Index: lib/Analysis/CaptureTracking.cpp
===================================================================
--- lib/Analysis/CaptureTracking.cpp
+++ lib/Analysis/CaptureTracking.cpp
@@ -331,14 +331,32 @@
       AddUses(I);
       break;
     case Instruction::ICmp: {
-      // Don't count comparisons of a no-alias return value against null as
-      // captures. This allows us to ignore comparisons of malloc results
-      // with null, for example.
-      if (ConstantPointerNull *CPN =
-          dyn_cast<ConstantPointerNull>(I->getOperand(1)))
+      if (auto *CPN = dyn_cast<ConstantPointerNull>(I->getOperand(1))) {
+        // Don't count comparisons of a no-alias return value against null as
+        // captures. This allows us to ignore comparisons of malloc results
+        // with null, for example.
         if (CPN->getType()->getAddressSpace() == 0)
           if (isNoAliasCall(V->stripPointerCasts()))
             break;
+        auto *O = I->getOperand(0)->stripPointerCasts();
+        if (!I->getFunction()->nullPointerIsDefined()) {
+          // An inbounds GEP can either be a valid pointer (pointing into
+          // or to the end of an allocation), or be null in the default
+          // address space. So for an inbounds GEPs there is no way to let
+          // the pointer escape using clever GEP hacking because doing so
+          // would make the pointer point outside of the allocated object
+          // and thus make the GEP result a poison value.
+          if (auto *GEP = dyn_cast<GetElementPtrInst>(O))
+            if (GEP->isInBounds())
+              break;
+          // Comparing a dereferenceable_or_null argument against null
+          // cannot lead to pointer escapes, because if it is not null it
+          // must be a valid (in-bounds) pointer.
+          bool CanBeNull;
+          if (O->getPointerDereferenceableBytes(I->getModule()->getDataLayout(), CanBeNull))
+            break;
+        }
+      }
       // Comparison against value stored in global variable. Given the pointer
       // does not escape, its value cannot be guessed and stored separately in a
       // global variable.
Index: test/Transforms/FunctionAttrs/nocapture.ll
===================================================================
--- test/Transforms/FunctionAttrs/nocapture.ll
+++ test/Transforms/FunctionAttrs/nocapture.ll
@@ -253,5 +253,33 @@
   ret void
 }
 
+; CHECK: define i1 @captureICmp(i32* readnone %x)
+define i1 @captureICmp(i32* %x) {
+  %1 = icmp eq i32* %x, null
+  ret i1 %1
+}
+
+; CHECK: define i1 @nocaptureInboundsGEPICmp(i32* nocapture readnone %x)
+define i1 @nocaptureInboundsGEPICmp(i32* %x) {
+  %1 = getelementptr inbounds i32, i32* %x, i32 5
+  %2 = bitcast i32* %1 to i8*
+  %3 = icmp eq i8* %2, null
+  ret i1 %3
+}
+
+; CHECK: define i1 @nocaptureDereferenceableOrNullICmp(i32* nocapture readnone dereferenceable_or_null(4) %x)
+define i1 @nocaptureDereferenceableOrNullICmp(i32* dereferenceable_or_null(4) %x) {
+  %1 = bitcast i32* %x to i8*
+  %2 = icmp eq i8* %1, null
+  ret i1 %2
+}
+
+; CHECK: define i1 @captureDereferenceableOrNullICmp(i32* readnone dereferenceable_or_null(4) %x)
+define i1 @captureDereferenceableOrNullICmp(i32* dereferenceable_or_null(4) %x) "null-pointer-is-valid"="true" {
+  %1 = bitcast i32* %x to i8*
+  %2 = icmp eq i8* %1, null
+  ret i1 %2
+}
+
 declare i8* @llvm.launder.invariant.group.p0i8(i8*)
 declare i8* @llvm.strip.invariant.group.p0i8(i8*)