diff --git a/llvm/lib/Transforms/InstCombine/InstCombineMulDivRem.cpp b/llvm/lib/Transforms/InstCombine/InstCombineMulDivRem.cpp
--- a/llvm/lib/Transforms/InstCombine/InstCombineMulDivRem.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombineMulDivRem.cpp
@@ -188,6 +188,27 @@
 static Value *takeLog2(IRBuilderBase &Builder, Value *Op, unsigned Depth,
                        bool AssumeNonZero, bool DoFold);
 
+// Return std::nullopt if we should not fold. Return true if we should fold
+// multi-use select and false for single-use select.
+static std::optional<bool>
+shouldFoldOpIntoSelect(BinaryOperator &I, Value *Op, Value *OpOther,
+                       const SimplifyQuery *Q = nullptr,
+                       const TargetLibraryInfo *TLI = nullptr) {
+  assert((Q == nullptr) == (TLI == nullptr));
+  if (isa<SelectInst>(Op)) {
+    // If we will be able to constant fold the incorperated binop, then
+    // multi-use. Otherwise single-use.
+    if (match(OpOther, m_ImmConstant()) &&
+        match(Op, m_Select(m_Value(), m_ImmConstant(), m_ImmConstant())))
+      return true;
+    else if (!Q || !TLI ||
+             isSafeToSpeculativelyExecute(&I, Q->CxtI, Q->AC, Q->DT, TLI))
+      return false;
+  }
+
+  return std::nullopt;
+}
+
 Instruction *InstCombinerImpl::visitMul(BinaryOperator &I) {
   Value *Op0 = I.getOperand(0), *Op1 = I.getOperand(1);
   if (Value *V =
@@ -505,6 +526,14 @@
     return Shl;
   }
 
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op0, Op1))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op0), *MultiUse))
+      return R;
+
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op1, Op0))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op1), *MultiUse))
+      return R;
+
   bool Changed = false;
   if (!HasNSW && willNotOverflowSignedMul(Op0, Op1, I)) {
     Changed = true;
@@ -1003,12 +1032,14 @@
   // If the divisor is a select-of-constants, try to constant fold all div ops:
   // C / (select Cond, TrueC, FalseC) --> select Cond, (C / TrueC), (C / FalseC)
   // TODO: Adapt simplifyDivRemOfSelectWithZeroOp to allow this and other folds.
-  if (match(Op0, m_ImmConstant()) &&
-      match(Op1, m_Select(m_Value(), m_ImmConstant(), m_ImmConstant()))) {
-    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op1),
-                                          /*FoldWithMultiUse*/ true))
+  const SimplifyQuery Q = SQ.getWithInstruction(&I);
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op0, Op1, &Q, &TLI))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op0), *MultiUse))
+      return R;
+
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op1, Op0, &Q, &TLI))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op1), *MultiUse))
       return R;
-  }
 
   const APInt *C2;
   if (match(Op1, m_APInt(C2))) {
@@ -1837,12 +1868,14 @@
   // If the divisor is a select-of-constants, try to constant fold all rem ops:
   // C % (select Cond, TrueC, FalseC) --> select Cond, (C % TrueC), (C % FalseC)
   // TODO: Adapt simplifyDivRemOfSelectWithZeroOp to allow this and other folds.
-  if (match(Op0, m_ImmConstant()) &&
-      match(Op1, m_Select(m_Value(), m_ImmConstant(), m_ImmConstant()))) {
-    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op1),
-                                          /*FoldWithMultiUse*/ true))
+  const SimplifyQuery Q = SQ.getWithInstruction(&I);
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op0, Op1, &Q, &TLI))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op0), *MultiUse))
+      return R;
+
+  if (auto MultiUse = shouldFoldOpIntoSelect(I, Op1, Op0, &Q, &TLI))
+    if (Instruction *R = FoldOpIntoSelect(I, cast<SelectInst>(Op1), *MultiUse))
       return R;
-  }
 
   if (isa<Constant>(Op1)) {
     if (Instruction *Op0I = dyn_cast<Instruction>(Op0)) {
diff --git a/llvm/test/Transforms/InstCombine/binop-select.ll b/llvm/test/Transforms/InstCombine/binop-select.ll
--- a/llvm/test/Transforms/InstCombine/binop-select.ll
+++ b/llvm/test/Transforms/InstCombine/binop-select.ll
@@ -365,9 +365,8 @@
 
 define <2 x i32> @test_udiv_to_const_shr(i1 %c, <2 x i32> %x, <2 x i32> %yy) {
 ; CHECK-LABEL: @test_udiv_to_const_shr(
-; CHECK-NEXT:    [[Y:%.*]] = shl nuw <2 x i32> <i32 1, i32 1>, [[YY:%.*]]
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C:%.*]], <2 x i32> <i32 7, i32 8>, <2 x i32> [[Y]]
-; CHECK-NEXT:    [[DIV:%.*]] = udiv <2 x i32> <i32 42, i32 42>, [[COND]]
+; CHECK-NEXT:    [[TMP1:%.*]] = lshr <2 x i32> <i32 42, i32 42>, [[YY:%.*]]
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C:%.*]], <2 x i32> <i32 6, i32 5>, <2 x i32> [[TMP1]]
 ; CHECK-NEXT:    ret <2 x i32> [[DIV]]
 ;
   %y = shl <2 x i32> <i32 1, i32 1>, %yy
@@ -394,8 +393,8 @@
 define i32 @test_udiv_to_const_Cudiv(i32 %x) {
 ; CHECK-LABEL: @test_udiv_to_const_Cudiv(
 ; CHECK-NEXT:    [[C:%.*]] = icmp eq i32 [[X:%.*]], 90
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C]], i32 7, i32 19
-; CHECK-NEXT:    [[DIV:%.*]] = udiv i32 [[X]], [[COND]]
+; CHECK-NEXT:    [[TMP1:%.*]] = udiv i32 [[X]], 19
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C]], i32 12, i32 [[TMP1]]
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %c = icmp eq i32 %x, 90
@@ -426,8 +425,8 @@
 ; CHECK-NEXT:    [[YNZ:%.*]] = icmp ne i32 [[Y:%.*]], 0
 ; CHECK-NEXT:    call void @llvm.assume(i1 [[YNZ]])
 ; CHECK-NEXT:    [[C:%.*]] = icmp eq i32 [[X:%.*]], 90
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C]], i32 19, i32 [[Y]]
-; CHECK-NEXT:    [[DIV:%.*]] = udiv i32 [[X]], [[COND]]
+; CHECK-NEXT:    [[TMP1:%.*]] = udiv i32 [[X]], [[Y]]
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C]], i32 4, i32 [[TMP1]]
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %ynz = icmp ne i32 %y, 0
@@ -467,8 +466,8 @@
 define <2 x i32> @test_sdiv_to_const_Csdiv(<2 x i32> %x) {
 ; CHECK-LABEL: @test_sdiv_to_const_Csdiv(
 ; CHECK-NEXT:    [[C_NOT:%.*]] = icmp eq <2 x i32> [[X:%.*]], <i32 89, i32 91>
-; CHECK-NEXT:    [[COND:%.*]] = select <2 x i1> [[C_NOT]], <2 x i32> <i32 17, i32 5>, <2 x i32> <i32 7, i32 9>
-; CHECK-NEXT:    [[DIV:%.*]] = sdiv <2 x i32> [[X]], [[COND]]
+; CHECK-NEXT:    [[TMP1:%.*]] = sdiv <2 x i32> [[X]], <i32 7, i32 9>
+; CHECK-NEXT:    [[DIV:%.*]] = select <2 x i1> [[C_NOT]], <2 x i32> <i32 5, i32 18>, <2 x i32> [[TMP1]]
 ; CHECK-NEXT:    ret <2 x i32> [[DIV]]
 ;
   %c = icmp ne <2 x i32> %x, <i32 89, i32 91>
@@ -493,8 +492,8 @@
 define i32 @test_srem_to_const_Csrem(i32 %x) {
 ; CHECK-LABEL: @test_srem_to_const_Csrem(
 ; CHECK-NEXT:    [[C:%.*]] = icmp eq i32 [[X:%.*]], 24
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C]], i32 18, i32 16
-; CHECK-NEXT:    [[DIV:%.*]] = srem i32 [[X]], [[COND]]
+; CHECK-NEXT:    [[TMP1:%.*]] = srem i32 [[X]], 16
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C]], i32 6, i32 [[TMP1]]
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %c = icmp eq i32 %x, 24
@@ -547,10 +546,11 @@
 
 define i32 @test_urem_to_const_and_ind_x(i32 %x, i32 %yy) {
 ; CHECK-LABEL: @test_urem_to_const_and_ind_x(
-; CHECK-NEXT:    [[Y:%.*]] = shl nuw i32 1, [[YY:%.*]]
 ; CHECK-NEXT:    [[C_NOT:%.*]] = icmp eq i32 [[X:%.*]], 24
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C_NOT]], i32 19, i32 [[Y]]
-; CHECK-NEXT:    [[DIV:%.*]] = urem i32 [[X]], [[COND]]
+; CHECK-NEXT:    [[NOTMASK:%.*]] = shl nsw i32 -1, [[YY:%.*]]
+; CHECK-NEXT:    [[TMP1:%.*]] = xor i32 [[NOTMASK]], -1
+; CHECK-NEXT:    [[TMP2:%.*]] = and i32 [[TMP1]], [[X]]
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C_NOT]], i32 5, i32 [[TMP2]]
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %y = shl i32 1, %yy
@@ -562,9 +562,10 @@
 
 define i32 @test_urem_to_const_and(i1 %c, i32 %yy) {
 ; CHECK-LABEL: @test_urem_to_const_and(
-; CHECK-NEXT:    [[Y:%.*]] = shl nuw i32 1, [[YY:%.*]]
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C:%.*]], i32 [[Y]], i32 19
-; CHECK-NEXT:    [[DIV:%.*]] = urem i32 44, [[COND]]
+; CHECK-NEXT:    [[NOTMASK:%.*]] = shl nsw i32 -1, [[YY:%.*]]
+; CHECK-NEXT:    [[TMP1:%.*]] = and i32 [[NOTMASK]], 44
+; CHECK-NEXT:    [[TMP2:%.*]] = xor i32 [[TMP1]], 44
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C:%.*]], i32 [[TMP2]], i32 6
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %y = shl i32 1, %yy
@@ -589,8 +590,8 @@
 define i32 @test_mul_to_const_Cmul(i32 %x) {
 ; CHECK-LABEL: @test_mul_to_const_Cmul(
 ; CHECK-NEXT:    [[C:%.*]] = icmp eq i32 [[X:%.*]], 61
-; CHECK-NEXT:    [[COND:%.*]] = select i1 [[C]], i32 9, i32 14
-; CHECK-NEXT:    [[DIV:%.*]] = mul i32 [[COND]], [[X]]
+; CHECK-NEXT:    [[TMP1:%.*]] = mul i32 [[X]], 14
+; CHECK-NEXT:    [[DIV:%.*]] = select i1 [[C]], i32 549, i32 [[TMP1]]
 ; CHECK-NEXT:    ret i32 [[DIV]]
 ;
   %c = icmp eq i32 %x, 61