diff --git a/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/DeferredImage.tsx b/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/DeferredImage.tsx
index 6decc5468a9..d6dd79ac1c7 100644
--- a/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/DeferredImage.tsx
+++ b/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/DeferredImage.tsx
@@ -10,8 +10,7 @@ import { URI } from 'vs/base/common/uri';
 import { Schemas } from 'vs/base/common/network';
 import { dirname } from 'vs/base/common/resources';
 import { localize } from 'vs/nls';
-import { promiseWithTimeout } from '../../common/utils/promiseWithTimeout';
-import { CancellationTokenSource } from 'vs/base/common/cancellation';
+import { createCancelablePromise, raceTimeout } from 'vs/base/common/async';
 
 /**
  * This should match the error message defined in the command definition
@@ -65,15 +64,15 @@ export function DeferredImage({ src = 'no-source', ...props }: React.ComponentPr
 
 		const conversionTimeoutMs = 3000;
 		const errorTimeoutMs = 1000;
-		const tokenSource = new CancellationTokenSource();
 
 		let delayedErrorMsg: NodeJS.Timeout;
 
-		promiseWithTimeout(
+		const conversionCancellablePromise = createCancelablePromise(() => raceTimeout(
 			services.commandService.executeCommand('positronNotebookHelpers.convertImageToBase64', src, baseLocation),
-			conversionTimeoutMs,
-			tokenSource.token
-		).then((payload) => {
+			conversionTimeoutMs
+		));
+
+		conversionCancellablePromise.then((payload) => {
 			if (typeof payload === 'string') {
 				setResults({ status: 'success', data: payload });
 			} else if (isConversionErrorMsg(payload)) {
@@ -96,7 +95,7 @@ export function DeferredImage({ src = 'no-source', ...props }: React.ComponentPr
 
 		return () => {
 			clearTimeout(delayedErrorMsg);
-			tokenSource.cancel();
+			conversionCancellablePromise.cancel();
 		};
 	}, [src, baseLocation, services]);
 
diff --git a/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/Markdown.tsx b/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/Markdown.tsx
index 5ec77573617..5300cc8e7e2 100644
--- a/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/Markdown.tsx
+++ b/src/vs/workbench/contrib/positronNotebook/browser/notebookCells/Markdown.tsx
@@ -9,8 +9,7 @@ import { DeferredImage } from './DeferredImage';
 import { useServices } from 'vs/workbench/contrib/positronNotebook/browser/ServicesProvider';
 import { ExternalLink } from 'vs/base/browser/ui/ExternalLink/ExternalLink';
 import { localize } from 'vs/nls';
-import { promiseWithTimeout } from 'vs/workbench/contrib/positronNotebook/common/utils/promiseWithTimeout';
-import { CancellationTokenSource } from 'vs/base/common/cancellation';
+import { createCancelablePromise, raceTimeout } from 'vs/base/common/async';
 
 /**
  * Component that render markdown content from a string.
@@ -50,13 +49,12 @@ function useMarkdown(content: string): MarkdownRenderResults {
 
 	React.useEffect(() => {
 
-		const tokenSource = new CancellationTokenSource();
-
-		promiseWithTimeout(
+		const conversionCancellablePromise = createCancelablePromise(() => raceTimeout(
 			services.commandService.executeCommand('markdown.api.render', content),
 			5000,
-			tokenSource.token
-		).then((html) => {
+		));
+
+		conversionCancellablePromise.then((html) => {
 			if (typeof html !== 'string') {
 				setRenderedHtml({
 					status: 'error',
@@ -80,7 +78,7 @@ function useMarkdown(content: string): MarkdownRenderResults {
 			});
 		});
 
-		return () => tokenSource.cancel();
+		return () => conversionCancellablePromise.cancel();
 	}, [content, services]);
 
 	return renderedHtml;
diff --git a/src/vs/workbench/contrib/positronNotebook/common/utils/promiseWithTimeout.ts b/src/vs/workbench/contrib/positronNotebook/common/utils/promiseWithTimeout.ts
deleted file mode 100644
index c8220a5a26a..00000000000
--- a/src/vs/workbench/contrib/positronNotebook/common/utils/promiseWithTimeout.ts
+++ /dev/null
@@ -1,32 +0,0 @@
-/*---------------------------------------------------------------------------------------------
- *  Copyright (C) 2024 Posit Software, PBC. All rights reserved.
- *--------------------------------------------------------------------------------------------*/
-
-import { CancellationToken } from 'vs/base/common/cancellation';
-
-/**
- * Function to wrap a promise in a timeout. Also allows for the unsubscribing to the promise output.
- * @param promise Promise to wrap.
- * @param timeoutMs Timeout in milliseconds.
- * @param cancelToken Token to cancel the promise as returned by `CancellationTokenSource.token`.
- */
-export function promiseWithTimeout<T>(promise: Promise<T>, timeoutMs: number, cancelToken: CancellationToken): Promise<T> {
-
-	return new Promise((resolve, reject) => {
-		cancelToken.onCancellationRequested(() => {
-			reject(new Error('Promise cancelled'));
-		});
-
-		const timeout = setTimeout(() => {
-			reject(new Error(`Promise timed out after ${timeoutMs}ms`));
-		}, timeoutMs);
-
-		promise.then((res) => {
-			clearTimeout(timeout);
-			resolve(res);
-		}).catch((err) => {
-			clearTimeout(timeout);
-			reject(err);
-		});
-	});
-}