diff --git a/tests/pytorch/test_delayed_scaling_dgrad_ordering.py b/tests/pytorch/test_delayed_scaling_dgrad_ordering.py
new file mode 100644
index 0000000000..05b64e09fd
--- /dev/null
+++ b/tests/pytorch/test_delayed_scaling_dgrad_ordering.py
@@ -0,0 +1,120 @@
+# Copyright (c) 2022-2026, NVIDIA CORPORATION & AFFILIATES. All rights reserved.
+#
+# See LICENSE for license information.
+
+"""Regression coverage for delayed-scaling cast/transpose ordering on SM120."""
+
+import math
+
+import pytest
+import torch
+import torch.nn.functional as F
+
+import transformer_engine.pytorch as te
+from transformer_engine.common.recipe import DelayedScaling, Format
+
+
+class _StressBlock(torch.nn.Module):
+    def __init__(self, width: int, kv_width: int, mlp_width: int) -> None:
+        super().__init__()
+
+        def linear(inp: int, out: int) -> te.Linear:
+            return te.Linear(
+                inp,
+                out,
+                bias=False,
+                params_dtype=torch.bfloat16,
+            )
+
+        self.norm = torch.nn.RMSNorm(width, dtype=torch.bfloat16, device="cuda")
+        self.q_proj = linear(width, width)
+        self.k_proj = linear(width, kv_width)
+        self.v_proj = linear(width, kv_width)
+        self.o_proj = linear(width, width)
+        self.gate_proj = linear(width, mlp_width)
+        self.up_proj = linear(width, mlp_width)
+        self.down_proj = linear(mlp_width, width)
+
+    def forward(self, value: torch.Tensor) -> torch.Tensor:
+        hidden = self.norm(value)
+        q_value = self.q_proj(hidden)
+        kv_value = torch.cat((self.k_proj(hidden), self.v_proj(hidden)), dim=-1)
+        attention = self.o_proj(torch.tanh(q_value + 0.125 * kv_value))
+        gate = F.silu(self.gate_proj(hidden))
+        mlp = self.down_proj(gate * self.up_proj(hidden))
+        return value + 0.03125 * (attention + mlp)
+
+
+class _StressNetwork(torch.nn.Module):
+    def __init__(self) -> None:
+        super().__init__()
+        self.layers = torch.nn.ModuleList([_StressBlock(2048, 1024, 4096) for _ in range(14)])
+
+    def forward(self, value: torch.Tensor) -> torch.Tensor:
+        for layer in self.layers:
+            value = te.checkpoint(layer, value, use_reentrant=True)
+        return value
+
+
+def _grad_metrics(model: torch.nn.Module) -> tuple[float, float, bool]:
+    squared_norm = torch.zeros((), dtype=torch.float32, device="cuda")
+    max_abs = torch.zeros((), dtype=torch.float32, device="cuda")
+    finite = True
+    for parameter in model.parameters():
+        if parameter.grad is None:
+            continue
+        grad = parameter.grad.detach()
+        squared_norm += grad.float().square().sum()
+        max_abs = torch.maximum(max_abs, grad.abs().max().float())
+        finite = finite and bool(torch.isfinite(grad).all())
+    return float(squared_norm.sqrt()), float(max_abs), finite
+
+
+@pytest.mark.skipif(
+    not torch.cuda.is_available() or torch.cuda.get_device_capability()[0] < 12,
+    reason="The regression requires an SM120 GPU",
+)
+@pytest.mark.parametrize("seed", [20260715, 20260716, 20260717])
+def test_delayed_scaling_checkpointed_dgrad_ordering(seed: int) -> None:
+    """Delayed-scaling dgrad must remain in the BF16-scale numerical range."""
+
+    torch.manual_seed(seed)
+    torch.cuda.manual_seed_all(seed)
+    model = _StressNetwork().cuda()
+    recipe = DelayedScaling(fp8_format=Format.HYBRID, amax_history_len=1024)
+    generator = torch.Generator(device="cuda")
+
+    final_norm = 0.0
+    for step in range(3):
+        model.zero_grad(set_to_none=True)
+        for microbatch in range(64):
+            generator.manual_seed(seed + step * 100_003 + microbatch * 997)
+            value = torch.randn(
+                1,
+                2048,
+                2048,
+                dtype=torch.bfloat16,
+                device="cuda",
+                generator=generator,
+                requires_grad=True,
+            )
+            with torch.autocast("cuda", dtype=torch.bfloat16), te.autocast(
+                enabled=True,
+                recipe=recipe,
+            ):
+                loss = model(value).float().square().mean() / 64
+            loss.backward()
+
+            final_norm, parameter_max, finite = _grad_metrics(model)
+            input_max = float(value.grad.detach().abs().max())
+            assert math.isfinite(float(loss.detach()))
+            assert finite
+            assert math.isfinite(input_max)
+            assert final_norm < 0.1, (
+                f"gradient corruption at step={step}, microbatch={microbatch}: "
+                f"grad_norm={final_norm}, parameter_max={parameter_max}, "
+                f"input_max={input_max}"
+            )
+            assert input_max < 1e-4
+
+    assert 0.001 < final_norm < 0.05
diff --git a/transformer_engine/common/transpose/rtc/cast_transpose.cu b/transformer_engine/common/transpose/rtc/cast_transpose.cu
index e40c463a6b..256af4221a 100644
--- a/transformer_engine/common/transpose/rtc/cast_transpose.cu
+++ b/transformer_engine/common/transpose/rtc/cast_transpose.cu
@@ -116,6 +116,8 @@ __global__ void __launch_bounds__(block_size) cast_transpose_optimized_kernel(
 
   // Reduce amax over block
   if (amax_ptr != nullptr) {
+    // Order the global output stores before publishing the amax update.
+    __threadfence();
     amax = reduce_max<warps_per_tile>(amax, tidy);
     if (threadIdx.x == 0) {
       atomicMaxFloat(amax_ptr, amax);