diff --git a/programs/bpf_loader/src/syscalls/cpi.rs b/programs/bpf_loader/src/syscalls/cpi.rs
index 4c8a0e45e41b53..22eb2f97bf3f8d 100644
--- a/programs/bpf_loader/src/syscalls/cpi.rs
+++ b/programs/bpf_loader/src/syscalls/cpi.rs
@@ -1308,8 +1308,9 @@ fn update_caller_account(
             // never points to an invalid address.
             //
             // Note that the capacity can be smaller than the original length only if the account is
-            // reallocated using the AccountSharedData API directly (deprecated). BorrowedAccount
-            // and CoW don't trigger this, see BorrowedAccount::make_data_mut.
+            // reallocated using the AccountSharedData API directly (deprecated) or using
+            // BorrowedAccount::set_data_from_slice(), which implements an optimization to avoid an
+            // extra allocation.
             let min_capacity = caller_account.original_data_len;
             if callee_account.capacity() < min_capacity {
                 callee_account
diff --git a/sdk/src/account.rs b/sdk/src/account.rs
index f701e868ccf4e2..26355569a481f5 100644
--- a/sdk/src/account.rs
+++ b/sdk/src/account.rs
@@ -543,7 +543,13 @@ impl AccountSharedData {
     }
 
     pub fn reserve(&mut self, additional: usize) {
-        self.data_mut().reserve(additional)
+        if let Some(data) = Arc::get_mut(&mut self.data) {
+            data.reserve(additional)
+        } else {
+            let mut data = Vec::with_capacity(self.data.len().saturating_add(additional));
+            data.extend_from_slice(&self.data);
+            self.data = Arc::new(data);
+        }
     }
 
     pub fn capacity(&self) -> usize {
diff --git a/sdk/src/transaction_context.rs b/sdk/src/transaction_context.rs
index 7df7fc96d67933..8ec6902415a73c 100644
--- a/sdk/src/transaction_context.rs
+++ b/sdk/src/transaction_context.rs
@@ -869,13 +869,10 @@ impl<'a> BorrowedAccount<'a> {
         self.can_data_be_changed()?;
         self.touch()?;
         self.update_accounts_resize_delta(data.len())?;
-        // Calling make_data_mut() here guarantees that set_data_from_slice()
-        // copies in places, extending the account capacity if necessary but
-        // never reducing it. This is required as the account migh be directly
-        // mapped into a MemoryRegion, and therefore reducing capacity would
-        // leave a hole in the vm address space. After CPI or upon program
-        // termination, the runtime will zero the extra capacity.
-        self.make_data_mut();
+        // Note that we intentionally don't call self.make_data_mut() here.  make_data_mut() will
+        // allocate + memcpy the current data if self.account is shared. We don't need the memcpy
+        // here tho because account.set_data_from_slice(data) is going to replace the content
+        // anyway.
         self.account.set_data_from_slice(data);
 
         Ok(())