diff --git a/packages/react-client/src/__tests__/ReactFlight-test.js b/packages/react-client/src/__tests__/ReactFlight-test.js
index 0c482f72cdc5..2661503b1333 100644
--- a/packages/react-client/src/__tests__/ReactFlight-test.js
+++ b/packages/react-client/src/__tests__/ReactFlight-test.js
@@ -2820,7 +2820,8 @@ describe('ReactFlight', () => {
             ]
           : undefined,
       );
-      expect(getDebugInfo(thirdPartyChildren[2])).toEqual(
+      const fragment = thirdPartyChildren[2];
+      expect(getDebugInfo(fragment)).toEqual(
         __DEV__
           ? [
               {time: gate(flags => flags.enableAsyncDebugInfo) ? 54 : 22},
@@ -2835,6 +2836,9 @@ describe('ReactFlight', () => {
             ]
           : undefined,
       );
+      expect(getDebugInfo(fragment.props.children[0])).toEqual(
+        __DEV__ ? null : undefined,
+      );
       ReactNoop.render(result);
     });
 
@@ -2847,6 +2851,61 @@ describe('ReactFlight', () => {
     );
   });
 
+  it('preserves debug info for keyed Fragment', async () => {
+    function App() {
+      return ReactServer.createElement(
+        ReactServer.Fragment,
+        {key: 'app'},
+        ReactServer.createElement('h1', null, 'App'),
+        ReactServer.createElement('div', null, 'Child'),
+      );
+    }
+
+    const transport = ReactNoopFlightServer.render(
+      ReactServer.createElement(
+        ReactServer.Fragment,
+        null,
+        ReactServer.createElement('link', {key: 'styles'}),
+        ReactServer.createElement(App, null),
+      ),
+    );
+
+    await act(async () => {
+      const root = await ReactNoopFlightClient.read(transport);
+
+      const fragment = root[1];
+      expect(getDebugInfo(fragment)).toEqual(
+        __DEV__
+          ? [
+              {time: 12},
+              {
+                name: 'App',
+                env: 'Server',
+                key: null,
+                stack: '    in Object.<anonymous> (at **)',
+                props: {},
+              },
+              {time: 13},
+            ]
+          : undefined,
+      );
+      // Making sure debug info doesn't get added multiple times on Fragment children
+      expect(getDebugInfo(fragment[0])).toEqual(__DEV__ ? null : undefined);
+      const fragmentChild = fragment[0].props.children[0];
+      expect(getDebugInfo(fragmentChild)).toEqual(__DEV__ ? null : undefined);
+
+      ReactNoop.render(root);
+    });
+
+    expect(ReactNoop).toMatchRenderedOutput(
+      <>
+        <link />
+        <h1>App</h1>
+        <div>Child</div>
+      </>,
+    );
+  });
+
   // @gate enableAsyncIterableChildren && enableComponentPerformanceTrack
   it('preserves debug info for server-to-server pass through of async iterables', async () => {
     let resolve;
diff --git a/packages/react-devtools-shared/src/__tests__/store-test.js b/packages/react-devtools-shared/src/__tests__/store-test.js
index 8c9beb185443..5e39a0fe68f9 100644
--- a/packages/react-devtools-shared/src/__tests__/store-test.js
+++ b/packages/react-devtools-shared/src/__tests__/store-test.js
@@ -2827,6 +2827,40 @@ describe('Store', () => {
       `);
   });
 
+  // @reactVersion >= 19.0
+  it('does not duplicate Server Component parents in keyed Fragments', async () => {
+    // TODO: Use an actual Flight renderer.
+    // See ReactFlight-test for the produced JSX from Flight.
+    function ClientComponent() {
+      return null;
+    }
+    // This used to be a keyed Fragment on the Server.
+    const children = [<ClientComponent key="app" />];
+    children._debugInfo = [
+      {time: 12},
+      {
+        name: 'App',
+        env: 'Server',
+        key: null,
+        stack: '    in Object.<anonymous> (at **)',
+        props: {},
+      },
+      {time: 13},
+    ];
+
+    const container = document.createElement('div');
+    const root = ReactDOMClient.createRoot(container);
+    await actAsync(() => {
+      root.render([children]);
+    });
+
+    expect(store).toMatchInlineSnapshot(`
+      [root]
+        ▾ <App> [Server]
+            <ClientComponent key="app">
+    `);
+  });
+
   // @reactVersion >= 17.0
   it('can reconcile Suspense in fallback positions', async () => {
     let resolveFallback;
diff --git a/packages/react-reconciler/src/ReactChildFiber.js b/packages/react-reconciler/src/ReactChildFiber.js
index 2a726447263c..42f1b70918d3 100644
--- a/packages/react-reconciler/src/ReactChildFiber.js
+++ b/packages/react-reconciler/src/ReactChildFiber.js
@@ -789,6 +789,7 @@ function createChildReconciler(
           // We treat the parent as the owner for stack purposes.
           created._debugOwner = returnFiber;
           created._debugTask = returnFiber._debugTask;
+          // Make sure to not push again when handling the Fragment child.
           const prevDebugInfo = pushDebugInfo(newChild._debugInfo);
           created._debugInfo = currentDebugInfo;
           currentDebugInfo = prevDebugInfo;
@@ -1915,26 +1916,26 @@ function createChildReconciler(
       }
 
       if (isArray(newChild)) {
-        const prevDebugInfo = pushDebugInfo(newChild._debugInfo);
+        // We created a Fragment for this child with the debug info.
+        // No need to push again.
         const firstChild = reconcileChildrenArray(
           returnFiber,
           currentFirstChild,
           newChild,
           lanes,
         );
-        currentDebugInfo = prevDebugInfo;
         return firstChild;
       }
 
       if (getIteratorFn(newChild)) {
-        const prevDebugInfo = pushDebugInfo(newChild._debugInfo);
+        // We created a Fragment for this child with the debug info.
+        // No need to push again.
         const firstChild = reconcileChildrenIteratable(
           returnFiber,
           currentFirstChild,
           newChild,
           lanes,
         );
-        currentDebugInfo = prevDebugInfo;
         return firstChild;
       }
 
@@ -1942,14 +1943,14 @@ function createChildReconciler(
         enableAsyncIterableChildren &&
         typeof newChild[ASYNC_ITERATOR] === 'function'
       ) {
-        const prevDebugInfo = pushDebugInfo(newChild._debugInfo);
+        // We created a Fragment for this child with the debug info.
+        // No need to push again.
         const firstChild = reconcileChildrenAsyncIteratable(
           returnFiber,
           currentFirstChild,
           newChild,
           lanes,
         );
-        currentDebugInfo = prevDebugInfo;
         return firstChild;
       }