Last time I checked, Rust's slow compile times were due to LLVM. In fact, if you want to make Rust faster to compile, you can compile it to wasm using cranelift.
Not just LLVM in itself but the Front-end codegen: AFAIK the rust front-end emits way too much LLVM IR and then counts on LLVM to optimize and they have been slowly adding optimizations inside the front-end itself to avoid IR bloat.
And there's also the proc macro story (almost every project must compile proc_macro2quote and syn before the actual project compilation even starts).
Not just LLVM in itself but the Front-end codegen: AFAIK the rust front-end emits way too much LLVM IR and then counts on LLVM to optimize and they have been slowly adding optimizations inside the front-end itself to avoid IR bloat.
And there's also the proc macro story (almost every project must compile proc_macro2 quote and syn before the actual project compilation even starts).