diff --git a/llvm/tools/llvm-shlib/CMakeLists.txt b/llvm/tools/llvm-shlib/CMakeLists.txt
--- a/llvm/tools/llvm-shlib/CMakeLists.txt
+++ b/llvm/tools/llvm-shlib/CMakeLists.txt
@@ -15,6 +15,10 @@
     message(FATAL_ERROR "Generating libLLVM is not supported on MSVC")
   endif()
 
+  if (LLVM_LINK_LLVM_DYLIB)
+    set(INSTALL_WITH_TOOLCHAIN INSTALL_WITH_TOOLCHAIN)
+  endif()
+
   llvm_map_components_to_libnames(LIB_NAMES ${LLVM_DYLIB_COMPONENTS})
 
   # Exclude libLLVMTableGen for the following reasons:
@@ -22,16 +26,30 @@
   #  - it pollutes the global options space.
   list(REMOVE_ITEM LIB_NAMES "LLVMTableGen")
 
+  foreach(target ${LLVM_TARGETS_TO_BUILD})
+    get_property(target_link_components TARGET ${target} PROPERTY LLVM_LINK_COMPONENTS)
+    set(objects "")
+    foreach(component ${target_link_components})
+      list(REMOVE_ITEM LIB_NAMES "LLVM${component}")
+      list(APPEND objects "$<TARGET_OBJECTS:LLVM${component}>")
+    endforeach()
+    add_llvm_library("LLVM${target}Target"
+                     MODULE
+                     DISABLE_LLVM_LINK_LLVM_DYLIB
+                     ${INSTALL_WITH_TOOLCHAIN}
+                     OBJLIBS ${objects})
+
+  endforeach()
+
   if(LLVM_DYLIB_EXPORTED_SYMBOL_FILE)
     set(LLVM_EXPORTED_SYMBOL_FILE ${LLVM_DYLIB_EXPORTED_SYMBOL_FILE})
     add_custom_target(libLLVMExports DEPENDS ${LLVM_EXPORTED_SYMBOL_FILE})
   endif()
 
-  if (LLVM_LINK_LLVM_DYLIB)
-    set(INSTALL_WITH_TOOLCHAIN INSTALL_WITH_TOOLCHAIN)
-  endif()
   add_llvm_library(LLVM SHARED DISABLE_LLVM_LINK_LLVM_DYLIB SONAME ${INSTALL_WITH_TOOLCHAIN} ${SOURCES})
 
+  target_compile_definitions(LLVM PRIVATE "LLVM_BUILD_BACKEND_MODULE")
+
   list(REMOVE_DUPLICATES LIB_NAMES)
   if(("${CMAKE_SYSTEM_NAME}" STREQUAL "Linux") OR (MINGW) OR (HAIKU)
      OR ("${CMAKE_SYSTEM_NAME}" STREQUAL "FreeBSD")
@@ -62,6 +80,9 @@
   endif()
 
   target_link_libraries(LLVM PRIVATE ${LIB_NAMES})
+  foreach(target ${LLVM_TARGETS_TO_BUILD})
+    add_dependencies(LLVM LLVM${target}Target)
+  endforeach()
 
   if (APPLE)
     set_property(TARGET LLVM APPEND_STRING PROPERTY
diff --git a/llvm/tools/llvm-shlib/libllvm.cpp b/llvm/tools/llvm-shlib/libllvm.cpp
--- a/llvm/tools/llvm-shlib/libllvm.cpp
+++ b/llvm/tools/llvm-shlib/libllvm.cpp
@@ -6,7 +6,53 @@
 //
 //===----------------------------------------------------------------------===//
 //
-// This file is empty and serves only the purpose of making CMake happy because
-// you can't define a target with no sources.
 //
 //===----------------------------------------------------------------------===//
+
+#ifdef LLVM_BUILD_BACKEND_MODULE
+
+#include <cstdio>
+#include <dlfcn.h>
+
+static void * LoadTargetModule(const char *Target) {
+  char SharedObjectName[100];
+  void *Handle;
+
+  snprintf(SharedObjectName, 100, "LLVM%sTarget.so", Target);
+  Handle = dlopen(SharedObjectName, RTLD_LAZY | RTLD_NOLOAD);
+  if (!Handle) {
+    Handle = dlopen(SharedObjectName, RTLD_LAZY);
+  }
+
+  return Handle;
+}
+
+extern "C" {
+
+// FIXME: Can we do some error handling here?
+#define LLVM_INIT_FUNC(TargetName, Component) \
+  void LLVMInitialize##TargetName##Component(void) { \
+    void *Handle = LoadTargetModule(#TargetName); \
+    if (!Handle) \
+      return; \
+    void (*InitFunc)(void) = (void (*)())(dlsym(Handle, "LLVMInitialize"#TargetName #Component)); \
+    if (!InitFunc) { \
+      return; \
+    } \
+    InitFunc(); \
+  }
+
+
+#define LLVM_TARGET(TargetName) \
+  LLVM_INIT_FUNC(TargetName, Target) \
+  LLVM_INIT_FUNC(TargetName, TargetInfo) \
+  LLVM_INIT_FUNC(TargetName, TargetMC) \
+  LLVM_INIT_FUNC(TargetName, AsmParser) \
+  LLVM_INIT_FUNC(TargetName, AsmPrinter) \
+  LLVM_INIT_FUNC(TargetName, Disassembler)
+#include "llvm/Config/Targets.def"
+#undef LLVM_TARGET
+
+}
+
+#endif