diff --git a/packages/vite/src/module-runner/runner.ts b/packages/vite/src/module-runner/runner.ts
index 8cac7e1191b265..ae4228e3748123 100644
--- a/packages/vite/src/module-runner/runner.ts
+++ b/packages/vite/src/module-runner/runner.ts
@@ -245,20 +245,33 @@ export class ModuleRunner {
   }
 
   private async cachedModule(url: string, importer?: string) {
-    const cacheKey = `${url}~~${importer}`
-    let cached = this.moduleInfoCache.get(cacheKey)
+    url = normalizeAbsoluteUrl(url, this.root)
+
+    const normalized = this.urlToIdMap.get(url)
+    let cachedModule = normalized && this.moduleCache.getByModuleId(normalized)
+    if (!cachedModule) {
+      cachedModule = this.moduleCache.getByModuleId(url)
+    }
+
+    let cached = this.moduleInfoCache.get(url)
     if (!cached) {
-      cached = this.getModuleInformation(url, importer).finally(() => {
-        this.moduleInfoCache.delete(cacheKey)
-      })
-      this.moduleInfoCache.set(cacheKey, cached)
+      cached = this.getModuleInformation(url, importer, cachedModule).finally(
+        () => {
+          this.moduleInfoCache.delete(url)
+        },
+      )
+      this.moduleInfoCache.set(url, cached)
+    } else {
+      this.debug?.('[module runner] using cached module info for', url)
     }
+
     return cached
   }
 
   private async getModuleInformation(
     url: string,
-    importer?: string,
+    importer: string | undefined,
+    cachedModule: ModuleCache | undefined,
   ): Promise<ModuleCache> {
     if (this.destroyed) {
       throw new Error(`Vite module runner has been destroyed.`)
@@ -266,14 +279,6 @@ export class ModuleRunner {
 
     this.debug?.('[module runner] fetching', url)
 
-    url = normalizeAbsoluteUrl(url, this.root)
-
-    const normalized = this.urlToIdMap.get(url)
-    let cachedModule = normalized && this.moduleCache.getByModuleId(normalized)
-    if (!cachedModule) {
-      cachedModule = this.moduleCache.getByModuleId(url)
-    }
-
     const isCached = !!(typeof cachedModule === 'object' && cachedModule.meta)
 
     const fetchedModule = // fast return for established externalized pattern