volatile ptr [[L5]], ptr @c, align 8
-; CHECK-NEXT:    [[L6:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 6), align 8
-; CHECK-NEXT:    store volatile ptr [[L6]], ptr @c, align 8
-; CHECK-NEXT:    [[L7:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 7), align 8
-; CHECK-NEXT:    store volatile ptr [[L7]], ptr @c, align 8
-; CHECK-NEXT:    [[L8:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 8), align 8
-; CHECK-NEXT:    store volatile ptr [[L8]], ptr @c, align 8
-; CHECK-NEXT:    [[L9:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 9), align 8
-; CHECK-NEXT:    store volatile ptr [[L9]], ptr @c, align 8
-; CHECK-NEXT:    [[L10:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 10), align 8
-; CHECK-NEXT:    store volatile ptr [[L10]], ptr @c, align 8
-; CHECK-NEXT:    [[L11:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 11), align 8
-; CHECK-NEXT:    store volatile ptr [[L11]], ptr @c, align 8
-; CHECK-NEXT:    [[L12:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 12), align 8
-; CHECK-NEXT:    store volatile ptr [[L12]], ptr @c, align 8
-; CHECK-NEXT:    [[L13:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 13), align 8
-; CHECK-NEXT:    store volatile ptr [[L13]], ptr @c, align 8
-; CHECK-NEXT:    [[L14:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 14), align 8
-; CHECK-NEXT:    store volatile ptr [[L14]], ptr @c, align 8
-; CHECK-NEXT:    [[L15:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 15), align 8
-; CHECK-NEXT:    store volatile ptr [[L15]], ptr @c, align 8
-; CHECK-NEXT:    [[L16:%.*]] = load ptr, ptr getelementptr inbounds ([[STRUCT_20PTR]], ptr @global.20ptr, i64 0, i32 16), align 8
-; CHECK-NEXT:    store volatile ptr [[L16]], ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
+; CHECK-NEXT:    store volatile ptr null, ptr @c, align 8
 ; CHECK-NEXT:    ret void
 ;
 entry: