diff --git a/packages/next-swc/crates/napi/src/util.rs b/packages/next-swc/crates/napi/src/util.rs
index df8ed75e7557b..dbb5509951c23 100644
--- a/packages/next-swc/crates/napi/src/util.rs
+++ b/packages/next-swc/crates/napi/src/util.rs
@@ -26,7 +26,7 @@ IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER
 DEALINGS IN THE SOFTWARE.
 */
 
-use anyhow::{Context, Error};
+use anyhow::{anyhow, Context, Error};
 use napi::{CallContext, Env, JsBuffer, JsExternal, JsString, JsUndefined, JsUnknown, Status};
 use serde::de::DeserializeOwned;
 use std::{any::type_name, convert::TryFrom, path::PathBuf};
@@ -108,6 +108,12 @@ pub fn init_custom_trace_subscriber(cx: CallContext) -> napi::Result<JsExternal>
 
     let mut layer = ChromeLayerBuilder::new().include_args(true);
     if let Some(trace_out_file) = trace_out_file_path {
+        let dir = trace_out_file
+            .parent()
+            .ok_or_else(|| anyhow!("Not able to find path to the trace output"))
+            .convert_err()?;
+        std::fs::create_dir_all(dir)?;
+
         layer = layer.file(trace_out_file);
     }
 
diff --git a/packages/next/build/webpack-config.ts b/packages/next/build/webpack-config.ts
index b9b965979dcaf..198ce287b3717 100644
--- a/packages/next/build/webpack-config.ts
+++ b/packages/next/build/webpack-config.ts
@@ -454,10 +454,10 @@ export default async function getBaseWebpackConfig(
     loggedIgnoredCompilerOptions = true
   }
 
-  const getBabelOrSwcLoader = (isMiddleware: boolean) => {
+  const getBabelOrSwcLoader = (isMiddleware: boolean, buildDir: string) => {
     if (
       useSWCLoader &&
-      config?.experimental?.swcTrace?.enabled &&
+      config?.experimental?.swcTraceProfiling?.enabled &&
       !swcTraceFlushGuard
     ) {
       // This will init subscribers once only in a single process lifecycle,
@@ -465,7 +465,12 @@ export default async function getBaseWebpackConfig(
       // Subscriber need to be initialized _before_ any actual swc's call (transform, etcs)
       // to collect correct trace spans when they are called.
       swcTraceFlushGuard = require('./swc')?.initCustomTraceSubscriber?.(
-        config?.experimental?.swcTrace?.traceFileName
+        config?.experimental?.swcTraceProfiling?.traceFileName ??
+          path.join(
+            buildDir,
+            config.distDir,
+            `swc-trace-profile-${Date.now()}.json`
+          )
       )
     }
 
@@ -497,7 +502,7 @@ export default async function getBaseWebpackConfig(
   }
 
   const defaultLoaders = {
-    babel: getBabelOrSwcLoader(false),
+    babel: getBabelOrSwcLoader(false, dir),
   }
 
   const rawPageExtensions = hasServerComponents
@@ -1279,7 +1284,7 @@ export default async function getBaseWebpackConfig(
             {
               ...codeCondition,
               issuerLayer: 'middleware',
-              use: getBabelOrSwcLoader(true),
+              use: getBabelOrSwcLoader(true, dir),
             },
             {
               ...codeCondition,
diff --git a/packages/next/server/config-shared.ts b/packages/next/server/config-shared.ts
index 48936d0246c5d..7d40005838126 100644
--- a/packages/next/server/config-shared.ts
+++ b/packages/next/server/config-shared.ts
@@ -128,7 +128,7 @@ export interface ExperimentalConfig {
       skipDefaultConversion?: boolean
     }
   >
-  swcTrace?: {
+  swcTraceProfiling?: {
     enabled: boolean
     traceFileName?: string
   }