diff --git a/tools-builder/toolchains/Cargo.lock b/tools-builder/toolchains/Cargo.lock
index f5cc50b4..d8ef0ac4 100644
--- a/tools-builder/toolchains/Cargo.lock
+++ b/tools-builder/toolchains/Cargo.lock
@@ -229,12 +229,6 @@ dependencies = [
  "syn",
 ]
 
-[[package]]
-name = "leb128"
-version = "0.2.5"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "884e2677b40cc8c339eaefcb701c32ef1fd2493d71118dc0ca4b6a736c93bd67"
-
 [[package]]
 name = "leb128fmt"
 version = "0.1.0"
@@ -421,16 +415,6 @@ version = "0.2.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "06abde3611657adf66d383f00b093d7faecc7fa57071cce2578660c9f1010821"
 
-[[package]]
-name = "wasm-encoder"
-version = "0.221.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dc8444fe4920de80a4fe5ab564fff2ae58b6b73166b89751f8c6c93509da32e5"
-dependencies = [
- "leb128",
- "wasmparser 0.221.3",
-]
-
 [[package]]
 name = "wasm-encoder"
 version = "0.236.1"
@@ -443,24 +427,24 @@ dependencies = [
 
 [[package]]
 name = "wasm-encoder"
-version = "0.237.0"
+version = "0.238.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "efe92d1321afa53ffc88a57c497bb7330c3cf84c98ffdba4a4caf6a0684fad3c"
+checksum = "d50d48c31c615f77679b61c607b8151378a5d03159616bf3d17e8e2005afdaf5"
 dependencies = [
  "leb128fmt",
- "wasmparser 0.237.0",
+ "wasmparser 0.238.1",
 ]
 
 [[package]]
 name = "wasm-metadata"
-version = "0.237.0"
+version = "0.238.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4cc0b0a0c4f35ca6efa7a797671372915d4e9659dba2d59edc6fafc931d19997"
+checksum = "00094573b000c92134f2ef0f8afa4f6f892de37e78442988c946243a8c44364e"
 dependencies = [
  "anyhow",
  "indexmap",
- "wasm-encoder 0.237.0",
- "wasmparser 0.237.0",
+ "wasm-encoder 0.238.1",
+ "wasmparser 0.238.1",
 ]
 
 [[package]]
@@ -489,9 +473,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.237.0"
+version = "0.238.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7d2a40ca0d2bdf4b0bf36c13a737d0b2c58e4c8aaefe1c57f336dd75369ca250"
+checksum = "3fa99c8328024423875ae4a55345cfde8f0371327fb2d0f33b0f52a06fc44408"
 dependencies = [
  "bitflags",
  "hashbrown",
@@ -603,9 +587,9 @@ checksum = "271414315aff87387382ec3d271b52d7ae78726f5d44ac98b4f4030c91880486"
 
 [[package]]
 name = "wit-component"
-version = "0.237.0"
+version = "0.238.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bfb7674f76c10e82fe00b256a9d4ffb2b8d037d42ab8e9a83ebb3be35c9d0bf6"
+checksum = "7d31c985f541330d1a809547043ad19dd58739a2f83c7f116aeabcab86aed597"
 dependencies = [
  "anyhow",
  "bitflags",
@@ -614,10 +598,10 @@ dependencies = [
  "serde",
  "serde_derive",
  "serde_json",
- "wasm-encoder 0.237.0",
+ "wasm-encoder 0.238.1",
  "wasm-metadata",
- "wasmparser 0.237.0",
- "wit-parser 0.237.0",
+ "wasmparser 0.238.1",
+ "wit-parser 0.238.1",
 ]
 
 [[package]]
@@ -640,9 +624,9 @@ dependencies = [
 
 [[package]]
 name = "wit-parser"
-version = "0.237.0"
+version = "0.238.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ce2596a5bc7c24cc965b56ad6ff9e32394c4e401764f89620a888519c6e849ab"
+checksum = "1eea12c964ed423ed14745e51aac2f1e28e5572ca012b0503bdcf65ffee3b44c"
 dependencies = [
  "anyhow",
  "id-arena",
@@ -653,5 +637,5 @@ dependencies = [
  "serde_derive",
  "serde_json",
  "unicode-xid",
- "wasmparser 0.237.0",
+ "wasmparser 0.238.1",
 ]
diff --git a/tools-builder/toolchains/Cargo.toml b/tools-builder/toolchains/Cargo.toml
index 422142a4..bc717caa 100644
--- a/tools-builder/toolchains/Cargo.toml
+++ b/tools-builder/toolchains/Cargo.toml
@@ -22,4 +22,4 @@ wat = "1.221"
 
 # Component model support
 wit-parser = "0.221"
-wit-component = "0.237"
+wit-component = "0.238"