diff --git a/Compiler/src/tfuncs.jl b/Compiler/src/tfuncs.jl
index 539844e0a4cf9..906bc9521adf9 100644
--- a/Compiler/src/tfuncs.jl
+++ b/Compiler/src/tfuncs.jl
@@ -2244,6 +2244,22 @@ end
     return boundscheck ⊑ Bool && memtype ⊑ GenericMemoryRef && order ⊑ Symbol
 end
 
+@nospecs function memorynew_nothrow(argtypes::Vector{Any})
+    if !(argtypes[1] isa Const && argtypes[2] isa Const)
+        return false
+    end
+    MemT = argtypes[1].val
+    if !(isconcretetype(MemT) && MemT <: GenericMemory)
+        return false
+    end
+    len = argtypes[2].val
+    if !(len isa Int && 0 <= len < typemax(Int))
+        return false
+    end
+    elsz = datatype_layoutsize(MemT)
+    overflows = checked_smul_int(len, elsz)[2]
+    return !overflows
+end
 # Query whether the given builtin is guaranteed not to throw given the `argtypes`.
 # `argtypes` can be assumed not to contain varargs.
 function _builtin_nothrow(𝕃::AbstractLattice, @nospecialize(f::Builtin), argtypes::Vector{Any},
@@ -2251,14 +2267,7 @@ function _builtin_nothrow(𝕃::AbstractLattice, @nospecialize(f::Builtin), argt
     ⊑ = partialorder(𝕃)
     na = length(argtypes)
     if f === Core.memorynew
-        argtypes[1] isa Const && argtypes[2] isa Const || return false
-        MemT = argtypes[1].val
-        isconcretetype(MemT) && MemT <: GenericMemory || return false
-        len = argtypes[2].val
-        len isa Int && 0 <= len < typemax(Int) || return false
-        elsz = datatype_layoutsize(MemT)
-        checked_smul_int(len, elsz)[2] && return false
-        return true
+        return memorynew_nothrow(argtypes)
     elseif f === memoryrefnew
         return memoryref_builtin_common_nothrow(argtypes)
     elseif f === memoryrefoffset
diff --git a/src/codegen.cpp b/src/codegen.cpp
index 77b5d47ae9cd9..cd404360d8bfe 100644
--- a/src/codegen.cpp
+++ b/src/codegen.cpp
@@ -1603,7 +1603,7 @@ static const auto &builtin_func_map() {
           { jl_f_nfields_addr,            new JuliaFunction<>{XSTR(jl_f_nfields), get_func_sig, get_func_attrs} },
           { jl_f__expr_addr,              new JuliaFunction<>{XSTR(jl_f__expr), get_func_sig, get_func_attrs} },
           { jl_f__typevar_addr,           new JuliaFunction<>{XSTR(jl_f__typevar), get_func_sig, get_func_attrs} },
-          { jl_f_memorynew_addr, new JuliaFunction<>{XSTR(jl_f_memorynew), get_func_sig, get_func_attrs} },
+          { jl_f_memorynew_addr,          new JuliaFunction<>{XSTR(jl_f_memorynew), get_func_sig, get_func_attrs} },
           { jl_f_memoryref_addr,          new JuliaFunction<>{XSTR(jl_f_memoryref), get_func_sig, get_func_attrs} },
           { jl_f_memoryrefoffset_addr,    new JuliaFunction<>{XSTR(jl_f_memoryrefoffset), get_func_sig, get_func_attrs} },
           { jl_f_memoryrefset_addr,       new JuliaFunction<>{XSTR(jl_f_memoryrefset), get_func_sig, get_func_attrs} },