diff --git a/llvm/lib/Target/NVPTX/NVPTXISelLowering.cpp b/llvm/lib/Target/NVPTX/NVPTXISelLowering.cpp
index 5d2dfe76b1b98..90b16290d0a19 100644
--- a/llvm/lib/Target/NVPTX/NVPTXISelLowering.cpp
+++ b/llvm/lib/Target/NVPTX/NVPTXISelLowering.cpp
@@ -822,7 +822,7 @@ NVPTXTargetLowering::NVPTXTargetLowering(const NVPTXTargetMachine &TM,
   // We have some custom DAG combine patterns for these nodes
   setTargetDAGCombine({ISD::ADD, ISD::AND, ISD::EXTRACT_VECTOR_ELT, ISD::FADD,
                        ISD::MUL, ISD::SHL, ISD::SREM, ISD::UREM, ISD::VSELECT,
-                       ISD::BUILD_VECTOR});
+                       ISD::BUILD_VECTOR, ISD::ADDRSPACECAST});
 
   // setcc for f16x2 and bf16x2 needs special handling to prevent
   // legalizer's attempt to scalarize it due to v2i1 not being legal.
@@ -5209,6 +5209,21 @@ PerformBUILD_VECTORCombine(SDNode *N, TargetLowering::DAGCombinerInfo &DCI) {
   return DAG.getNode(ISD::BITCAST, DL, VT, PRMT);
 }
 
+static SDValue combineADDRSPACECAST(SDNode *N,
+                                    TargetLowering::DAGCombinerInfo &DCI) {
+  auto *ASCN1 = cast<AddrSpaceCastSDNode>(N);
+
+  if (auto *ASCN2 = dyn_cast<AddrSpaceCastSDNode>(ASCN1->getOperand(0))) {
+    assert(ASCN2->getDestAddressSpace() == ASCN1->getSrcAddressSpace());
+
+    // Fold asc[B -> A](asc[A -> B](x)) -> x
+    if (ASCN1->getDestAddressSpace() == ASCN2->getSrcAddressSpace())
+      return ASCN2->getOperand(0);
+  }
+
+  return SDValue();
+}
+
 SDValue NVPTXTargetLowering::PerformDAGCombine(SDNode *N,
                                                DAGCombinerInfo &DCI) const {
   CodeGenOptLevel OptLevel = getTargetMachine().getOptLevel();
@@ -5243,6 +5258,8 @@ SDValue NVPTXTargetLowering::PerformDAGCombine(SDNode *N,
       return PerformVSELECTCombine(N, DCI);
     case ISD::BUILD_VECTOR:
       return PerformBUILD_VECTORCombine(N, DCI);
+    case ISD::ADDRSPACECAST:
+      return combineADDRSPACECAST(N, DCI);
   }
   return SDValue();
 }
diff --git a/llvm/test/CodeGen/NVPTX/addrspacecast-folding.ll b/llvm/test/CodeGen/NVPTX/addrspacecast-folding.ll
new file mode 100644
index 0000000000000..87698c1c9644b
--- /dev/null
+++ b/llvm/test/CodeGen/NVPTX/addrspacecast-folding.ll
@@ -0,0 +1,35 @@
+; NOTE: Assertions have been autogenerated by utils/update_llc_test_checks.py UTC_ARGS: --version 5
+; RUN: llc < %s -mcpu=sm_20 -O0 | FileCheck %s
+; RUN: %if ptxas %{ llc < %s -mcpu=sm_20 -O0 | %ptxas-verify %}
+
+target triple = "nvptx64-unknown-unknown"
+
+define ptr @test1(ptr %p) {
+; CHECK-LABEL: test1(
+; CHECK:       {
+; CHECK-NEXT:    .reg .b64 %rd<2>;
+; CHECK-EMPTY:
+; CHECK-NEXT:  // %bb.0:
+; CHECK-NEXT:    ld.param.u64 %rd1, [test1_param_0];
+; CHECK-NEXT:    st.param.b64 [func_retval0], %rd1;
+; CHECK-NEXT:    ret;
+  %a = addrspacecast ptr %p to ptr addrspace(5)
+  %b = addrspacecast ptr addrspace(5) %a to ptr
+  ret ptr %b
+}
+
+define ptr addrspace(1) @test2(ptr addrspace(5) %p) {
+; CHECK-LABEL: test2(
+; CHECK:       {
+; CHECK-NEXT:    .reg .b64 %rd<4>;
+; CHECK-EMPTY:
+; CHECK-NEXT:  // %bb.0:
+; CHECK-NEXT:    ld.param.u64 %rd1, [test2_param_0];
+; CHECK-NEXT:    cvta.local.u64 %rd2, %rd1;
+; CHECK-NEXT:    cvta.to.global.u64 %rd3, %rd2;
+; CHECK-NEXT:    st.param.b64 [func_retval0], %rd3;
+; CHECK-NEXT:    ret;
+  %a = addrspacecast ptr addrspace(5) %p to ptr
+  %b = addrspacecast ptr %a to ptr addrspace(1)
+  ret ptr addrspace(1) %b
+}