Is there a faster way to calculate Abs[z]^2 numerically?

There's Internal`AbsSquare:

s = RandomVariate[NormalDistribution[], {10^7, 2}].{1, I};
foo = Internal`AbsSquare[s]; // AbsoluteTiming // First
murf = Abs[s]^2; // AbsoluteTiming // First
(*
  0.022909
  0.063441
*)

foo == murf
(*  True  *)