diff --git a/src/vs/base/common/fuzzyScorer.ts b/src/vs/base/common/fuzzyScorer.ts
index f01f75b13a022..f6ec001820a40 100644
--- a/src/vs/base/common/fuzzyScorer.ts
+++ b/src/vs/base/common/fuzzyScorer.ts
@@ -208,8 +208,11 @@ function computeCharScore(queryCharAtIndex: string, queryLowerCharAtIndex: strin
 			// }
 		}
 
-		// Inside word upper case bonus (camel case)
-		else if (isUpper(target.charCodeAt(targetIndex))) {
+		// Inside word upper case bonus (camel case). We only give this bonus if we're not in a contiguous sequence.
+		// For example:
+		// NPE => NullPointerException = boost
+		// HTTP => HTTP = not boost
+		else if (isUpper(target.charCodeAt(targetIndex)) && matchesSequenceLength === 0) {
 			score += 2;
 
 			// if (DEBUG) {
diff --git a/src/vs/base/test/common/fuzzyScorer.test.ts b/src/vs/base/test/common/fuzzyScorer.test.ts
index 59966767cb579..4982bfb8b83af 100644
--- a/src/vs/base/test/common/fuzzyScorer.test.ts
+++ b/src/vs/base/test/common/fuzzyScorer.test.ts
@@ -403,6 +403,13 @@ suite('Fuzzy Scorer', () => {
 		}
 	});
 
+	test('scoreItem - ensure upper case bonus only applies on non-consecutive matches (bug #134723)', function () {
+		const resourceWithUpper = URI.file('ASDFasdfasdf');
+		const resourceAllLower = URI.file('asdfasdfasdf');
+
+		assert.ok(scoreItem(resourceAllLower, 'asdf', true, ResourceAccessor).score > scoreItem(resourceWithUpper, 'asdf', true, ResourceAccessor).score);
+	});
+
 	test('compareItemsByScore - identity', function () {
 		const resourceA = URI.file('/some/path/fileA.txt');
 		const resourceB = URI.file('/some/path/other/fileB.txt');