diff --git a/src/Core/Components/List/FluentAutocomplete.razor.cs b/src/Core/Components/List/FluentAutocomplete.razor.cs
index 4caf6768aa..63540cb29b 100644
--- a/src/Core/Components/List/FluentAutocomplete.razor.cs
+++ b/src/Core/Components/List/FluentAutocomplete.razor.cs
@@ -22,9 +22,13 @@ public partial class FluentAutocomplete<TOption, TValue> : FluentListBase<TOptio
     private static readonly Icon BadgeCloseIcon = new CoreIcons.Regular.Size20.Dismiss();
     private static readonly Icon ClearIcon = new CoreIcons.Regular.Size20.Dismiss();
 
+    private readonly EqualityComparer<TValue> ValueComparer = EqualityComparer<TValue>.Default;
+    private readonly EqualityComparer<TOption> OptionComparer = EqualityComparer<TOption>.Default;
+
     private string? _textInput;
     private bool _isOpen;
     private bool _inProgress;
+    private TValue? _previousValue;
 
     // List of items used in the internally filtered listbox
     private List<TOption> _internalFilteredItems = [];
@@ -218,34 +222,21 @@ protected override async Task OnAfterRenderAsync(bool firstRender)
     }
 
     /// <summary />
-    public override async Task SetParametersAsync(ParameterView parameters)
+    protected override async Task OnParametersSetAsync()
     {
-        // Check if SelectedItem is being supplied and has changed
-        if (parameters.TryGetValue<TOption?>(nameof(SelectedItem), out var newSelectedItem))
+        // This part of code cannot be moved to SetParametersAsync because we are invoking `OnSetValue` which is async,
+        // and SetParametersAsync doesn't allow awaiting other async calls inside it.
+        if (!ValueComparer.Equals(Value, _previousValue) && OnSetValue.HasDelegate)
         {
-            var comparer = OptionSelectedComparer ?? EqualityComparer<TOption>.Default;
-            var currentSelectedItem = _internalSelectedItem;
-
-            if (!comparer.Equals(newSelectedItem, currentSelectedItem))
-            {
-                // Sync _internalSelectedItems with the new value
-                _internalSelectedItems = newSelectedItem is not null ? [newSelectedItem] : [];
-                SelectedItem = newSelectedItem;
-            }
-        }
+            _previousValue = Value;
 
-        // Check if Value is being supplied and has changed (e.g. set by the developer during initialization).
-        // If so, resolve the associated option via the OnSetValue callback and synchronize the selection.
-        if (parameters.TryGetValue<TValue?>(nameof(Value), out var newValue))
-        {
-            var valueComparer = EqualityComparer<TValue>.Default;
             var currentValue = GetOptionValue(_internalSelectedItem);
 
-            if (!valueComparer.Equals(newValue, currentValue) && OnSetValue.HasDelegate)
+            if (!ValueComparer.Equals(Value, currentValue))
             {
                 var args = new SetValueEventArgs<TOption, TValue>
                 {
-                    Value = newValue,
+                    Value = Value,
                 };
 
                 await OnSetValue.InvokeAsync(args);
@@ -263,6 +254,26 @@ public override async Task SetParametersAsync(ParameterView parameters)
             }
         }
 
+        await base.OnParametersSetAsync();
+    }
+
+    /// <summary />
+    public override async Task SetParametersAsync(ParameterView parameters)
+    {
+        // Check if SelectedItem is being supplied and has changed
+        if (parameters.TryGetValue<TOption?>(nameof(SelectedItem), out var newSelectedItem))
+        {
+            var comparer = OptionSelectedComparer ?? OptionComparer;
+            var currentSelectedItem = _internalSelectedItem;
+
+            if (!comparer.Equals(newSelectedItem, currentSelectedItem))
+            {
+                // Sync _internalSelectedItems with the new value
+                _internalSelectedItems = newSelectedItem is not null ? [newSelectedItem] : [];
+                SelectedItem = newSelectedItem;
+            }
+        }
+
         await base.SetParametersAsync(parameters);
     }
 
@@ -271,7 +282,7 @@ public override async Task SetParametersAsync(ParameterView parameters)
     /// </summary>
     private async Task InternalSelectedItemsChangedHandlerAsync(IEnumerable<TOption> items)
     {
-        var comparer = OptionSelectedComparer ?? EqualityComparer<TOption>.Default;
+        var comparer = OptionSelectedComparer ?? OptionComparer;
         var itemsToAdd = items.Where(item => !_internalSelectedItems.Contains(item, comparer)).ToList();
         var itemsToRemove = _internalFilteredItems.Where(item => !items.Contains(item, comparer)).ToList();
 
diff --git a/tests/Core/Components/List/FluentAutocompleteTests.razor b/tests/Core/Components/List/FluentAutocompleteTests.razor
index ed0f8960d7..7f6c1fde36 100644
--- a/tests/Core/Components/List/FluentAutocompleteTests.razor
+++ b/tests/Core/Components/List/FluentAutocompleteTests.razor
@@ -1084,6 +1084,71 @@
         Assert.Empty(cut.FindAll("span.fluent-badge"));
     }
 
+    [Fact]
+    public void FluentAutocomplete_OnSetValue_InitialBoundValue_SelectsItemOnFirstRender()
+    {
+        // Arrange - Bind Value with an initial value BEFORE the component renders
+        SetValueEventArgs<string, string>? receivedArgs = null;
+        var value = "Three";
+
+        // Act - Render the component; OnParametersSetAsync should invoke OnSetValue to resolve the initial Value
+        var cut = Render(@<FluentAutocomplete Id="my-list"
+                                TOption="string"
+                                TValue="string"
+                                Multiple="false"
+                                Items="@Digits"
+                                @bind-Value="@value"
+                                OnSetValue="@(args => { receivedArgs = args; args.Item = Digits.FirstOrDefault(d => d == args.Value); })" />);
+
+        // Assert - OnSetValue was invoked with the initial Value
+        Assert.NotNull(receivedArgs);
+        Assert.Equal("Three", receivedArgs!.Value);
+
+        // Assert - The resolved item is selected and displayed as a badge on the first render
+        var component = cut.FindComponent<FluentAutocomplete<string, string>>().Instance;
+        Assert.Equal("Three", component.SelectedItem);
+        Assert.Single(component.SelectedItems);
+        Assert.Contains("Three", component.SelectedItems);
+
+        var badge = cut.Find("span.fluent-badge[alone]");
+        Assert.Equal("Three", badge.GetAttribute("title"));
+    }
+
+    [Fact]
+    public async Task FluentAutocomplete_OnSetValue_AsyncHandler_SelectsResolvedItem()
+    {
+        // Arrange - OnSetValue is an async handler; bind an initial Value before the first render
+        var value = "Six";
+
+        var cut = Render(@<FluentAutocomplete Id="my-list"
+                                TOption="string"
+                                TValue="string"
+                                Multiple="false"
+                                Items="@Digits"
+                                @bind-Value="@value"
+                                OnSetValue="@(async args => { await Task.Yield(); args.Item = Digits.FirstOrDefault(d => d == args.Value); })" />);
+
+        // Assert - The async handler resolved the initial Value and selected the matching item
+        var component = cut.FindComponent<FluentAutocomplete<string, string>>().Instance;
+        cut.WaitForAssertion(() => Assert.Equal("Six", cut.Find("span.fluent-badge[alone]").GetAttribute("title")));
+        Assert.Equal("Six", component.SelectedItem);
+        Assert.Single(component.SelectedItems);
+        Assert.Contains("Six", component.SelectedItems);
+
+        // Act - Change the Value externally to validate that the async handler also runs after render
+        var newParameters = ParameterView.FromDictionary(new Dictionary<string, object?>
+        {
+            { nameof(FluentAutocomplete<string, string>.Value), "Two" }
+        });
+        await cut.InvokeAsync(() => component.SetParametersAsync(newParameters));
+
+        // Assert - The async handler resolved the new Value and the selection was updated
+        cut.WaitForAssertion(() => Assert.Equal("Two", cut.Find("span.fluent-badge[alone]").GetAttribute("title")));
+        Assert.Equal("Two", component.SelectedItem);
+        Assert.Single(component.SelectedItems);
+        Assert.Contains("Two", component.SelectedItems);
+    }
+
     private void OnOptionsSearch(OptionsSearchEventArgs<string> e)
     {
         e.Items = Digits.Where(i => i.StartsWith(e.Text, StringComparison.OrdinalIgnoreCase))