diff --git a/llvm/include/llvm/Analysis/AliasSetTracker.h b/llvm/include/llvm/Analysis/AliasSetTracker.h
index 34a509b7f4bb..187317e3831b 100644
--- a/llvm/include/llvm/Analysis/AliasSetTracker.h
+++ b/llvm/include/llvm/Analysis/AliasSetTracker.h
@@ -87,10 +87,11 @@ class AliasSet : public ilist_node<AliasSet> {
         AAInfo = NewAAInfo;
       else {
         AAMDNodes Intersection(AAInfo.intersect(NewAAInfo));
-        if (!Intersection) {
+        if (!Intersection.TBAA || !Intersection.Scope ||
+            !Intersection.NoAlias) {
           // NewAAInfo conflicts with AAInfo.
           AAInfo = DenseMapInfo<AAMDNodes>::getTombstoneKey();
-          return SizeChanged;
+          SizeChanged = true;
         }
         AAInfo = Intersection;
       }
diff --git a/llvm/test/Transforms/LICM/pr42969.ll b/llvm/test/Transforms/LICM/pr42969.ll
new file mode 100644
index 000000000000..12a8acb2fa65
--- /dev/null
+++ b/llvm/test/Transforms/LICM/pr42969.ll
@@ -0,0 +1,71 @@
+; RUN: opt %s -S -scoped-noalias -enable-mssa-loop-dependency=true -licm -debug-only=licm | FileCheck %s
+
+define i16 @main(i1 %a_b_mayalias, i16* %a, i16* %b) {
+; CHECK-NOT: LICM: Promoting value stored to in loop
+; CHECK:       scalar.body:
+; CHECK-NEXT:    [[J:%.*]] = phi i64
+; CHECK-NEXT:    [[TMP3:%.*]] = load i16
+; CHECK-NEXT:    [[RESULT:%.*]] = add i16 [[TMP3]], 1
+; CHECK-NEXT:    store i16 [[RESULT]]
+
+entry:
+  br label %outer
+
+outer:                                            ; preds = %scalar.cleanup, %entry
+; 4 = MemoryPhi({entry,liveOnEntry},{scalar.cleanup,2})
+  %i = phi i16 [ 0, %entry ], [ %i.next, %scalar.cleanup ]
+  br i1 %a_b_mayalias, label %scalar.ph, label %vector.ph
+
+vector.ph:                                        ; preds = %outer
+; MemoryUse(4) MayAlias
+  %tmp1 = load i16, i16* %a, align 1, !alias.scope !0, !tbaa !7
+  %tmp2 = add i16 %tmp1, 1
+; 1 = MemoryDef(4)
+  store i16 %tmp2, i16* %b, align 1, !alias.scope !3, !noalias !0, !tbaa !7
+  br label %vector.body
+
+vector.body:                                      ; preds = %vector.body, %vector.ph
+  %index = phi i64 [ %index.next, %vector.body ], [ 0, %vector.ph ]
+  %index.next = add i64 %index, 1
+  %cmp1 = icmp eq i64 %index.next, 16
+  br i1 %cmp1, label %middle.block, label %vector.body
+
+middle.block:                                     ; preds = %vector.body
+  br label %scalar.ph
+
+scalar.ph:                                        ; preds = %middle.block, %outer
+; 5 = MemoryPhi({outer,4},{middle.block,1})
+  %j.start = phi i64 [ 0, %outer ], [ 16, %middle.block ]
+  br label %scalar.body
+
+scalar.body:                                      ; preds = %scalar.body, %scalar.ph
+; 3 = MemoryPhi({scalar.ph,5},{scalar.body,2})
+  %j = phi i64 [ %j.next, %scalar.body ], [ %j.start, %scalar.ph ]
+; MemoryUse(3) MayAlias
+  %tmp3 = load i16, i16* %a, align 1, !tbaa !7
+  %result = add i16 %tmp3, 1
+; 2 = MemoryDef(3)
+  store i16 %result, i16* %b, align 1, !tbaa !7
+  %j.next = add nuw nsw i64 %j, 1
+  %cmp2 = icmp ult i64 %j.next, 20
+  br i1 %cmp2, label %scalar.body, label %scalar.cleanup
+
+scalar.cleanup:                                   ; preds = %scalar.body
+  %result.lcssa = phi i16 [ %result, %scalar.body ]
+  %i.next = add nuw nsw i16 %i, 1
+  %exitcond = icmp eq i16 %i.next, 10
+  br i1 %exitcond, label %exit.block, label %outer
+
+exit.block:                                       ; preds = %scalar.cleanup
+  %result.lcssa.lcssa = phi i16 [ %result.lcssa, %scalar.cleanup ]
+  ret i16 %result.lcssa.lcssa
+}
+
+!0 = !{!1}
+!1 = distinct !{!1, !2}
+!2 = distinct !{!2, !"LVerDomain"}
+!3 = !{!4}
+!4 = distinct !{!4, !2}
+!5 = !{!"Simple C++ TBAA"}
+!6 = !{!"omnipotent char", !5, i64 0}
+!7 = !{!6, !6, i64 0}