diff --git a/crates/gpui_elements/src/editable_text/input_element.rs b/crates/gpui_elements/src/editable_text/input_element.rs
index a8a55e37cd..e17bc65332 100644
--- a/crates/gpui_elements/src/editable_text/input_element.rs
+++ b/crates/gpui_elements/src/editable_text/input_element.rs
@@ -206,8 +206,12 @@ impl Element for TextInputElement {
 
         // TODO: no wrapping in single-line
         let wrap_width = Some(bounds.size.width);
-        let wrapping = TextLayoutWrapping::new(request_layout.text_style.clone(), wrap_width);
         let showing_placeholder = request_layout.state.update(cx, |state, _cx| {
+            let wrapping = TextLayoutWrapping::new(
+                request_layout.text_style.clone(),
+                wrap_width,
+                state.storage().version(),
+            );
             let show_placeholder = state.storage().content_utf8().is_empty();
             state.layout_data.bounds = bounds;
             if state.layout_wrapping.integrate(wrapping) {
diff --git a/crates/gpui_elements/src/editable_text/shared_state.rs b/crates/gpui_elements/src/editable_text/shared_state.rs
index 865b9b5eb1..be643359dc 100644
--- a/crates/gpui_elements/src/editable_text/shared_state.rs
+++ b/crates/gpui_elements/src/editable_text/shared_state.rs
@@ -4,7 +4,7 @@ use crate::editable_text::{
 };
 use gpui::{
     App, Bounds, ClipboardItem, Entity, FocusHandle, Focusable, Hsla, NavigationDirection, Pixels,
-    Point, ShapedLine, SharedString, TextRun, TextStyle, UTF16Selection, Window, WrappedLine,
+    Point, SharedString, TextRun, TextStyle, UTF16Selection, Window, WrappedLine,
 };
 use std::{ops::Range, sync::Arc};
 
@@ -58,25 +58,32 @@ pub struct TextInputStateBase {
     pub(super) layout_data: TextInputLayoutData,
 }
 
-#[derive(Default)]
+#[derive(PartialEq)]
 pub(super) struct TextLayoutWrapping {
     text_style: TextStyle,
     wrap_width: Option<Pixels>,
-    dirty: bool,
+    last_seen_storage_version: u16,
+}
+impl Default for TextLayoutWrapping {
+    fn default() -> Self {
+        Self {
+            text_style: Default::default(),
+            wrap_width: Default::default(),
+            last_seen_storage_version: u16::MAX,
+        }
+    }
 }
 impl TextLayoutWrapping {
-    pub fn new(text_style: TextStyle, wrap_width: Option<Pixels>) -> Self {
+    pub fn new(text_style: TextStyle, wrap_width: Option<Pixels>, storage_version: u16) -> Self {
         Self {
             text_style,
             wrap_width,
-            dirty: false,
+            last_seen_storage_version: storage_version,
         }
     }
 
     pub fn integrate(&mut self, other: Self) -> bool {
-        let dirty = self.dirty
-            || self.wrap_width != other.wrap_width
-            || self.text_style != other.text_style;
+        let dirty = *self != other;
         *self = other;
         dirty
     }
@@ -125,10 +132,7 @@ impl TextInputStateBase {
 
             focus_handle: cx.focus_handle(),
 
-            layout_wrapping: TextLayoutWrapping {
-                dirty: true,
-                ..TextLayoutWrapping::default()
-            },
+            layout_wrapping: TextLayoutWrapping::default(),
             layout_data: TextInputLayoutData::default(),
         }
     }
@@ -166,11 +170,11 @@ impl TextInputStateBase {
 }
 
 impl TextInputStateBase {
-    pub fn line_segments(&self) -> &Vec<TextLineSegment> {
+    pub(super) fn line_segments(&self) -> &Vec<TextLineSegment> {
         &self.layout_data.lines
     }
 
-    pub fn build_wrapped_lines(
+    pub(super) fn build_wrapped_lines(
         content: &str,
         wrapping: &TextLayoutWrapping,
         window: &Window,
diff --git a/crates/gpui_elements/src/editable_text/storage.rs b/crates/gpui_elements/src/editable_text/storage.rs
index e5b2422e65..5da6debeee 100644
--- a/crates/gpui_elements/src/editable_text/storage.rs
+++ b/crates/gpui_elements/src/editable_text/storage.rs
@@ -18,13 +18,15 @@ pub(super) struct InitStorage(Option<Rc<dyn Fn(&mut App) -> Box<dyn UnicodeTextS
 impl InitStorage {
     pub fn exec(&self, cx: &mut App) -> Box<dyn UnicodeTextStorage> {
         match &self.0 {
-            None => Box::new(String::new()),
+            None => Box::new(StringStorage::default()),
             Some(init) => (*init)(cx),
         }
     }
 }
 
 pub trait UnicodeTextStorage {
+    fn version(&self) -> u16;
+
     /// Returns a reference to the utf8 string.
     fn content_utf8(&self) -> &str;
 
@@ -215,16 +217,34 @@ pub trait UnicodeTextStorage {
     }
 }
 
-impl UnicodeTextStorage for String {
+#[derive(Default)]
+pub struct StringStorage {
+    value: String,
+    version: u16,
+}
+impl From<String> for StringStorage {
+    fn from(value: String) -> Self {
+        Self {
+            value,
+            version: u16::default(),
+        }
+    }
+}
+impl UnicodeTextStorage for StringStorage {
+    fn version(&self) -> u16 {
+        self.version
+    }
+
     fn content_utf8(&self) -> &str {
-        self.as_str()
+        self.value.as_str()
     }
 
     fn len_utf16(&self) -> usize {
-        self.len()
+        self.value.chars().map(|c| c.len_utf16()).sum()
     }
 
     fn replace_range(&mut self, range: Range<usize>, text: &str) {
-        self.replace_range(range, &text);
+        self.value.replace_range(range, &text);
+        self.version = self.version.wrapping_add(1);
     }
 }