diff --git a/lib/internal/streams/iter/share.js b/lib/internal/streams/iter/share.js
index 3cd24409222712..f755550712efa7 100644
--- a/lib/internal/streams/iter/share.js
+++ b/lib/internal/streams/iter/share.js
@@ -113,6 +113,7 @@ class ShareImpl {
       resolve: null,
       reject: null,
       detached: false,
+      pendingNext: PromiseResolve(),
     };
 
     this.#consumers.add(state);
@@ -129,62 +130,72 @@ class ShareImpl {
     return {
       __proto__: null,
       [SymbolAsyncIterator]() {
-        return {
-          __proto__: null,
-          async next() {
-            if (self.#sourceError) {
-              state.detached = true;
-              self.#consumers.delete(state);
-              throw self.#sourceError;
+        const getNext = async () => {
+          if (self.#sourceError) {
+            state.detached = true;
+            self.#consumers.delete(state);
+            throw self.#sourceError;
+          }
+
+          // Loop until we get data, source is exhausted, or
+          // consumer is detached. Multiple consumers may be woken
+          // after a single pull - those that find no data at their
+          // cursor must re-pull rather than terminating prematurely.
+          for (;;) {
+            if (state.detached) {
+              if (self.#sourceError) throw self.#sourceError;
+              return { __proto__: null, done: true, value: undefined };
             }
 
-            // Loop until we get data, source is exhausted, or
-            // consumer is detached. Multiple consumers may be woken
-            // after a single pull - those that find no data at their
-            // cursor must re-pull rather than terminating prematurely.
-            for (;;) {
-              if (state.detached) {
-                if (self.#sourceError) throw self.#sourceError;
-                return { __proto__: null, done: true, value: undefined };
-              }
+            if (self.#cancelled) {
+              state.detached = true;
+              self.#deleteConsumer(state);
+              return { __proto__: null, done: true, value: undefined };
+            }
 
-              if (self.#cancelled) {
-                state.detached = true;
-                self.#deleteConsumer(state);
-                return { __proto__: null, done: true, value: undefined };
+            // Check if data is available in buffer
+            const bufferIndex = state.cursor - self.#bufferStart;
+            if (bufferIndex < self.#buffer.length) {
+              const chunk = self.#buffer.get(bufferIndex);
+              const cursor = state.cursor;
+              state.cursor++;
+              if (cursor === self.#cachedMinCursor &&
+                  --self.#cachedMinCursorConsumers === 0) {
+                self.#tryTrimBuffer();
               }
+              return { __proto__: null, done: false, value: chunk };
+            }
 
-              // Check if data is available in buffer
-              const bufferIndex = state.cursor - self.#bufferStart;
-              if (bufferIndex < self.#buffer.length) {
-                const chunk = self.#buffer.get(bufferIndex);
-                const cursor = state.cursor;
-                state.cursor++;
-                if (cursor === self.#cachedMinCursor &&
-                    --self.#cachedMinCursorConsumers === 0) {
-                  self.#tryTrimBuffer();
-                }
-                return { __proto__: null, done: false, value: chunk };
-              }
+            if (self.#sourceExhausted) {
+              state.detached = true;
+              self.#deleteConsumer(state);
+              if (self.#sourceError) throw self.#sourceError;
+              return { __proto__: null, done: true, value: undefined };
+            }
 
-              if (self.#sourceExhausted) {
-                state.detached = true;
-                self.#deleteConsumer(state);
-                if (self.#sourceError) throw self.#sourceError;
-                return { __proto__: null, done: true, value: undefined };
-              }
+            // Need to pull from source - check buffer limit
+            const canPull = await self.#waitForBufferSpace();
+            if (!canPull) {
+              state.detached = true;
+              self.#deleteConsumer(state);
+              if (self.#sourceError) throw self.#sourceError;
+              return { __proto__: null, done: true, value: undefined };
+            }
 
-              // Need to pull from source - check buffer limit
-              const canPull = await self.#waitForBufferSpace();
-              if (!canPull) {
-                state.detached = true;
-                self.#deleteConsumer(state);
-                if (self.#sourceError) throw self.#sourceError;
-                return { __proto__: null, done: true, value: undefined };
-              }
+            await self.#pullFromSource();
+          }
+        };
 
-              await self.#pullFromSource();
-            }
+        return {
+          __proto__: null,
+          next() {
+            const next = PromisePrototypeThen(
+              state.pendingNext,
+              getNext,
+              getNext);
+            state.pendingNext =
+              PromisePrototypeThen(next, undefined, () => {});
+            return next;
           },
 
           async return() {
diff --git a/test/parallel/test-stream-iter-share-async.js b/test/parallel/test-stream-iter-share-async.js
index 076fe0a4037aa0..2633ae64e2b907 100644
--- a/test/parallel/test-stream-iter-share-async.js
+++ b/test/parallel/test-stream-iter-share-async.js
@@ -309,6 +309,24 @@ async function testShareMultipleConsumersConcurrentPull() {
   assert.strictEqual(t3, expected);
 }
 
+async function testShareConsumerConcurrentNextCalls() {
+  async function* source() {
+    const enc = new TextEncoder();
+    yield [enc.encode('first')];
+    yield [enc.encode('second')];
+  }
+
+  const shared = share(source());
+  const it = shared.pull()[Symbol.asyncIterator]();
+  const first = it.next();
+  const second = it.next();
+
+  const [r1, r2] = await Promise.all([first, second]);
+  const dec = new TextDecoder();
+  assert.strictEqual(dec.decode(r1.value[0]), 'first');
+  assert.strictEqual(dec.decode(r2.value[0]), 'second');
+}
+
 // share() accepts string source directly (normalized via from())
 async function testShareStringSource() {
   const shared = share('hello-share');
@@ -330,5 +348,6 @@ Promise.all([
   testShareLateJoiningConsumer(),
   testShareConsumerBreak(),
   testShareMultipleConsumersConcurrentPull(),
+  testShareConsumerConcurrentNextCalls(),
   testShareStringSource(),
 ]).then(common.mustCall());