diff --git a/llvm/lib/Transforms/InstCombine/InstCombineSimplifyDemanded.cpp b/llvm/lib/Transforms/InstCombine/InstCombineSimplifyDemanded.cpp
--- a/llvm/lib/Transforms/InstCombine/InstCombineSimplifyDemanded.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombineSimplifyDemanded.cpp
@@ -553,11 +553,25 @@
       if (SimplifyDemandedBits(I, 0, DemandedMaskIn, Known, Depth + 1))
         return I;
       assert(!Known.hasConflict() && "Bits known to be one AND zero?");
+
+      bool SignBitZero = Known.Zero.isSignBitSet();
+      bool SignBitOne = Known.One.isSignBitSet();
       Known.Zero <<= ShiftAmt;
       Known.One  <<= ShiftAmt;
       // low bits known zero.
       if (ShiftAmt)
         Known.Zero.setLowBits(ShiftAmt);
+
+      // If this shift has "nsw" keyword, then the result is either a poison
+      // value or has the same sign bit as the first operand.
+      if (IOp->hasNoSignedWrap()) {
+        if (SignBitZero)
+          Known.Zero.setSignBit();
+        else if (SignBitOne)
+          Known.One.setSignBit();
+        if (Known.hasConflict())
+          return UndefValue::get(I->getType());
+      }
     } else {
       computeKnownBits(I, Known, Depth, CxtI);
     }
diff --git a/llvm/test/Transforms/InstCombine/known-signbit-shift.ll b/llvm/test/Transforms/InstCombine/known-signbit-shift.ll
--- a/llvm/test/Transforms/InstCombine/known-signbit-shift.ll
+++ b/llvm/test/Transforms/InstCombine/known-signbit-shift.ll
@@ -31,8 +31,7 @@
 ; This test should not crash opt. The shift produces poison.
 define i32 @test_no_sign_bit_conflict1(i1 %b) {
 ; EXPENSIVE-OFF-LABEL: @test_no_sign_bit_conflict1(
-; EXPENSIVE-OFF-NEXT:    [[SEL:%.*]] = select i1 [[B:%.*]], i32 -2147221504, i32 -2147483648
-; EXPENSIVE-OFF-NEXT:    ret i32 [[SEL]]
+; EXPENSIVE-OFF-NEXT:    ret i32 undef
 ;
 ; EXPENSIVE-ON-LABEL: @test_no_sign_bit_conflict1(
 ; EXPENSIVE-ON-NEXT:    ret i32 0
@@ -46,8 +45,7 @@
 ; This test should not crash opt. The shift produces poison.
 define i32 @test_no_sign_bit_conflict2(i1 %b) {
 ; EXPENSIVE-OFF-LABEL: @test_no_sign_bit_conflict2(
-; EXPENSIVE-OFF-NEXT:    [[SEL:%.*]] = select i1 [[B:%.*]], i32 2147221504, i32 2146959360
-; EXPENSIVE-OFF-NEXT:    ret i32 [[SEL]]
+; EXPENSIVE-OFF-NEXT:    ret i32 undef
 ;
 ; EXPENSIVE-ON-LABEL: @test_no_sign_bit_conflict2(
 ; EXPENSIVE-ON-NEXT:    ret i32 0