The Gnu Compiler Collection project has
the merge of the
Link Time Optimization
"Link Time Optimization (LTO) gives GCC the capability of dumping its internal representation (GIMPLE) to disk, so that all the different compilation units that make up a single executable can be optimized as a single module. This expands the scope of inter-procedural optimizations to encompass the whole program (or, rather, everything that is visible at link time).
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