diff --git a/compiler/src/iree/compiler/Dialect/Stream/IR/StreamOpFolders.cpp b/compiler/src/iree/compiler/Dialect/Stream/IR/StreamOpFolders.cpp
index 3b75830..d67ec79 100644
--- a/compiler/src/iree/compiler/Dialect/Stream/IR/StreamOpFolders.cpp
+++ b/compiler/src/iree/compiler/Dialect/Stream/IR/StreamOpFolders.cpp
@@ -2584,6 +2584,7 @@
       // there. We rely on other canonicalizers to sink things such that
       // (hopefully) we get them directly accessible here.
       if (use.getOwner() == op) continue;
+      if (op->getBlock() != use.getOwner()->getBlock()) continue;
       if (dominanceInfo.dominates(use.getOwner(), op)) continue;
       auto awaitOp = dyn_cast<TimepointAwaitOp>(use.getOwner());
       if (!awaitOp ||
diff --git a/compiler/src/iree/compiler/Dialect/Stream/IR/test/timepoint_folding.mlir b/compiler/src/iree/compiler/Dialect/Stream/IR/test/timepoint_folding.mlir
index 146ae41..f8edd40 100644
--- a/compiler/src/iree/compiler/Dialect/Stream/IR/test/timepoint_folding.mlir
+++ b/compiler/src/iree/compiler/Dialect/Stream/IR/test/timepoint_folding.mlir
@@ -210,6 +210,37 @@
 
 // -----
 
+// Tests that the pattern doesn't kick in when the same timepoint are waited in
+// different blocks.
+
+func.func private @materializeResource() -> !stream.resource<*>
+
+// CHECK-LABEL: @DontGroupAwaitsByTimepointAcrossBlocks
+func.func @DontGroupAwaitsByTimepointAcrossBlocks(
+  %arg0: !stream.timepoint,
+  %arg1: !stream.resource<*>,
+  %arg2: i1
+) -> !stream.resource<*> {
+  %c100 = arith.constant 100 : index
+  %c101 = arith.constant 101 : index
+  %0 = stream.timepoint.await %arg0 => %arg1 : !stream.resource<*>{%c100}
+  // CHECK: cf.cond_br
+  cf.cond_br %arg2, ^bb0, ^bb1
+// CHECK: ^bb
+^bb0:
+  // CHECK: stream.timepoint.await %arg0 => %arg1
+  return %0 : !stream.resource<*>
+// CHECK: ^bb
+^bb1:
+  // CHECK: %[[R:.+]] = call @materializeResource
+  %r = call @materializeResource() : () -> !stream.resource<*>
+  // CHECK: stream.timepoint.await %arg0 => %[[R]]
+  %1 = stream.timepoint.await %arg0 => %r : !stream.resource<*>{%c101}
+  return %1 : !stream.resource<*>
+}
+
+// -----
+
 // CHECK-LABEL: @FoldDuplicateAwaitResources
 func.func @FoldDuplicateAwaitResources(
   %arg0: !stream.timepoint,