diff --git a/ethosu/vela/tensor.py b/ethosu/vela/tensor.py
index 0f8170d..eedbada 100644
--- a/ethosu/vela/tensor.py
+++ b/ethosu/vela/tensor.py
@@ -18,6 +18,7 @@
 import enum
 import uuid
 from collections import defaultdict
+from functools import lru_cache
 
 import numpy as np
 
@@ -159,6 +160,12 @@
     return new_shp
 
 
+@lru_cache(maxsize=None)
+def create_equivalence_id(key):
+    # Generates equivalence_id based on the given key.
+    return uuid.uuid4()
+
+
 class QuantizationParameters:
     __slots__ = "min", "max", "num_bits", "narrow_range", "scale_f32", "zero_point", "quant_min", "quant_max"
 
@@ -303,6 +310,7 @@
         "compression_scale_for_worst_weight_stream",
         "weight_compression_scales",
         "weight_compression_config",
+        "value_id",
         "storage_rounding_quantum",
         "brick_size",
         "quantization",
@@ -342,7 +350,10 @@
         self.bandwidth_compression_scale = 1.0
         self.compression_scale_for_worst_weight_stream = 1.0
         self.weight_compression_scales = None
+        # if two tensors have the same weight_compression_config, then they have the same compressed values
         self.weight_compression_config = None
+        # if two tensors have the same value_id, then they have the same values
+        self.value_id = uuid.uuid4()
         self.weight_compressed_offsets = []
         self.storage_rounding_quantum = (1, 1, 1, 1)
         self.brick_size = (1, 1, 1, 1)
@@ -375,7 +386,6 @@
 
         res.ops = []
         res.consumer_list = []
-        res.equivalence_id = self.equivalence_id
 
         res.values = self.values
         res.quant_values = self.quant_values
@@ -407,6 +417,7 @@
 
     def copy_compressed_weight_info(self, src_tens):
         # Copies compressed values + all related weight compression info from the given tensor
+        self.equivalence_id = src_tens.equivalence_id
         self.compressed_values = src_tens.compressed_values
         self.compressed_values_substream_offsets = src_tens.compressed_values_substream_offsets
         self.storage_shape = src_tens.storage_shape
@@ -418,6 +429,7 @@
         self.storage_compression_scale = src_tens.storage_compression_scale
         self.block_traversal = src_tens.block_traversal
         self.weight_compression_config = src_tens.weight_compression_config
+        self.value_id = src_tens.value_id
 
     def set_format(self, fmt, arch):
         self.format = fmt