diff --git a/src/vs/workbench/contrib/chat/browser/widget/chatListRenderer.ts b/src/vs/workbench/contrib/chat/browser/widget/chatListRenderer.ts
index 47d1d634c6c..718d6ed92eb 100644
--- a/src/vs/workbench/contrib/chat/browser/widget/chatListRenderer.ts
+++ b/src/vs/workbench/contrib/chat/browser/widget/chatListRenderer.ts
@@ -2326,7 +2326,9 @@ export class ChatListItemRenderer extends Disposable implements ITreeRenderer<Ch
 
 	private renderMarkdown(markdown: IChatMarkdownContent, templateData: IChatListItemTemplate, context: IChatContentPartRenderContext): IChatContentPart {
 		const element = context.element;
-		const isFinalAnswerPart = isResponseVM(element) && element.isComplete && context.contentIndex === context.content.length - 1;
+		const isFinalRenderPass = isResponseVM(element) && element.isComplete && !element.renderData;
+		const lastPinnedPartIndex = isFinalRenderPass ? context.content.findLastIndex(c => c.kind === 'thinking' || c.kind === 'toolInvocation' || c.kind === 'toolInvocationSerialized') : -1;
+		const isFinalAnswerPart = isFinalRenderPass && context.contentIndex > lastPinnedPartIndex;
 		if (!this.hasCodeblockUri(markdown) || isFinalAnswerPart) {
 			this.finalizeCurrentThinkingPart(context, templateData);
 		}