diff --git a/llvm/lib/Target/AMDGPU/SIISelLowering.cpp b/llvm/lib/Target/AMDGPU/SIISelLowering.cpp
index a7d8e11461733..ff5d0e2727726 100644
--- a/llvm/lib/Target/AMDGPU/SIISelLowering.cpp
+++ b/llvm/lib/Target/AMDGPU/SIISelLowering.cpp
@@ -14136,7 +14136,9 @@ void SITargetLowering::AdjustInstrPostInstrSelection(MachineInstr &MI,
                                                      SDNode *Node) const {
   const SIInstrInfo *TII = getSubtarget()->getInstrInfo();
 
-  MachineRegisterInfo &MRI = MI.getParent()->getParent()->getRegInfo();
+  MachineFunction *MF = MI.getParent()->getParent();
+  MachineRegisterInfo &MRI = MF->getRegInfo();
+  SIMachineFunctionInfo *Info = MF->getInfo<SIMachineFunctionInfo>();
 
   if (TII->isVOP3(MI.getOpcode())) {
     // Make sure constant bus requirements are respected.
@@ -14147,11 +14149,16 @@ void SITargetLowering::AdjustInstrPostInstrSelection(MachineInstr &MI,
     // use between vgpr and agpr as agpr tuples tend to be big.
     if (!MI.getDesc().operands().empty()) {
       unsigned Opc = MI.getOpcode();
+      bool HasAGPRs = Info->mayNeedAGPRs();
       const SIRegisterInfo *TRI = Subtarget->getRegisterInfo();
-      for (auto I : { AMDGPU::getNamedOperandIdx(Opc, AMDGPU::OpName::src0),
-                      AMDGPU::getNamedOperandIdx(Opc, AMDGPU::OpName::src1) }) {
+      int16_t Src2Idx = AMDGPU::getNamedOperandIdx(Opc, AMDGPU::OpName::src2);
+      for (auto I :
+           {AMDGPU::getNamedOperandIdx(Opc, AMDGPU::OpName::src0),
+            AMDGPU::getNamedOperandIdx(Opc, AMDGPU::OpName::src1), Src2Idx}) {
         if (I == -1)
           break;
+        if ((I == Src2Idx) && (HasAGPRs))
+          break;
         MachineOperand &Op = MI.getOperand(I);
         if (!Op.isReg() || !Op.getReg().isVirtual())
           continue;
@@ -14169,6 +14176,9 @@ void SITargetLowering::AdjustInstrPostInstrSelection(MachineInstr &MI,
         MRI.setRegClass(Op.getReg(), NewRC);
       }
 
+      if (!HasAGPRs)
+        return;
+
       // Resolve the rest of AV operands to AGPRs.
       if (auto *Src2 = TII->getNamedOperand(MI, AMDGPU::OpName::src2)) {
         if (Src2->isReg() && Src2->getReg().isVirtual()) {
diff --git a/llvm/test/CodeGen/AMDGPU/smfmac_no_agprs.ll b/llvm/test/CodeGen/AMDGPU/smfmac_no_agprs.ll
new file mode 100644
index 0000000000000..233f4cc4fee50
--- /dev/null
+++ b/llvm/test/CodeGen/AMDGPU/smfmac_no_agprs.ll
@@ -0,0 +1,53 @@
+; NOTE: Assertions have been autogenerated by utils/update_llc_test_checks.py UTC_ARGS: --version 2
+; RUN: llc -mtriple=amdgcn-amd-amdhsa -mcpu=gfx940 -verify-machineinstrs < %s | FileCheck -enable-var-scope -check-prefixes=GFX940 %s
+
+
+define protected amdgpu_kernel void @test(ptr addrspace(1) %in, ptr addrspace(1) %out) {
+; GFX940-LABEL: test:
+; GFX940:       ; %bb.0: ; %entry
+; GFX940-NEXT:    s_load_dwordx4 s[0:3], s[0:1], 0x0
+; GFX940-NEXT:    v_mov_b32_e32 v0, 0
+; GFX940-NEXT:    v_mov_b32_e32 v2, v0
+; GFX940-NEXT:    v_mov_b32_e32 v3, v0
+; GFX940-NEXT:    v_mov_b32_e32 v1, v0
+; GFX940-NEXT:    s_waitcnt lgkmcnt(0)
+; GFX940-NEXT:    s_load_dwordx4 s[4:7], s[0:1], 0x0
+; GFX940-NEXT:    v_mov_b64_e32 v[10:11], v[2:3]
+; GFX940-NEXT:    v_mov_b64_e32 v[8:9], v[0:1]
+; GFX940-NEXT:    s_waitcnt lgkmcnt(0)
+; GFX940-NEXT:    v_mov_b32_e32 v12, s4
+; GFX940-NEXT:    v_mov_b32_e32 v13, s5
+; GFX940-NEXT:    v_mov_b32_e32 v4, s6
+; GFX940-NEXT:    v_mov_b32_e32 v5, s7
+; GFX940-NEXT:    v_mov_b32_e32 v6, s7
+; GFX940-NEXT:    v_mov_b32_e32 v7, s7
+; GFX940-NEXT:    s_nop 1
+; GFX940-NEXT:    v_smfmac_i32_16x16x64_i8 v[8:11], v[12:13], v[4:7], v13
+; GFX940-NEXT:    s_nop 6
+; GFX940-NEXT:    global_store_dword v0, v11, s[2:3] offset:12 sc0 sc1
+; GFX940-NEXT:    s_endpgm
+entry:
+  %arrayidx = getelementptr inbounds i32, ptr addrspace(1) %in, i64 0
+  %arrayidx1 = getelementptr inbounds i32, ptr addrspace(1) %in, i64 1
+  %arrayidx2 = getelementptr inbounds i32, ptr addrspace(1) %in, i64 2
+  %arrayidx3 = getelementptr inbounds i32, ptr addrspace(1) %in, i64 3
+  %0 = load i32, ptr addrspace(1) %arrayidx
+  %1 = load i32, ptr addrspace(1) %arrayidx1
+  %2 = load i32, ptr addrspace(1) %arrayidx2
+  %3 = load i32, ptr addrspace(1) %arrayidx3
+  %src1.0 = insertelement <2 x i32> undef, i32 %0, i64 0
+  %src1 = insertelement <2 x i32> %src1.0, i32 %1, i64 1
+  %src2.0 = insertelement <4 x i32> undef, i32 %2, i64 0
+  %src2.1 = insertelement <4 x i32> %src2.0, i32 %3, i64 1
+  %src2.2 = insertelement <4 x i32> %src2.1, i32 %3, i64 2
+  %src2 = insertelement <4 x i32> %src2.2, i32 %3, i64 3
+  %4 = tail call <4 x i32> @llvm.amdgcn.smfmac.i32.16x16x64.i8(<2 x i32> %src1, <4 x i32> %src2, <4 x i32> zeroinitializer, i32 %1, i32 0, i32 0)
+  %vecext = extractelement <4 x i32> %4, i64 0
+  %vecext.1 = extractelement <4 x i32> %4, i64 1
+  %vecext.2 = extractelement <4 x i32> %4, i64 2
+  %vecext.3 = extractelement <4 x i32> %4, i64 3
+  %arrayidx4 = getelementptr inbounds i32, ptr addrspace(1) %out, i64 3
+  store i32 %vecext.3, ptr addrspace(1) %arrayidx4
+  ret void
+}
+declare <4 x i32> @llvm.amdgcn.smfmac.i32.16x16x64.i8(<2 x i32>, <4 x i32>, <4 x i32>, i32, i32 immarg, i32 immarg)