A processor reduces bus bandwidth consumption by employing a shared load scheme, whereby each shared load retrieves data for multiple compute units (CUs) of a processor. Each CU in a specified group monitors a bus for load accesses directed to a cache shared by the multiple CUs. In response to identifying a load access on the bus, a CU determines if the load access is a shared load access for its share group. In response to identifying a shared load access for its share group, the CU allocates an entry of a private cache associated with the CU for data responsive to the shared load access. The CU then monitors the bus for the data targeted by the shared load. In response to identifying the targeted data on the bus, the CU stores the data at the allocated entry of the private cache.