Heat 1/4 cup oil in a large Dutch oven or other heavy pot over
medium. Arrange prosciutto in a single layer in pot and cook,
turning once or twice, until crisp, about 5 minutes. Transfer to
paper towels to drain.
Heat remaining 2 Tbsp. oil in same pot over high. Cook mushrooms,
tossing occasionally, until browned and tender, 5 to 8 minutes.
Reduce heat to medium low. Add shallots and 1 tsp. thyme, season
with salt and pepper, and cook, stirring often, until shallots are
translucent and softened, about 2 minutes. Add stock and reduce
heat to low. Bring to a simmer and cook until only a thin layer of
stock coats bottom of pot, 5 to 7 minutes.
Meanwhile, cook pasta in a large pot of boiling salted water,
stirring occasionally, until very al dente, about 3 minutes less
than package directions.
Using tongs, transfer pasta to pot with mushrooms and add 1 cup
pasta cooking liquid. Crumble half of prosciutto into pot. Increase
heat to medium, bring to a simmer, and cook, tossing constantly,
until pasta is al dente and liquid is slightly thickened, about 2
minutes. Add cream, return to a simmer, and cook, tossing, until
pasta is coated, about 1 minute. Remove from heat, add butter, and
toss to combine. Taste and season with salt if needed.
Divide pasta among bowls. Top with more thyme and crumble remaining
prosciutto over; season with pepper.
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