diff --git a/include/torch-mlir/Dialect/Torch/IR/GeneratedTorchOps.td b/include/torch-mlir/Dialect/Torch/IR/GeneratedTorchOps.td
index 0f56c1bc1317..4a1f98768933 100644
--- a/include/torch-mlir/Dialect/Torch/IR/GeneratedTorchOps.td
+++ b/include/torch-mlir/Dialect/Torch/IR/GeneratedTorchOps.td
@@ -7596,7 +7596,6 @@ def Torch_AtenNeBoolOp : Torch_Op<"aten.ne.bool", [
 
 def Torch_Aten__Is__Op : Torch_Op<"aten.__is__", [
     AllowsTypeRefinement,
-    HasValueSemantics,
     ReadOnly
   ]> {
   let summary = "Generated op for `aten::__is__ : (t1, t2) -> (bool)`";
@@ -7621,7 +7620,6 @@ def Torch_Aten__Is__Op : Torch_Op<"aten.__is__", [
 
 def Torch_Aten__Isnot__Op : Torch_Op<"aten.__isnot__", [
     AllowsTypeRefinement,
-    HasValueSemantics,
     ReadOnly
   ]> {
   let summary = "Generated op for `aten::__isnot__ : (t1, t2) -> (bool)`";
diff --git a/python/torch_mlir/dialects/torch/importer/jit_ir/build_tools/registry.py b/python/torch_mlir/dialects/torch/importer/jit_ir/build_tools/registry.py
index 7d2568e584b6..00799de1e5cc 100644
--- a/python/torch_mlir/dialects/torch/importer/jit_ir/build_tools/registry.py
+++ b/python/torch_mlir/dialects/torch/importer/jit_ir/build_tools/registry.py
@@ -251,6 +251,11 @@ def has_value_semantics(self):
         # but the alias annotation is empty.
         if self.unique_key == "prim::unchecked_cast : (t) -> (t)":
             return False
+        # The `is` operator compares object identity, so it does not have
+        # value semantics.
+        if self.unique_key in ("aten::__is__ : (t1, t2) -> (bool)",
+                               "aten::__isnot__ : (t1, t2) -> (bool)"):
+            return False
         return True
 
     def is_readonly(self):