diff --git a/core/dbt/artifacts/resources/v1/saved_query.py b/core/dbt/artifacts/resources/v1/saved_query.py
index cc24d8fddf4..295b3aef45f 100644
--- a/core/dbt/artifacts/resources/v1/saved_query.py
+++ b/core/dbt/artifacts/resources/v1/saved_query.py
@@ -2,6 +2,9 @@
 import time
 
 from dataclasses import dataclass, field
+
+from dbt_semantic_interfaces.implementations.semantic_model import NodeRelation
+
 from dbt.artifacts.resources.base import GraphResource
 from dbt.artifacts.resources.v1.components import DependsOn, RefArgs
 from dbt.artifacts.resources.v1.semantic_layer_components import (
@@ -73,6 +76,7 @@ class SavedQueryConfig(BaseConfig):
 class SavedQueryMandatory(GraphResource):
     query_params: QueryParams
     exports: List[Export]
+    node_relation: Optional[NodeRelation]
 
 
 @dataclass
diff --git a/core/dbt/artifacts/resources/v1/semantic_model.py b/core/dbt/artifacts/resources/v1/semantic_model.py
index b219b2bdcc8..bacd1b41328 100644
--- a/core/dbt/artifacts/resources/v1/semantic_model.py
+++ b/core/dbt/artifacts/resources/v1/semantic_model.py
@@ -1,6 +1,9 @@
 import time
 
 from dataclasses import dataclass, field
+
+from dbt_semantic_interfaces.implementations.semantic_model import NodeRelation
+
 from dbt.artifacts.resources.base import GraphResource
 from dbt.artifacts.resources.v1.components import DependsOn, RefArgs
 from dbt_common.contracts.config.base import BaseConfig, CompareBehavior, MergeBehavior
@@ -37,14 +40,6 @@ class Defaults(dbtClassMixin):
     agg_time_dimension: Optional[str] = None
 
 
-@dataclass
-class NodeRelation(dbtClassMixin):
-    alias: str
-    schema_name: str  # TODO: Could this be called simply "schema" so we could reuse StateRelation?
-    database: Optional[str] = None
-    relation_name: Optional[str] = None
-
-
 # ====================================
 # Dimension objects
 # Dimension protocols: https://github.com/dbt-labs/dbt-semantic-interfaces/blob/main/dbt_semantic_interfaces/protocols/dimension.py
diff --git a/core/dbt/parser/manifest.py b/core/dbt/parser/manifest.py
index 0dd3ec08423..ba6a7406a30 100644
--- a/core/dbt/parser/manifest.py
+++ b/core/dbt/parser/manifest.py
@@ -482,7 +482,6 @@ def load(self) -> Manifest:
             self.process_unit_tests(self.root_project.project_name)
             self.process_docs(self.root_project)
             self.process_metrics(self.root_project)
-            self.process_saved_queries(self.root_project)
             self.check_valid_group_config()
             self.check_valid_access_property()
 
@@ -1104,6 +1103,11 @@ def process_refs(self, current_project: str, dependencies: Optional[Mapping[str,
                 continue
             _process_refs(self.manifest, current_project, semantic_model, dependencies)
             self.update_semantic_model(semantic_model)
+        for saved_query in self.manifest.saved_queries.values():
+            if saved_query.created_at < self.started_at:
+                continue
+            _process_refs(self.manifest, current_project, saved_query, dependencies)
+            self.update_saved_query(saved_query, current_project)
 
     # Takes references in 'metrics' array of nodes and exposures, finds the target
     # node, and updates 'depends_on.nodes' with the unique id
@@ -1123,14 +1127,20 @@ def process_metrics(self, config: RuntimeConfig):
                 continue
             _process_metrics_for_node(self.manifest, current_project, exposure)
 
-    def process_saved_queries(self, config: RuntimeConfig):
+    def update_saved_query(self, saved_query: SavedQuery, current_project: str) -> None:
         """Processes SavedQuery nodes to populate their `depends_on`."""
-        current_project = config.project_name
-        for saved_query in self.manifest.saved_queries.values():
-            # TODO:
-            # 1. process `where` of SavedQuery for `depends_on`s
-            # 2. process `group_by` of SavedQuery for `depends_on``
-            _process_metrics_for_node(self.manifest, current_project, saved_query)
+        # TODO:
+        # 1. process `where` of SavedQuery for `depends_on`s
+        # 2. process `group_by` of SavedQuery for `depends_on``
+        _process_metrics_for_node(self.manifest, current_project, saved_query)
+        if saved_query.depends_on_nodes[0]:
+            refd_node = self.manifest.nodes[saved_query.depends_on_nodes[0]]
+            saved_query.node_relation = NodeRelation(
+                relation_name=refd_node.relation_name,
+                alias=refd_node.alias,
+                schema_name=refd_node.schema,
+                database=refd_node.database,
+            )
 
     def update_semantic_model(self, semantic_model) -> None:
         # This has to be done at the end of parsing because the referenced model