diff --git a/invokeai/backend/model_management/model_cache.py b/invokeai/backend/model_management/model_cache.py
index 8cb6b55caf..9cf3852449 100644
--- a/invokeai/backend/model_management/model_cache.py
+++ b/invokeai/backend/model_management/model_cache.py
@@ -31,6 +31,7 @@ import torch
 
 import invokeai.backend.util.logging as logger
 from invokeai.backend.model_management.memory_snapshot import MemorySnapshot, get_pretty_snapshot_diff
+from invokeai.backend.model_management.model_load_optimizations import skip_torch_weight_init
 
 from ..util.devices import choose_torch_device
 from .models import BaseModelType, ModelBase, ModelType, SubModelType
@@ -223,7 +224,8 @@ class ModelCache(object):
             # Load the model from disk and capture a memory snapshot before/after.
             start_load_time = time.time()
             snapshot_before = MemorySnapshot.capture()
-            model = model_info.get_model(child_type=submodel, torch_dtype=self.precision)
+            with skip_torch_weight_init():
+                model = model_info.get_model(child_type=submodel, torch_dtype=self.precision)
             snapshot_after = MemorySnapshot.capture()
             end_load_time = time.time()
 
diff --git a/invokeai/backend/model_management/model_load_optimizations.py b/invokeai/backend/model_management/model_load_optimizations.py
new file mode 100644
index 0000000000..f835079213
--- /dev/null
+++ b/invokeai/backend/model_management/model_load_optimizations.py
@@ -0,0 +1,30 @@
+from contextlib import contextmanager
+
+import torch
+
+
+def _no_op(*args, **kwargs):
+    pass
+
+
+@contextmanager
+def skip_torch_weight_init():
+    """A context manager that monkey-patches several of the common torch layers (torch.nn.Linear, torch.nn.Conv1d, etc.)
+    to skip weight initialization.
+
+    By default, `torch.nn.Linear` and `torch.nn.ConvNd` layers initialize their weights (according to a particular
+    distribution) when __init__ is called. This weight initialization step can take a significant amount of time, and is
+    completely unnecessary if the intent is to load checkpoint weights from disk for the layer. This context manager
+    monkey-patches common torch layers to skip the weight initialization step.
+    """
+    torch_modules = [torch.nn.Linear, torch.nn.modules.conv._ConvNd]
+    saved_functions = [m.reset_parameters for m in torch_modules]
+
+    try:
+        for torch_module in torch_modules:
+            torch_module.reset_parameters = _no_op
+
+        yield None
+    finally:
+        for torch_module, saved_function in zip(torch_modules, saved_functions):
+            torch_module.reset_parameters = saved_function
diff --git a/tests/backend/model_management/test_model_load_optimization.py b/tests/backend/model_management/test_model_load_optimization.py
new file mode 100644
index 0000000000..43f007e972
--- /dev/null
+++ b/tests/backend/model_management/test_model_load_optimization.py
@@ -0,0 +1,70 @@
+import pytest
+import torch
+
+from invokeai.backend.model_management.model_load_optimizations import _no_op, skip_torch_weight_init
+
+
+@pytest.mark.parametrize(
+    ["torch_module", "layer_args"],
+    [
+        (torch.nn.Linear, {"in_features": 10, "out_features": 20}),
+        (torch.nn.Conv1d, {"in_channels": 10, "out_channels": 20, "kernel_size": 3}),
+        (torch.nn.Conv2d, {"in_channels": 10, "out_channels": 20, "kernel_size": 3}),
+        (torch.nn.Conv3d, {"in_channels": 10, "out_channels": 20, "kernel_size": 3}),
+    ],
+)
+def test_skip_torch_weight_init_linear(torch_module, layer_args):
+    """Test the interactions between `skip_torch_weight_init()` and various torch modules."""
+    seed = 123
+
+    # Initialize a torch layer *before* applying `skip_torch_weight_init()`.
+    reset_params_fn_before = torch_module.reset_parameters
+    torch.manual_seed(seed)
+    layer_before = torch_module(**layer_args)
+
+    # Initialize a torch layer while `skip_torch_weight_init()` is applied.
+    with skip_torch_weight_init():
+        reset_params_fn_during = torch_module.reset_parameters
+        torch.manual_seed(123)
+        layer_during = torch_module(**layer_args)
+
+    # Initialize a torch layer *after* applying `skip_torch_weight_init()`.
+    reset_params_fn_after = torch_module.reset_parameters
+    torch.manual_seed(123)
+    layer_after = torch_module(**layer_args)
+
+    # Check that reset_parameters is skipped while `skip_torch_weight_init()` is active.
+    assert reset_params_fn_during == _no_op
+    assert not torch.allclose(layer_before.weight, layer_during.weight)
+    assert not torch.allclose(layer_before.bias, layer_during.bias)
+
+    # Check that the original behavior is restored after `skip_torch_weight_init()` ends.
+    assert reset_params_fn_before is reset_params_fn_after
+    assert torch.allclose(layer_before.weight, layer_after.weight)
+    assert torch.allclose(layer_before.bias, layer_after.bias)
+
+
+def test_skip_torch_weight_init_restores_base_class_behavior():
+    """Test that `skip_torch_weight_init()` correctly restores the original behavior of torch.nn.Conv*d modules. This
+    test was created to catch a previous bug where `reset_parameters` was being copied from the base `_ConvNd` class to
+    its child classes (like `Conv1d`).
+    """
+    with skip_torch_weight_init():
+        # There is no need to do anything while the context manager is applied, we're just testing that the original
+        # behavior is restored correctly.
+        pass
+
+    # Mock the behavior of another library that monkey patches `torch.nn.modules.conv._ConvNd.reset_parameters` and
+    # expects it to affect all of the sub-classes (e.g. `torch.nn.Conv1D`, `torch.nn.Conv2D`, etc.).
+    called_monkey_patched_fn = False
+
+    def monkey_patched_fn(*args, **kwargs):
+        nonlocal called_monkey_patched_fn
+        called_monkey_patched_fn = True
+
+    saved_fn = torch.nn.modules.conv._ConvNd.reset_parameters
+    torch.nn.modules.conv._ConvNd.reset_parameters = monkey_patched_fn
+    _ = torch.nn.Conv1d(10, 20, 3)
+    torch.nn.modules.conv._ConvNd.reset_parameters = saved_fn
+
+    assert called_monkey_patched_fn