diff --git a/llvm/lib/Passes/PassBuilder.cpp b/llvm/lib/Passes/PassBuilder.cpp
--- a/llvm/lib/Passes/PassBuilder.cpp
+++ b/llvm/lib/Passes/PassBuilder.cpp
@@ -584,7 +584,7 @@
   }
 
   // Speculative execution if the target has divergent branches; otherwise nop.
-  FPM.addPass(SpeculativeExecutionPass());
+  FPM.addPass(SpeculativeExecutionPass(/* OnlyIfDivergentTarget =*/true));
 
   // Optimize based on known information about branches, and cleanup afterward.
   FPM.addPass(JumpThreadingPass());