Systems, apparatuses, and methods for dynamically optimizing memory traffic in multi-client systems are disclosed. A system includes a plurality of client devices, a memory subsystem, and a communication fabric coupled to the client devices and the memory subsystem. The system includes a first client which generates memory access requests targeting the memory subsystem. Prior to sending a given memory access request to the fabric, the first client analyzes metadata associated with data targeted by the given memory access request. If the metadata indicates the targeted data is the same as or is able to be derived from previously retrieved data, the first client prevents the request from being sent out on the fabric on the data path to memory subsystem. This helps to reduce memory bandwidth consumption and allows the fabric and the memory subsystem to stay in a low-power state for longer periods of time.