llvm-ld is a replacement for the system linker, which supports both LLVM-bit and native code. It creates default executables for the bitcode (i.e., the resulting executable calls the bit code interpreter), but can also be used to create its own executables.
I do not use llvm-ld directly, since it is more convenient to use the llvmc and clang interfaces, which, if necessary, invoke the corresponding programs of the LLVM toolbar (note: llvmc was noted experimentally and appears that were removed in version 3.0).
llvm-link is a lower-level tool that combines several bitcode files into one. The documentation does not mention if it performs optimization but does not . The following optimization runs will be triggered when native code is generated.
Christoph
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