For many applications, speculative execution alone is not sufficient to achieve high performance. The fundamental limitation is that speculation only removes dependences between branches and other instructions. The branches themselves remain in the code, which causes difficult problems. This motivates the second technique investigated in this dissertation, predicated execution, which is an architectural capability that enables the conditional execution of instructions based on the value of a Boolean source operand. Predicated execution allows a compiler to eliminate branch instructions using this conditional execution support. Additionally, predicated execution provides an efficient interface for the compiler to overlap the execution of multiple paths of control. Predicated execution is exploited in the compiler via a generalized form of a superblock, called the hyperblock. Hyperblocks provide the framework for the compiler to selectively eliminate branches using predicated execution as well as apply speculative execution to exploit ILP.