diff --git a/crates/ty_python_semantic/src/types/cyclic.rs b/crates/ty_python_semantic/src/types/cyclic.rs
index 801a4e928e1e9..1b3a624e8e635 100644
--- a/crates/ty_python_semantic/src/types/cyclic.rs
+++ b/crates/ty_python_semantic/src/types/cyclic.rs
@@ -76,7 +76,19 @@ impl<'db> Type<'db> {
                 a.definition(db) == b.definition(db)
             }
             (Type::TypeAlias(a), Type::TypeAlias(b)) => a.definition(db) == b.definition(db),
-            (Type::TypedDict(a), Type::TypedDict(b)) => a.definition(db) == b.definition(db),
+            (
+                Type::TypedDict(TypedDictType::Class(a)),
+                Type::TypedDict(TypedDictType::Class(b)),
+            ) => {
+                // Different specializations of the same recursive TypedDict can form a cycle.
+                // Each class statement has a unique body scope, so comparing scopes tells us
+                // whether the types came from the same class, even after decorators.
+                // Other TypedDicts can only match by exact equality, which we checked above.
+                matches!(
+                    (a.class_literal(db).as_static(), b.class_literal(db).as_static()),
+                    (Some(a), Some(b)) if a.body_scope(db) == b.body_scope(db)
+                )
+            }
             (Type::Recursive(a), Type::Recursive(b)) => a.definition(db) == b.definition(db),
             _ => false,
         }