diff --git a/sqlparser_bench/benches/sqlparser_bench.rs b/sqlparser_bench/benches/sqlparser_bench.rs
index 46c201540..d0c934b26 100644
--- a/sqlparser_bench/benches/sqlparser_bench.rs
+++ b/sqlparser_bench/benches/sqlparser_bench.rs
@@ -16,7 +16,7 @@
 // under the License.
 
 use criterion::{criterion_group, criterion_main, Criterion};
-use sqlparser::dialect::GenericDialect;
+use sqlparser::dialect::{GenericDialect, PostgreSqlDialect};
 use sqlparser::keywords::Keyword;
 use sqlparser::parser::Parser;
 use sqlparser::tokenizer::{Span, Word};
@@ -177,11 +177,37 @@ fn parse_compound_chain(c: &mut Criterion) {
     group.finish();
 }
 
+/// Benchmark parsing pathological named-arg chains that previously caused
+/// 2^N work in `parse_function_args` on dialects with expression-named
+/// function arguments (PostgreSQL, MSSQL). Each `--<newline>` swallows the
+/// trailing `,i)`, leaving a chain of unterminated function calls that the
+/// previous `maybe_parse(parse_expr)` re-walked on rollback.
+fn parse_named_arg_chain(c: &mut Criterion) {
+    let mut group = c.benchmark_group("parse_named_arg_chain");
+    let dialect = PostgreSqlDialect {};
+
+    for &n in &[5usize, 10, 15] {
+        let body = std::iter::repeat_n(".foo(t--,i)", n)
+            .collect::<Vec<_>>()
+            .join("\n");
+        let sql = format!("SELECT Y\n{body}");
+
+        group.bench_function(format!("chain_{n}"), |b| {
+            b.iter(|| {
+                let _ = Parser::parse_sql(&dialect, std::hint::black_box(&sql));
+            });
+        });
+    }
+
+    group.finish();
+}
+
 criterion_group!(
     benches,
     basic_queries,
     word_to_ident,
     parse_many_identifiers,
-    parse_compound_chain
+    parse_compound_chain,
+    parse_named_arg_chain
 );
 criterion_main!(benches);
diff --git a/src/parser/mod.rs b/src/parser/mod.rs
index 91ac386ae..c97ece2da 100644
--- a/src/parser/mod.rs
+++ b/src/parser/mod.rs
@@ -18357,19 +18357,8 @@ impl<'a> Parser<'a> {
 
     /// Parse a single function argument, handling named and unnamed variants.
     pub fn parse_function_args(&mut self) -> Result<FunctionArg, ParserError> {
-        let arg = if self.dialect.supports_named_fn_args_with_expr_name() {
-            self.maybe_parse(|p| {
-                let name = p.parse_expr()?;
-                let operator = p.parse_function_named_arg_operator()?;
-                let arg = p.parse_wildcard_expr()?.into();
-                Ok(FunctionArg::ExprNamed {
-                    name,
-                    arg,
-                    operator,
-                })
-            })?
-        } else {
-            self.maybe_parse(|p| {
+        if !self.dialect.supports_named_fn_args_with_expr_name() {
+            if let Some(arg) = self.maybe_parse(|p| {
                 let name = p.parse_identifier()?;
                 let operator = p.parse_function_named_arg_operator()?;
                 let arg = p.parse_wildcard_expr()?.into();
@@ -18378,12 +18367,35 @@ impl<'a> Parser<'a> {
                     arg,
                     operator,
                 })
-            })?
-        };
-        if let Some(arg) = arg {
-            return Ok(arg);
+            })? {
+                return Ok(arg);
+            }
         }
+
+        // Parse the leading expression once, then speculatively parse the
+        // named-arg tail `<op> <expr>`. The previous implementation also
+        // speculated on the name itself via `maybe_parse(parse_expr ...)`,
+        // which produced ~2^N work on chains like
+        // `SELECT Y\n.foo(t--\n.foo(t--\n...` because rollback re-walked
+        // deeply nested function calls. Same family of bug as #2344.
         let wildcard_expr = self.parse_wildcard_expr()?;
+        if self.dialect.supports_named_fn_args_with_expr_name()
+            && !matches!(wildcard_expr, Expr::Wildcard(_))
+        {
+            if let Some((operator, arg)) = self.maybe_parse(|p| {
+                Ok((
+                    p.parse_function_named_arg_operator()?,
+                    p.parse_wildcard_expr()?,
+                ))
+            })? {
+                return Ok(FunctionArg::ExprNamed {
+                    name: wildcard_expr,
+                    arg: arg.into(),
+                    operator,
+                });
+            }
+        }
+
         let arg_expr: FunctionArgExpr = match wildcard_expr {
             Expr::Wildcard(ref token) if self.dialect.supports_select_wildcard_exclude() => {
                 // Support `* EXCLUDE(col1, col2, ...)` inside function calls (e.g. Snowflake's
diff --git a/tests/sqlparser_common.rs b/tests/sqlparser_common.rs
index f470b93ca..cfb7e1596 100644
--- a/tests/sqlparser_common.rs
+++ b/tests/sqlparser_common.rs
@@ -19004,3 +19004,30 @@ fn parse_compound_chain_no_exponential_blowup() {
     rx.recv_timeout(Duration::from_secs(5))
         .expect("parser should reject this quickly, not loop exponentially");
 }
+
+/// Regression test for the 2^N parse-time blowup in `parse_function_args` on
+/// dialects that allow `<expr> <op> <expr>` named args (PostgreSQL, MSSQL).
+/// Each `--<newline>` swallows the trailing `,i)`, leaving a chain of
+/// unterminated function calls that the previous `maybe_parse(parse_expr)`
+/// re-walked on rollback. Post-fix the parser returns `Err` in well under
+/// a millisecond.
+#[test]
+fn parse_named_arg_chain_no_exponential_blowup() {
+    use std::sync::mpsc;
+    use std::thread;
+    use std::time::Duration;
+
+    let body: String = std::iter::repeat_n(".foo(t--,i)", 25)
+        .collect::<Vec<_>>()
+        .join("\n");
+    let sql = format!("SELECT Y\n{body}");
+
+    let (tx, rx) = mpsc::channel();
+    thread::spawn(move || {
+        let _ = Parser::parse_sql(&PostgreSqlDialect {}, &sql);
+        let _ = tx.send(());
+    });
+
+    rx.recv_timeout(Duration::from_secs(5))
+        .expect("PostgreSQL parser should reject this quickly, not loop exponentially");
+}