diff --git a/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp b/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
index 91a1b61ddc483..0a88e1660836b 100644
--- a/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstructionCombining.cpp
@@ -5505,8 +5505,15 @@ bool InstCombinerImpl::run() {
 
       for (Use &U : I->uses()) {
         User *User = U.getUser();
-        if (User->isDroppable())
-          continue;
+        if (User->isDroppable()) {
+          // Do not sink if there are dereferenceable assumes that would be
+          // removed.
+          auto II = dyn_cast<IntrinsicInst>(User);
+          if (II->getIntrinsicID() != Intrinsic::assume ||
+              !II->getOperandBundle("dereferenceable"))
+            continue;
+        }
+
         if (NumUsers > MaxSinkNumUsers)
           return std::nullopt;
 
diff --git a/llvm/test/Transforms/InstCombine/sink-dereferenceable-assume.ll b/llvm/test/Transforms/InstCombine/sink-dereferenceable-assume.ll
new file mode 100644
index 0000000000000..8ceb310fc8f71
--- /dev/null
+++ b/llvm/test/Transforms/InstCombine/sink-dereferenceable-assume.ll
@@ -0,0 +1,123 @@
+; NOTE: Assertions have been autogenerated by utils/update_test_checks.py UTC_ARGS: --version 6
+; RUN: opt -p instcombine -S %s | FileCheck %s
+
+define i64 @test_dereferenceable_assume(ptr %p, ptr %q, i1 %c.0) {
+; CHECK-LABEL: define i64 @test_dereferenceable_assume(
+; CHECK-SAME: ptr [[P:%.*]], ptr [[Q:%.*]], i1 [[C_0:%.*]]) {
+; CHECK-NEXT:  [[ENTRY:.*:]]
+; CHECK-NEXT:    [[P_INT:%.*]] = ptrtoint ptr [[P]] to i64
+; CHECK-NEXT:    [[Q_INT:%.*]] = ptrtoint ptr [[Q]] to i64
+; CHECK-NEXT:    [[DIFF:%.*]] = sub i64 [[Q_INT]], [[P_INT]]
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "dereferenceable"(ptr [[P]], i64 [[DIFF]]) ]
+; CHECK-NEXT:    br i1 [[C_0]], label %[[THEN:.*]], label %[[ELSE:.*]]
+; CHECK:       [[THEN]]:
+; CHECK-NEXT:    ret i64 [[DIFF]]
+; CHECK:       [[ELSE]]:
+; CHECK-NEXT:    ret i64 0
+;
+entry:
+  %p_int = ptrtoint ptr %p to i64
+  %q_int = ptrtoint ptr %q to i64
+  %diff = sub i64 %q_int, %p_int
+  call void @llvm.assume(i1 true) [ "dereferenceable"(ptr %p, i64 %diff) ]
+  br i1 %c.0, label %then, label %else
+
+then:
+  ret i64 %diff
+
+else:
+  ret i64 0
+}
+
+define i64 @test_sink_with_dereferenceable_assume_same_block_as_user(ptr %p, ptr %q, i1 %c.0) {
+; CHECK-LABEL: define i64 @test_sink_with_dereferenceable_assume_same_block_as_user(
+; CHECK-SAME: ptr [[P:%.*]], ptr [[Q:%.*]], i1 [[C_0:%.*]]) {
+; CHECK-NEXT:  [[ENTRY:.*:]]
+; CHECK-NEXT:    br i1 [[C_0]], label %[[THEN:.*]], label %[[ELSE:.*]]
+; CHECK:       [[THEN]]:
+; CHECK-NEXT:    [[Q_INT:%.*]] = ptrtoint ptr [[Q]] to i64
+; CHECK-NEXT:    [[P_INT:%.*]] = ptrtoint ptr [[P]] to i64
+; CHECK-NEXT:    [[DIFF:%.*]] = sub i64 [[Q_INT]], [[P_INT]]
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "dereferenceable"(ptr [[P]], i64 [[DIFF]]) ]
+; CHECK-NEXT:    ret i64 [[DIFF]]
+; CHECK:       [[ELSE]]:
+; CHECK-NEXT:    ret i64 0
+;
+entry:
+  %p_int = ptrtoint ptr %p to i64
+  %q_int = ptrtoint ptr %q to i64
+  %diff = sub i64 %q_int, %p_int
+  br i1 %c.0, label %then, label %else
+
+then:
+  call void @llvm.assume(i1 true) [ "dereferenceable"(ptr %p, i64 %diff) ]
+  ret i64 %diff
+
+else:
+  ret i64 0
+}
+
+define i64 @test_sink_with_multiple_users_dominated_by_deref(ptr %p, ptr %q, i1 %c.0, i1 %c.1) {
+; CHECK-LABEL: define i64 @test_sink_with_multiple_users_dominated_by_deref(
+; CHECK-SAME: ptr [[P:%.*]], ptr [[Q:%.*]], i1 [[C_0:%.*]], i1 [[C_1:%.*]]) {
+; CHECK-NEXT:  [[ENTRY:.*:]]
+; CHECK-NEXT:    [[P_INT:%.*]] = ptrtoint ptr [[P]] to i64
+; CHECK-NEXT:    [[Q_INT:%.*]] = ptrtoint ptr [[Q]] to i64
+; CHECK-NEXT:    [[DIFF:%.*]] = sub i64 [[Q_INT]], [[P_INT]]
+; CHECK-NEXT:    br i1 [[C_0]], label %[[THEN:.*]], label %[[ELSE:.*]]
+; CHECK:       [[THEN]]:
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "dereferenceable"(ptr [[P]], i64 [[DIFF]]) ]
+; CHECK-NEXT:    br i1 [[C_1]], label %[[THEN_2:.*]], label %[[ELSE]]
+; CHECK:       [[THEN_2]]:
+; CHECK-NEXT:    [[DOUBLED:%.*]] = shl i64 [[DIFF]], 1
+; CHECK-NEXT:    ret i64 [[DOUBLED]]
+; CHECK:       [[ELSE]]:
+; CHECK-NEXT:    ret i64 0
+;
+entry:
+  %p_int = ptrtoint ptr %p to i64
+  %q_int = ptrtoint ptr %q to i64
+  %diff = sub i64 %q_int, %p_int
+  br i1 %c.0, label %then, label %else
+
+then:
+  call void @llvm.assume(i1 true) [ "dereferenceable"(ptr %p, i64 %diff) ]
+  br i1 %c.1, label %then.2, label %else
+
+then.2:
+  %doubled = mul i64 %diff, 2
+  ret i64 %doubled
+
+else:
+  ret i64 0
+}
+
+define i64 @test_deref_user_does_not_dominate_other_user(ptr %p, ptr %q, i1 %c.0) {
+; CHECK-LABEL: define i64 @test_deref_user_does_not_dominate_other_user(
+; CHECK-SAME: ptr [[P:%.*]], ptr [[Q:%.*]], i1 [[C_0:%.*]]) {
+; CHECK-NEXT:  [[ENTRY:.*:]]
+; CHECK-NEXT:    [[P_INT:%.*]] = ptrtoint ptr [[P]] to i64
+; CHECK-NEXT:    [[Q_INT:%.*]] = ptrtoint ptr [[Q]] to i64
+; CHECK-NEXT:    [[DIFF:%.*]] = sub i64 [[Q_INT]], [[P_INT]]
+; CHECK-NEXT:    br i1 [[C_0]], label %[[MIDDLE:.*]], label %[[EXIT:.*]]
+; CHECK:       [[MIDDLE]]:
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "dereferenceable"(ptr [[P]], i64 [[DIFF]]) ]
+; CHECK-NEXT:    br label %[[EXIT]]
+; CHECK:       [[EXIT]]:
+; CHECK-NEXT:    ret i64 [[DIFF]]
+;
+entry:
+  %p_int = ptrtoint ptr %p to i64
+  %q_int = ptrtoint ptr %q to i64
+  %diff = sub i64 %q_int, %p_int
+  br i1 %c.0, label %middle, label %exit
+
+middle:
+  call void @llvm.assume(i1 true) [ "dereferenceable"(ptr %p, i64 %diff) ]
+  br label %exit
+
+exit:
+  ret i64 %diff
+}
+
+declare void @llvm.assume(i1 noundef)
diff --git a/llvm/test/Transforms/PhaseOrdering/AArch64/std-find.ll b/llvm/test/Transforms/PhaseOrdering/AArch64/std-find.ll
index 471b1aa5dce0f..1a2fd1078d494 100644
--- a/llvm/test/Transforms/PhaseOrdering/AArch64/std-find.ll
+++ b/llvm/test/Transforms/PhaseOrdering/AArch64/std-find.ll
@@ -129,9 +129,108 @@ return:
   ret i64 %res
 }
 
+define ptr @std_find_caller(ptr noundef %first, ptr noundef %last) {
+; CHECK-LABEL: define noundef ptr @std_find_caller(
+; CHECK-SAME: ptr noundef [[FIRST:%.*]], ptr noundef [[LAST:%.*]]) local_unnamed_addr #[[ATTR0]] {
+; CHECK-NEXT:  [[ENTRY:.*]]:
+; CHECK-NEXT:    [[FIRST3:%.*]] = ptrtoint ptr [[FIRST]] to i64
+; CHECK-NEXT:    [[LAST_I64:%.*]] = ptrtoint ptr [[LAST]] to i64
+; CHECK-NEXT:    [[PTR_SUB:%.*]] = sub i64 [[LAST_I64]], [[FIRST3]]
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "align"(ptr [[FIRST]], i64 2) ]
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "align"(ptr [[LAST]], i64 2) ]
+; CHECK-NEXT:    call void @llvm.assume(i1 true) [ "dereferenceable"(ptr [[FIRST]], i64 [[PTR_SUB]]) ]
+; CHECK-NEXT:    [[PRE_I:%.*]] = icmp eq ptr [[FIRST]], [[LAST]]
+; CHECK-NEXT:    br i1 [[PRE_I]], label %[[STD_FIND_GENERIC_IMPL_EXIT:.*]], label %[[LOOP_HEADER_I_PREHEADER:.*]]
+; CHECK:       [[LOOP_HEADER_I_PREHEADER]]:
+; CHECK-NEXT:    [[SCEVGEP:%.*]] = getelementptr i8, ptr [[FIRST]], i64 [[PTR_SUB]]
+; CHECK-NEXT:    [[TMP0:%.*]] = add i64 [[LAST_I64]], -2
+; CHECK-NEXT:    [[TMP1:%.*]] = sub i64 [[TMP0]], [[FIRST3]]
+; CHECK-NEXT:    [[TMP2:%.*]] = lshr exact i64 [[TMP1]], 1
+; CHECK-NEXT:    [[TMP3:%.*]] = add nuw i64 [[TMP2]], 1
+; CHECK-NEXT:    [[MIN_ITERS_CHECK:%.*]] = icmp ult i64 [[TMP1]], 158
+; CHECK-NEXT:    br i1 [[MIN_ITERS_CHECK]], label %[[LOOP_HEADER_I_PREHEADER2:.*]], label %[[VECTOR_PH:.*]]
+; CHECK:       [[VECTOR_PH]]:
+; CHECK-NEXT:    [[XTRAITER:%.*]] = and i64 [[TMP3]], -8
+; CHECK-NEXT:    [[OFFSET_IDX:%.*]] = shl i64 [[XTRAITER]], 1
+; CHECK-NEXT:    [[NEXT_GEP:%.*]] = getelementptr i8, ptr [[FIRST]], i64 [[OFFSET_IDX]]
+; CHECK-NEXT:    br label %[[VECTOR_BODY:.*]]
+; CHECK:       [[VECTOR_BODY]]:
+; CHECK-NEXT:    [[INDEX:%.*]] = phi i64 [ 0, %[[VECTOR_PH]] ], [ [[PROL_ITER_NEXT:%.*]], %[[VECTOR_BODY]] ]
+; CHECK-NEXT:    [[OFFSET_IDX1:%.*]] = shl i64 [[INDEX]], 1
+; CHECK-NEXT:    [[NEXT_GEP1:%.*]] = getelementptr i8, ptr [[FIRST]], i64 [[OFFSET_IDX1]]
+; CHECK-NEXT:    [[WIDE_LOAD:%.*]] = load <8 x i16>, ptr [[NEXT_GEP1]], align 2
+; CHECK-NEXT:    [[WIDE_LOAD_FR:%.*]] = freeze <8 x i16> [[WIDE_LOAD]]
+; CHECK-NEXT:    [[TMP4:%.*]] = icmp eq <8 x i16> [[WIDE_LOAD_FR]], splat (i16 1)
+; CHECK-NEXT:    [[PROL_ITER_NEXT]] = add nuw i64 [[INDEX]], 8
+; CHECK-NEXT:    [[TMP5:%.*]] = bitcast <8 x i1> [[TMP4]] to i8
+; CHECK-NEXT:    [[TMP6:%.*]] = icmp ne i8 [[TMP5]], 0
+; CHECK-NEXT:    [[PROL_ITER_CMP_NOT:%.*]] = icmp eq i64 [[PROL_ITER_NEXT]], [[XTRAITER]]
+; CHECK-NEXT:    [[TMP8:%.*]] = or i1 [[TMP6]], [[PROL_ITER_CMP_NOT]]
+; CHECK-NEXT:    br i1 [[TMP8]], label %[[MIDDLE_SPLIT:.*]], label %[[VECTOR_BODY]], !llvm.loop [[LOOP3:![0-9]+]]
+; CHECK:       [[MIDDLE_SPLIT]]:
+; CHECK-NEXT:    br i1 [[TMP6]], label %[[VECTOR_EARLY_EXIT:.*]], label %[[MIDDLE_BLOCK:.*]]
+; CHECK:       [[MIDDLE_BLOCK]]:
+; CHECK-NEXT:    [[CMP_N:%.*]] = icmp eq i64 [[TMP3]], [[XTRAITER]]
+; CHECK-NEXT:    br i1 [[CMP_N]], label %[[STD_FIND_GENERIC_IMPL_EXIT]], label %[[LOOP_HEADER_I_PREHEADER2]]
+; CHECK:       [[LOOP_HEADER_I_PREHEADER2]]:
+; CHECK-NEXT:    [[PTR_IV_I_PH:%.*]] = phi ptr [ [[FIRST]], %[[LOOP_HEADER_I_PREHEADER]] ], [ [[NEXT_GEP]], %[[MIDDLE_BLOCK]] ]
+; CHECK-NEXT:    br label %[[LOOP_HEADER_I:.*]]
+; CHECK:       [[VECTOR_EARLY_EXIT]]:
+; CHECK-NEXT:    [[TMP11:%.*]] = tail call i64 @llvm.experimental.cttz.elts.i64.v8i1(<8 x i1> [[TMP4]], i1 true)
+; CHECK-NEXT:    [[TMP12:%.*]] = add i64 [[INDEX]], [[TMP11]]
+; CHECK-NEXT:    [[TMP13:%.*]] = shl i64 [[TMP12]], 1
+; CHECK-NEXT:    [[TMP14:%.*]] = getelementptr i8, ptr [[FIRST]], i64 [[TMP13]]
+; CHECK-NEXT:    br label %[[STD_FIND_GENERIC_IMPL_EXIT]]
+; CHECK:       [[LOOP_HEADER_I]]:
+; CHECK-NEXT:    [[PTR_IV_I:%.*]] = phi ptr [ [[PTR_IV_NEXT_I:%.*]], %[[LOOP_LATCH_I:.*]] ], [ [[PTR_IV_I_PH]], %[[LOOP_HEADER_I_PREHEADER2]] ]
+; CHECK-NEXT:    [[L_I:%.*]] = load i16, ptr [[PTR_IV_I]], align 2
+; CHECK-NEXT:    [[C_1_I:%.*]] = icmp eq i16 [[L_I]], 1
+; CHECK-NEXT:    br i1 [[C_1_I]], label %[[STD_FIND_GENERIC_IMPL_EXIT]], label %[[LOOP_LATCH_I]]
+; CHECK:       [[LOOP_LATCH_I]]:
+; CHECK-NEXT:    [[PTR_IV_NEXT_I]] = getelementptr inbounds nuw i8, ptr [[PTR_IV_I]], i64 2
+; CHECK-NEXT:    [[EC_I:%.*]] = icmp eq ptr [[PTR_IV_NEXT_I]], [[LAST]]
+; CHECK-NEXT:    br i1 [[EC_I]], label %[[STD_FIND_GENERIC_IMPL_EXIT]], label %[[LOOP_HEADER_I]], !llvm.loop [[LOOP4:![0-9]+]]
+; CHECK:       [[STD_FIND_GENERIC_IMPL_EXIT]]:
+; CHECK-NEXT:    [[RES_I:%.*]] = phi ptr [ [[FIRST]], %[[ENTRY]] ], [ [[SCEVGEP]], %[[MIDDLE_BLOCK]] ], [ [[TMP14]], %[[VECTOR_EARLY_EXIT]] ], [ [[SCEVGEP]], %[[LOOP_LATCH_I]] ], [ [[PTR_IV_I]], %[[LOOP_HEADER_I]] ]
+; CHECK-NEXT:    ret ptr [[RES_I]]
+;
+entry:
+  %last.i64 = ptrtoint ptr %last to i64
+  %first.i64 = ptrtoint ptr %first to i64
+  %ptr.sub = sub i64 %last.i64, %first.i64
+  call void @llvm.assume(i1 true) [ "align"(ptr %first, i64 2) ]
+  call void @llvm.assume(i1 true) [ "align"(ptr %last, i64 2) ]
+  call void @llvm.assume(i1 true) [ "dereferenceable"(ptr %first, i64 %ptr.sub) ]
+  %call = call noundef ptr @std_find_generic_impl(ptr noundef nonnull %first, ptr noundef %last, i16 noundef signext 1)
+  ret ptr %call
+}
+
+define linkonce_odr noundef ptr @std_find_generic_impl(ptr noundef %first, ptr noundef %last, i16 noundef %value) {
+entry:
+  %pre = icmp eq ptr %first, %last
+  br i1 %pre, label %exit, label %loop.header
+
+loop.header:
+  %ptr.iv = phi ptr [ %ptr.iv.next, %loop.latch ], [ %first, %entry ]
+  %l = load i16, ptr %ptr.iv, align 2
+  %c.1 = icmp eq i16 %l, %value
+  br i1 %c.1, label %exit, label %loop.latch
+
+loop.latch:
+  %ptr.iv.next = getelementptr inbounds nuw i8, ptr %ptr.iv, i64 2
+  %ec = icmp eq ptr %ptr.iv.next, %last
+  br i1 %ec, label %exit, label %loop.header
+
+exit:
+  %res = phi ptr [ %first, %entry ], [ %ptr.iv, %loop.header ], [ %ptr.iv.next, %loop.latch ]
+  ret ptr %res
+}
+
 declare void @llvm.assume(i1 noundef)
 ;.
 ; CHECK: [[LOOP0]] = distinct !{[[LOOP0]], [[META1:![0-9]+]], [[META2:![0-9]+]]}
 ; CHECK: [[META1]] = !{!"llvm.loop.isvectorized", i32 1}
 ; CHECK: [[META2]] = !{!"llvm.loop.unroll.runtime.disable"}
+; CHECK: [[LOOP3]] = distinct !{[[LOOP3]], [[META1]], [[META2]]}
+; CHECK: [[LOOP4]] = distinct !{[[LOOP4]], [[META2]], [[META1]]}
 ;.