I remember part of the selling point of LLVM during its early stage was compilation time being so much faster than GCC.
LLVM started about 15 years after GCC. Considering LLVM is 23 years old already. I wonder if something new again will pop up.
Discussion: https://news.ycombinator.com/item?id=45072481
There are also codegen projects that don't use LLVM IR that are faster like Cranelift: https://github.com/bytecodealliance/wasmtime/tree/main/crane...
Thus what would be the commercial reason to support LLVM's sucessor, especially since the companies that were responsible for LLVM going mainstream, are happy with current C and C++ support, mostly using LLVM for other programming language frontends?
One might argue GraalVM could be such one, however it has an history that traces back to SunLabs Maxime VM, it is focused on Java ecosystem, serverless deployments into Oracle Cloud, and for compiler development the target audience doesn't overlap with LLVM folks (C++ vs Java tooling).
LLVM is actually really really good at what it does (compiling c/c++ code). Not perfect, but good enough that it would take tens of thousands of competent man hours to match it