diff --git a/analysis/low-level-api-fir/src/org/jetbrains/kotlin/analysis/low/level/api/fir/caches/NullableCaffeineCache.kt b/analysis/low-level-api-fir/src/org/jetbrains/kotlin/analysis/low/level/api/fir/caches/NullableCaffeineCache.kt
new file mode 100644
index 00000000000..d4279ea21d2
--- /dev/null
+++ b/analysis/low-level-api-fir/src/org/jetbrains/kotlin/analysis/low/level/api/fir/caches/NullableCaffeineCache.kt
@@ -0,0 +1,24 @@
+/*
+ * Copyright 2010-2023 JetBrains s.r.o. and Kotlin Programming Language contributors.
+ * Use of this source code is governed by the Apache 2.0 license that can be found in the license/LICENSE.txt file.
+ */
+
+package org.jetbrains.kotlin.analysis.low.level.api.fir.caches
+
+import com.github.benmanes.caffeine.cache.Cache
+import com.github.benmanes.caffeine.cache.Caffeine
+import org.jetbrains.kotlin.analysis.low.level.api.fir.fir.caches.NullValue
+import org.jetbrains.kotlin.analysis.low.level.api.fir.fir.caches.nullValueToNull
+
+/**
+ * A wrapper around a Caffeine [Cache] which stores `null` values returned by the computation in the form of explicit [NullValue]s. On a
+ * conceptual level, this allows the cache to store failures so that future accesses to the same key don't recompute the same failure.
+ */
+internal class NullableCaffeineCache<K : Any, V : Any>(configure: (Caffeine<Any, Any>) -> Caffeine<Any, Any>) {
+    private val cache: Cache<K, Any> = configure(Caffeine.newBuilder()).build()
+
+    /**
+     * Returns the value for the given [key] if it's contained in the cache, or computes the value with [compute] and adds it to the cache.
+     */
+    fun get(key: K, compute: (K) -> V?): V? = cache.get(key) { compute(it) ?: NullValue }?.nullValueToNull()
+}