diff --git a/doc/next/5-toolchain.md b/doc/next/5-toolchain.md
index 0f4a816479..ce763f1b93 100644
--- a/doc/next/5-toolchain.md
+++ b/doc/next/5-toolchain.md
@@ -1,5 +1,9 @@
 ## Compiler {#compiler}
 
+The build time overhead to building with [Profile Guided Optimization](/doc/pgo) has been reduced significantly.
+Previously, large builds could see 100%+ build time increase from enabling PGO.
+In Go 1.23, overhead should be in the single digit percentages.
+
 ## Assembler {#assembler}
 
 ## Linker {#linker}
diff --git a/src/cmd/go/internal/work/action.go b/src/cmd/go/internal/work/action.go
index 249c802269..5e83f1ebfd 100644
--- a/src/cmd/go/internal/work/action.go
+++ b/src/cmd/go/internal/work/action.go
@@ -461,6 +461,17 @@ func (ba *buildActor) Act(b *Builder, ctx context.Context, a *Action) error {
 	return b.build(ctx, a)
 }
 
+// pgoActionID computes the action ID for a preprocess PGO action.
+func (b *Builder) pgoActionID(input string) cache.ActionID {
+	h := cache.NewHash("preprocess PGO profile " + input)
+
+	fmt.Fprintf(h, "preprocess PGO profile\n")
+	fmt.Fprintf(h, "preprofile %s\n", b.toolID("preprofile"))
+	fmt.Fprintf(h, "input %q\n", b.fileHash(input))
+
+	return h.Sum()
+}
+
 // pgoActor implements the Actor interface for preprocessing PGO profiles.
 type pgoActor struct {
 	// input is the path to the original pprof profile.
@@ -468,7 +479,10 @@ type pgoActor struct {
 }
 
 func (p *pgoActor) Act(b *Builder, ctx context.Context, a *Action) error {
-	// TODO(prattmic): Integrate with build cache to cache output.
+	if b.useCache(a, b.pgoActionID(p.input), a.Target, !b.IsCmdList) || b.IsCmdList {
+		return nil
+	}
+	defer b.flushOutput(a)
 
 	sh := b.Shell(a)
 
@@ -480,7 +494,33 @@ func (p *pgoActor) Act(b *Builder, ctx context.Context, a *Action) error {
 		return err
 	}
 
+	// N.B. Builder.build looks for the out in a.built, regardless of
+	// whether this came from cache.
 	a.built = a.Target
+
+	if !cfg.BuildN {
+		// Cache the output.
+		//
+		// N.B. We don't use updateBuildID here, as preprocessed PGO profiles
+		// do not contain a build ID. updateBuildID is typically responsible
+		// for adding to the cache, thus we must do so ourselves instead.
+
+		r, err := os.Open(a.Target)
+		if err != nil {
+			return fmt.Errorf("error opening target for caching: %w", err)
+		}
+
+		c := cache.Default()
+		outputID, _, err := c.Put(a.actionID, r)
+		r.Close()
+		if err != nil {
+			return fmt.Errorf("error adding target to cache: %w", err)
+		}
+		if cfg.BuildX {
+			sh.ShowCmd("", "%s # internal", joinUnambiguously(str.StringList("cp", a.Target, c.OutputFile(outputID))))
+		}
+	}
+
 	return nil
 }
 
diff --git a/src/cmd/go/internal/work/buildid.go b/src/cmd/go/internal/work/buildid.go
index bf923d0d5e..acbda1af55 100644
--- a/src/cmd/go/internal/work/buildid.go
+++ b/src/cmd/go/internal/work/buildid.go
@@ -527,6 +527,14 @@ func (b *Builder) useCache(a *Action, actionHash cache.ActionID, target string,
 
 	// Check to see if the action output is cached.
 	if file, _, err := cache.GetFile(c, actionHash); err == nil {
+		if a.Mode == "preprocess PGO profile" {
+			// Preprocessed PGO profiles don't embed a build ID, so
+			// skip the build ID lookup.
+			// TODO(prattmic): better would be to add a build ID to the format.
+			a.built = file
+			a.Target = "DO NOT USE - using cache"
+			return true
+		}
 		if buildID, err := buildid.ReadFile(file); err == nil {
 			if printOutput {
 				showStdout(b, c, a, "stdout")
diff --git a/src/cmd/go/testdata/script/build_cache_pgo.txt b/src/cmd/go/testdata/script/build_cache_pgo.txt
new file mode 100644
index 0000000000..5efecab49e
--- /dev/null
+++ b/src/cmd/go/testdata/script/build_cache_pgo.txt
@@ -0,0 +1,28 @@
+[short] skip
+
+# Set up fresh GOCACHE.
+env GOCACHE=$WORK/gocache
+mkdir $GOCACHE
+
+# Building trivial non-main package should run preprofile the first time.
+go build -x -pgo=default.pgo lib.go
+stderr 'preprofile.*default\.pgo'
+
+# ... but not again ...
+go build -x -pgo=default.pgo lib.go
+! stderr 'preprofile.*default\.pgo'
+
+# ... unless we use -a.
+go build -a -x -pgo=default.pgo lib.go
+stderr 'preprofile.*default\.pgo'
+
+# ... building a different package should not run preprofile again, instead using a profile from cache.
+go build -x -pgo=default.pgo lib2.go
+! stderr 'preprofile.*default\.pgo'
+stderr 'compile.*-pgoprofile=.*'$GOCACHE'.*lib2.go'
+
+-- lib.go --
+package lib
+-- lib2.go --
+package lib2
+-- default.pgo --
diff --git a/src/cmd/go/testdata/script/build_pgo.txt b/src/cmd/go/testdata/script/build_pgo.txt
index 0ca2105f56..792d299ab1 100644
--- a/src/cmd/go/testdata/script/build_pgo.txt
+++ b/src/cmd/go/testdata/script/build_pgo.txt
@@ -3,6 +3,10 @@
 
 [short] skip 'compiles and links executables'
 
+# Set up fresh GOCACHE.
+env GOCACHE=$WORK/gocache
+mkdir $GOCACHE
+
 # build without PGO
 go build triv.go
 
diff --git a/src/cmd/go/testdata/script/build_pgo_auto.txt b/src/cmd/go/testdata/script/build_pgo_auto.txt
index 1ae86d4e57..dc2570272f 100644
--- a/src/cmd/go/testdata/script/build_pgo_auto.txt
+++ b/src/cmd/go/testdata/script/build_pgo_auto.txt
@@ -2,6 +2,10 @@
 
 [short] skip 'compiles and links executables'
 
+# Set up fresh GOCACHE.
+env GOCACHE=$WORK/gocache
+mkdir $GOCACHE
+
 # use default.pgo for a single main package
 go build -n -pgo=auto -o a1.exe ./a/a1
 stderr 'preprofile.*-i.*default\.pgo'
diff --git a/src/cmd/preprofile/main.go b/src/cmd/preprofile/main.go
index 4cb87f63c8..f29b5279e2 100644
--- a/src/cmd/preprofile/main.go
+++ b/src/cmd/preprofile/main.go
@@ -16,6 +16,7 @@ package main
 
 import (
 	"bufio"
+	"cmd/internal/objabi"
 	"cmd/internal/pgo"
 	"flag"
 	"fmt"
@@ -67,6 +68,8 @@ func preprocess(profileFile string, outputFile string) error {
 }
 
 func main() {
+	objabi.AddVersionFlag()
+
 	log.SetFlags(0)
 	log.SetPrefix("preprofile: ")