diff --git a/extensions/amp-video/0.1/test/test-video-cache.js b/extensions/amp-video/0.1/test/test-video-cache.js
index a6dbeebc53cd..8181f5b308db 100644
--- a/extensions/amp-video/0.1/test/test-video-cache.js
+++ b/extensions/amp-video/0.1/test/test-video-cache.js
@@ -494,6 +494,88 @@ describes.realWin('amp-video cached-sources', {amp: true}, (env) => {
     });
   });
 
+  describe('web stories: inlined video', async () => {
+    it('should use the inlined source for the first video in the story instead of sending an XHR request', async () => {
+      // Set up an inlined source response for the first video in the story
+      const storyEl = createStoryForInlineVideoTesting();
+      env.win.document.body.appendChild(storyEl);
+      setUpInlinedVideoResponse();
+
+      const xhrSpy = env.sandbox.spy(xhrService, 'fetch');
+
+      // Fetch the sources for the first video in the story
+      const videoEl = storyEl.querySelectorAll('amp-video')[0];
+      await fetchCachedSources(videoEl, env.ampdoc);
+
+      expect(xhrSpy).to.have.not.been.called;
+      const inlinedSources = videoEl.querySelectorAll(
+        'source[src="inlined_video_response.mp4"]'
+      );
+      expect(inlinedSources).to.have.lengthOf(1);
+    });
+
+    it('should send an XHR request for any video that is not the very first one within the story', async () => {
+      // Set up an inlined source response for the first video in the story
+      const storyEl = createStoryForInlineVideoTesting();
+      env.win.document.body.appendChild(storyEl);
+      setUpInlinedVideoResponse();
+
+      const xhrSpy = env.sandbox.spy(xhrService, 'fetch');
+
+      // Fetch the sources for video #2: the 2nd video on the first story page
+      const videoEl2 = storyEl.querySelectorAll('amp-video')[1];
+      await fetchCachedSources(videoEl2, env.ampdoc);
+
+      // Fetch the sources for video #3: the 1st video on the 2nd story page
+      const videoEl3 = storyEl.querySelectorAll('amp-video')[2];
+      await fetchCachedSources(videoEl3, env.ampdoc);
+
+      expect(xhrSpy).to.have.been.calledWith(
+        'https://example-com.cdn.ampproject.org/mbv/s/example.com/video2.mp4?amp_video_host_url=https%3A%2F%2Fcanonical.com'
+      );
+      expect(xhrSpy).to.have.been.calledWith(
+        'https://example-com.cdn.ampproject.org/mbv/s/example.com/video3.mp4?amp_video_host_url=https%3A%2F%2Fcanonical.com'
+      );
+    });
+
+    it('should send XHR request if inline config not provided', async () => {
+      // Create story without setting an inlined source response
+      const storyEl = createStoryForInlineVideoTesting();
+      env.win.document.body.appendChild(storyEl);
+
+      const xhrSpy = env.sandbox.spy(xhrService, 'fetch');
+
+      // Fetch the sources for the first video in the story
+      const videoEl = storyEl.querySelectorAll('amp-video')[0];
+      await fetchCachedSources(videoEl, env.ampdoc);
+
+      expect(xhrSpy).to.have.been.calledWith(
+        'https://example-com.cdn.ampproject.org/mbv/s/example.com/video1.mp4?amp_video_host_url=https%3A%2F%2Fcanonical.com'
+      );
+    });
+
+    it('should send XHR request if inlined video response fails to parse', async () => {
+      // Set up an improperly configured response for the first video in the story
+      const storyEl = createStoryForInlineVideoTesting();
+      env.win.document.body.appendChild(storyEl);
+      const scriptEl = createElementWithAttributes(env.win.document, 'script', {
+        'id': 'amp-google-video-cache-response',
+        'type': 'application/json',
+      });
+      scriptEl.textContent = '{"faulty": [{}]}';
+
+      const xhrSpy = env.sandbox.spy(xhrService, 'fetch');
+
+      // Fetch the sources for the first video in the story
+      const videoEl = storyEl.querySelectorAll('amp-video')[0];
+      await fetchCachedSources(videoEl, env.ampdoc);
+
+      expect(xhrSpy).to.have.been.calledWith(
+        'https://example-com.cdn.ampproject.org/mbv/s/example.com/video1.mp4?amp_video_host_url=https%3A%2F%2Fcanonical.com'
+      );
+    });
+  });
+
   function createVideo(children) {
     const videoEl = createElementWithAttributes(env.win.document, 'amp-video', {
       'cache': 'google',
@@ -510,4 +592,49 @@ describes.realWin('amp-video cached-sources', {amp: true}, (env) => {
     env.win.document.body.appendChild(videoEl);
     return videoEl;
   }
+
+  function createStoryForInlineVideoTesting() {
+    const storyEl = env.win.document.createElement('amp-story');
+    const storyPageEl1 = env.win.document.createElement('amp-story-page');
+    const storyPageEl2 = env.win.document.createElement('amp-story-page');
+    storyEl.appendChild(storyPageEl1);
+    storyEl.appendChild(storyPageEl2);
+
+    // Place two videos on the first page. video #1 is nested more deeply than
+    // video #2, but it should still be considered the first video on the page.
+    const gridLayerEl = env.win.document.createElement('amp-story-grid-layer');
+    const videoEl1 = createVideo([{src: 'video1.mp4'}]);
+    gridLayerEl.appendChild(videoEl1);
+    storyPageEl1.appendChild(gridLayerEl);
+
+    // Place video #2 on the first page.
+    const videoEl2 = createVideo([{src: 'video2.mp4'}]);
+    storyPageEl1.appendChild(videoEl2);
+
+    // Place video #3 on the second page.
+    const videoEl3 = createVideo([{src: 'video3.mp4'}]);
+    storyPageEl2.appendChild(videoEl3);
+
+    return storyEl;
+  }
+
+  function setUpInlinedVideoResponse() {
+    const scriptEl = createElementWithAttributes(env.win.document, 'script', {
+      'id': 'amp-google-video-cache-response',
+      'type': 'application/json',
+    });
+    scriptEl.textContent = `
+      {
+        "sources": [
+          {
+            "url": "inlined_video_response.mp4",
+            "codec": "h264",
+            "type": "video/mp4",
+            "bitrate_kbps": 400
+          }
+        ],
+        "has_audio": false
+      }`;
+    env.win.document.head.appendChild(scriptEl);
+  }
 });
diff --git a/extensions/amp-video/0.1/video-cache.js b/extensions/amp-video/0.1/video-cache.js
index 6bb7908c762d..7bceefd338df 100644
--- a/extensions/amp-video/0.1/video-cache.js
+++ b/extensions/amp-video/0.1/video-cache.js
@@ -35,37 +35,20 @@ export function fetchCachedSources(
   if (Services.platformFor(win).isBot()) {
     return Promise.resolve();
   }
-  if (
-    !(
-      videoEl.getAttribute('src') ||
-      videoEl.querySelector('source[src]')?.getAttribute('src')
-    )
-  ) {
+
+  const videoSrc = videoEl.getAttribute('src');
+  const sourceSrc = videoEl.querySelector('source[src]')?.getAttribute('src');
+  if (!videoSrc && !sourceSrc) {
     user().error('AMP-VIDEO', 'Video cache not properly configured');
     return Promise.resolve();
   }
 
   Services.performanceFor(ampdoc.win).addEnabledExperiment('video-cache');
 
-  const {canonicalUrl, sourceUrl} = Services.documentInfoForDoc(win.document);
-  maybeReplaceSrcWithSourceElement(videoEl, win);
-  const videoUrl = resolveRelativeUrl(selectVideoSource(videoEl), sourceUrl);
-  return getCacheUrlService(videoEl, ampdoc)
-    .then((service) => service.createCacheUrl(videoUrl))
-    .then((cacheUrl) => {
-      const requestUrl = addParamsToUrl(cacheUrl.replace(/\/[ic]\//, '/mbv/'), {
-        'amp_video_host_url':
-          /* document url that contains the video */ canonicalUrl,
-        'amp_video_require_acao_header': videoEl.hasAttribute('crossorigin')
-          ? 1
-          : null,
-      });
-      return Services.xhrFor(win).fetch(requestUrl, {prerenderSafe: true});
-    })
-    .then((response) => response.json())
-    .then((jsonResponse) => {
-      applySourcesToVideo(videoEl, jsonResponse['sources'], maxBitrate);
-      applyAudioInfoToVideo(videoEl, jsonResponse['has_audio']);
+  return requestCachedVideoSources(videoEl, ampdoc)
+    .then((response) => {
+      applySourcesToVideo(videoEl, response['sources'], maxBitrate);
+      applyAudioInfoToVideo(videoEl, response['has_audio']);
     })
     .catch(() => {
       // If cache fails, video should still load properly.
@@ -215,3 +198,59 @@ function getCacheUrlService(videoEl, ampdoc) {
     .installExtensionForDoc(ampdoc, 'amp-cache-url')
     .then(() => Services.cacheUrlServicePromiseForDoc(videoEl));
 }
+
+/**
+ * Fetch the sources for the given video element.
+ * @param {!Element} videoEl
+ * @param {!AmpDoc} ampdoc
+ * @return {!Promise<!Object>} JSON representing AMP's cached video sources.
+ */
+function requestCachedVideoSources(videoEl, ampdoc) {
+  const {win} = ampdoc;
+  if (shouldUseInlineVideoResponse(videoEl, win)) {
+    const inlineResponseEl = win.document.getElementById(
+      'amp-google-video-cache-response'
+    );
+    try {
+      const inlineResponseJson = JSON.parse(inlineResponseEl.textContent);
+      if (inlineResponseJson['sources']) {
+        return Promise.resolve(inlineResponseJson);
+      }
+    } catch (err) {
+      // If parsing the response fails, an XHR request will be made below.
+    }
+  }
+
+  const {canonicalUrl, sourceUrl} = Services.documentInfoForDoc(win.document);
+  maybeReplaceSrcWithSourceElement(videoEl, win);
+  const videoUrl = resolveRelativeUrl(selectVideoSource(videoEl), sourceUrl);
+  return getCacheUrlService(videoEl, ampdoc)
+    .then((service) => service.createCacheUrl(videoUrl))
+    .then((cacheUrl) => {
+      const requestUrl = addParamsToUrl(cacheUrl.replace(/\/[ic]\//, '/mbv/'), {
+        'amp_video_host_url':
+          /* document url that contains the video */ canonicalUrl,
+        'amp_video_require_acao_header': videoEl.hasAttribute('crossorigin')
+          ? 1
+          : null,
+      });
+      return Services.xhrFor(win)
+        .fetch(requestUrl, {prerenderSafe: true})
+        .then((xhrResponse) => xhrResponse.json());
+    });
+}
+
+/**
+ * Returns `true` if the video's inline response should be used instead of
+ * issuing an XHR request.
+ * @param {!Element} videoEl
+ * @param {!Window} win
+ * @return {boolean}
+ */
+function shouldUseInlineVideoResponse(videoEl, win) {
+  // Google video cache inlines the first video of the first web story page.
+  const firstVid = win.document.querySelector(
+    'amp-story-page:first-of-type amp-video'
+  );
+  return videoEl === firstVid;
+}