diff --git a/pycodestyle.py b/pycodestyle.py
index 3324850a..5f79a257 100755
--- a/pycodestyle.py
+++ b/pycodestyle.py
@@ -1045,17 +1045,16 @@ def whitespace_around_named_parameter_equals(logical_line, tokens):
         if token_type == tokenize.OP:
             if text in '([':
                 paren_stack.append(text)
+                # PEP 696 defaults always use spaced-style `=`
+                # type A[T = default] = ...
+                # def f[T = default](): ...
+                # class C[T = default](): ...
+                if in_generic and paren_stack == ['[']:
+                    annotated_func_arg = True
             elif text in ')]' and paren_stack:
                 paren_stack.pop()
-            elif (
-                    text == ':' and (
-                        # def f(arg: tp = default): ...
-                        (in_def and paren_stack == ['(']) or
-                        # def f[T: tp = default](): ...
-                        # class C[T: tp = default](): ...
-                        (in_generic and paren_stack == ['['])
-                    )
-            ):
+            # def f(arg: tp = default): ...
+            elif text == ':' and in_def and paren_stack == ['(']:
                 annotated_func_arg = True
             elif len(paren_stack) == 1 and text == ',':
                 annotated_func_arg = False
diff --git a/testing/data/python313.py b/testing/data/python313.py
index 5247ae9c..5540aced 100644
--- a/testing/data/python313.py
+++ b/testing/data/python313.py
@@ -1,9 +1,18 @@
 type Alias[T: (int, str) = str] = list[T]
+type Alias2[T = str] = list[T]
 
 
 class C[T: (int, str) = str]:
     pass
 
 
+class C2[T = str]:
+    pass
+
+
 def f[T: (int, str) = str](t: T) -> T:
     pass
+
+
+def f2[T = str](t: T) -> T:
+    pass