diff --git a/app/gui/integration-test/project-view/graphRenderNodes.spec.ts b/app/gui/integration-test/project-view/graphRenderNodes.spec.ts
index 3e21fcf4cd73..4cf5aa80de1b 100644
--- a/app/gui/integration-test/project-view/graphRenderNodes.spec.ts
+++ b/app/gui/integration-test/project-view/graphRenderNodes.spec.ts
@@ -1,6 +1,7 @@
 import { test } from '@playwright/test'
 import * as actions from './actions'
 import { expect } from './customExpect'
+import { mockExpressionUpdate } from './expressionUpdates'
 import * as locate from './locate'
 
 test('graph can open and render nodes', async ({ page }) => {
@@ -16,3 +17,12 @@ test('graph can open and render nodes', async ({ page }) => {
   const finalNode = locate.graphNodeByBinding(page, 'final')
   await expect(finalNode.locator('.WidgetToken')).toHaveText(['Main', '.', 'func1', 'prod'])
 })
+
+test('Component icon indicates evaluation in progress', async ({ page }) => {
+  await actions.goToGraph(page)
+
+  const node = locate.graphNodeByBinding(page, 'final')
+  await expect(node.locator('.WidgetIcon .LoadingSpinner')).not.toBeVisible()
+  await mockExpressionUpdate(page, 'final', { payload: { type: 'Pending', progress: 0.1 } })
+  await expect(node.locator('.WidgetIcon .LoadingSpinner')).toBeVisible()
+})
diff --git a/app/gui/src/project-view/components/GraphEditor/ComponentWidgetTree.vue b/app/gui/src/project-view/components/GraphEditor/ComponentWidgetTree.vue
index bd8ca327a577..2fc612b8d766 100644
--- a/app/gui/src/project-view/components/GraphEditor/ComponentWidgetTree.vue
+++ b/app/gui/src/project-view/components/GraphEditor/ComponentWidgetTree.vue
@@ -1,14 +1,14 @@
 <script setup lang="ts">
+import { DisplayIcon } from '@/components/GraphEditor/widgets/WidgetIcon.vue'
+import WidgetTreeRoot from '@/components/GraphEditor/WidgetTreeRoot.vue'
 import { injectGraphSelection } from '@/providers/graphSelection'
 import { WidgetInput, type WidgetUpdate } from '@/providers/widgetRegistry'
 import { WidgetEditHandlerParent } from '@/providers/widgetRegistry/editHandler'
 import { useGraphStore, type NodeId } from '@/stores/graph'
-import type { NodeType } from '@/stores/graph/graphDatabase'
+import { type NodeType } from '@/stores/graph/graphDatabase'
 import { Ast } from '@/util/ast'
-import { iconOfNode } from '@/util/getIconName'
-import { computed } from 'vue'
-import { DisplayIcon } from './widgets/WidgetIcon.vue'
-import WidgetTreeRoot from './WidgetTreeRoot.vue'
+import { iconOfNode, useDisplayedIcon } from '@/util/getIconName'
+import { computed, toRef } from 'vue'
 
 const props = defineProps<{
   ast: Ast.Expression
@@ -20,7 +20,13 @@ const props = defineProps<{
   conditionalPorts: Set<Ast.AstId>
   extended: boolean
 }>()
+
 const graph = useGraphStore()
+const selection = injectGraphSelection()
+
+const baseIcon = computed(() => iconOfNode(props.nodeId, graph.db))
+const { displayedIcon } = useDisplayedIcon(graph.db, toRef(props, 'nodeId'), baseIcon)
+
 const rootPort = computed(() => {
   const input = WidgetInput.FromAst(props.ast)
   if (
@@ -30,15 +36,14 @@ const rootPort = computed(() => {
     input.forcePort = true
   }
 
-  if (!props.potentialSelfArgumentId && topLevelIcon.value) {
+  if (!props.potentialSelfArgumentId) {
     input[DisplayIcon] = {
-      icon: topLevelIcon.value,
+      icon: displayedIcon.value,
       showContents: props.nodeType != 'output',
     }
   }
   return input
 })
-const selection = injectGraphSelection()
 
 function selectNode() {
   selection.setSelection(new Set([props.nodeId]))
@@ -77,8 +82,6 @@ function handleWidgetUpdates(update: WidgetUpdate) {
   return true
 }
 
-const topLevelIcon = computed(() => iconOfNode(props.nodeId, graph.db))
-
 function onCurrentEditChange(currentEdit: WidgetEditHandlerParent | undefined) {
   if (currentEdit) selectNode()
 }
diff --git a/app/gui/src/project-view/components/GraphEditor/widgets/WidgetIcon.vue b/app/gui/src/project-view/components/GraphEditor/widgets/WidgetIcon.vue
index 2f9168bffbed..5ec1be8a4ac2 100644
--- a/app/gui/src/project-view/components/GraphEditor/widgets/WidgetIcon.vue
+++ b/app/gui/src/project-view/components/GraphEditor/widgets/WidgetIcon.vue
@@ -1,11 +1,15 @@
 <script setup lang="ts">
+import NodeWidget from '@/components/GraphEditor/NodeWidget.vue'
+import LoadingSpinner from '@/components/shared/LoadingSpinner.vue'
 import SvgIcon from '@/components/SvgIcon.vue'
 import { Score, defineWidget, widgetProps } from '@/providers/widgetRegistry'
-import type { URLString } from '@/util/data/urlString'
-import type { Icon } from '@/util/iconMetadata/iconName'
-import NodeWidget from '../NodeWidget.vue'
+import { type URLString } from '@/util/data/urlString'
+import { type Icon } from '@/util/iconMetadata/iconName'
+import { computed } from 'vue'
 
 const props = defineProps(widgetProps(widgetDefinition))
+
+const icon = computed(() => props.input[DisplayIcon].icon)
 </script>
 
 <script lang="ts">
@@ -13,7 +17,7 @@ export const DisplayIcon: unique symbol = Symbol.for('WidgetInput:DisplayIcon')
 declare module '@/providers/widgetRegistry' {
   export interface WidgetInput {
     [DisplayIcon]?: {
-      icon: Icon | URLString
+      icon: Icon | URLString | '$evaluating'
       allowChoice?: boolean
       showContents?: boolean
     }
@@ -32,7 +36,16 @@ export const widgetDefinition = defineWidget(
 
 <template>
   <div class="WidgetIcon">
-    <SvgIcon class="nodeCategoryIcon grab-handle" :name="props.input[DisplayIcon].icon" />
+    <div class="iconContainer">
+      <Transition>
+        <LoadingSpinner
+          v-if="icon === '$evaluating'"
+          class="nodeCategoryIcon grab-handle"
+          :size="16"
+        />
+        <SvgIcon v-else class="nodeCategoryIcon grab-handle" :name="icon" />
+      </Transition>
+    </div>
     <NodeWidget v-if="props.input[DisplayIcon].showContents === true" :input="props.input" />
   </div>
 </template>
@@ -43,10 +56,33 @@ export const widgetDefinition = defineWidget(
   flex-direction: row;
   align-items: center;
   gap: var(--widget-token-pad-unit);
-
-  > .SvgIcon {
-    margin: 0 calc((var(--node-port-height) - 16px) / 2);
-    display: flex;
+}
+.iconContainer {
+  position: relative;
+  height: 16px;
+  width: 16px;
+  margin: 0 calc((var(--node-port-height) - 16px) / 2);
+}
+.nodeCategoryIcon {
+  position: absolute;
+}
+.LoadingSpinner {
+  border: 4px solid;
+  border-radius: 100%;
+  border-color: rgba(255, 255, 255, 90%) #0000;
+  animation: s1 0.8s infinite;
+}
+@keyframes s1 {
+  to {
+    transform: rotate(0.5turn);
   }
 }
+.v-enter-active,
+.v-leave-active {
+  transition: opacity 0.1s ease;
+}
+.v-enter-from,
+.v-leave-to {
+  opacity: 0;
+}
 </style>
diff --git a/app/gui/src/project-view/components/GraphEditor/widgets/WidgetSelfAccessChain.vue b/app/gui/src/project-view/components/GraphEditor/widgets/WidgetSelfAccessChain.vue
index f7ff22b4422a..4fff14690809 100644
--- a/app/gui/src/project-view/components/GraphEditor/widgets/WidgetSelfAccessChain.vue
+++ b/app/gui/src/project-view/components/GraphEditor/widgets/WidgetSelfAccessChain.vue
@@ -1,17 +1,20 @@
 <script setup lang="ts">
 import NodeWidget from '@/components/GraphEditor/NodeWidget.vue'
+import { DisplayIcon } from '@/components/GraphEditor/widgets/WidgetIcon.vue'
 import { injectFunctionInfo } from '@/providers/functionInfo'
 import { Score, WidgetInput, defineWidget, widgetProps } from '@/providers/widgetRegistry'
 import { injectWidgetTree } from '@/providers/widgetTree'
+import { useGraphStore } from '@/stores/graph'
 import { Ast } from '@/util/ast'
-import { displayedIconOf } from '@/util/getIconName'
-import { computed } from 'vue'
-import { DisplayIcon } from './WidgetIcon.vue'
+import { displayedIconOf, useDisplayedIcon } from '@/util/getIconName'
+import { computed, toRef } from 'vue'
 
 const props = defineProps(widgetProps(widgetDefinition))
 const functionInfo = injectFunctionInfo(true)
+const graph = useGraphStore()
+const tree = injectWidgetTree()
 
-const displayedIcon = computed(() => {
+const baseIcon = computed(() => {
   const callInfo = functionInfo?.callInfo
   return displayedIconOf(
     callInfo?.suggestion,
@@ -19,13 +22,13 @@ const displayedIcon = computed(() => {
     functionInfo?.outputType ?? 'Unknown',
   )
 })
+const { displayedIcon } = useDisplayedIcon(graph.db, toRef(tree, 'externalId'), baseIcon)
 
 const iconInput = computed(() => {
   const lhs = props.input.value.lhs
   if (!lhs) return
   const input = WidgetInput.WithPort(WidgetInput.FromAst(lhs))
-  const icon = displayedIcon.value
-  if (icon) input[DisplayIcon] = { icon, showContents: showFullAccessChain.value }
+  input[DisplayIcon] = { icon: displayedIcon.value, showContents: showFullAccessChain.value }
   return input
 })
 
diff --git a/app/gui/src/project-view/util/getIconName.ts b/app/gui/src/project-view/util/getIconName.ts
index f6b769a6cd4b..5c1248b9242f 100644
--- a/app/gui/src/project-view/util/getIconName.ts
+++ b/app/gui/src/project-view/util/getIconName.ts
@@ -1,12 +1,16 @@
-import type { NodeId } from '@/stores/graph'
-import { GraphDb } from '@/stores/graph/graphDatabase'
+import { type NodeId } from '@/stores/graph'
+import { type GraphDb } from '@/stores/graph/graphDatabase'
 import {
   SuggestionKind,
   type SuggestionEntry,
   type Typename,
 } from '@/stores/suggestionDatabase/entry'
-import type { Icon } from '@/util/iconMetadata/iconName'
+import { type URLString } from '@/util/data/urlString'
+import { type Icon } from '@/util/iconMetadata/iconName'
 import { type MethodPointer } from '@/util/methodPointer'
+import { type ToValue } from '@/util/reactivity'
+import { computed, toValue } from 'vue'
+import { type ExternalId } from 'ydoc-shared/yjsModel'
 
 const typeNameToIconLookup: Record<string, Icon> = {
   'Standard.Base.Data.Text.Text': 'text_input',
@@ -68,3 +72,21 @@ export function iconOfNode(node: NodeId, graphDb: GraphDb) {
       return 'data_input'
   }
 }
+
+/**
+ * Returns the icon to show on a component, using either the provided base icon or an icon representing its current
+ * status.
+ */
+export function useDisplayedIcon(
+  graphDb: GraphDb,
+  externalId: ToValue<ExternalId>,
+  baseIcon: ToValue<Icon | URLString>,
+) {
+  const evaluating = computed(() => {
+    const payload = graphDb.getExpressionInfo(toValue(externalId))?.payload
+    return payload?.type === 'Pending' && payload.progress
+  })
+  return {
+    displayedIcon: computed(() => (evaluating.value ? '$evaluating' : toValue(baseIcon))),
+  }
+}