Maybe that's applied to the TU that defines it? I don't see it in the glibc sources.
Definition of macro: https://sourceware.org/git/?p=glibc.git;a=blob;f=include/lib...
Use: https://sourceware.org/git/?p=glibc.git;a=blob;f=string/memm...
For a bunch of other places -fno-builtin-* seems to be used.