diff --git a/.cargo/config.toml b/.cargo/config.toml
index a38223d24f380..18dc923049119 100644
--- a/.cargo/config.toml
+++ b/.cargo/config.toml
@@ -2,15 +2,25 @@
 CARGO_WORKSPACE_DIR = { value = "", relative = true }
 
 [build]
-
+rustflags = [
+  "--cfg",
+  "tokio_unstable",
+  "-Zshare-generics=y", # make the current crate share its generic instantiations
+  "-Zthreads=8", # parallel frontend https://blog.rust-lang.org/2023/11/09/parallel-rustc.html
+  "-Csymbol-mangling-version=v0",
+]
 rustdocflags = []
 
 [target.x86_64-pc-windows-msvc]
 linker = "rust-lld"
 rustflags = ["-C", "target-feature=+crt-static"]
+
 [target.i686-pc-windows-msvc]
 rustflags = ["-C", "target-feature=+crt-static"]
 
+[target.aarch64-apple-darwin]
+linker = "rust-lld"
+
 [target.aarch64-unknown-linux-gnu]
 linker = "aarch64-linux-gnu-gcc"
 
@@ -27,11 +37,3 @@ rustflags = [
 
 [target.armv7-unknown-linux-gnueabihf]
 linker = "arm-linux-gnueabihf-gcc"
-
-[target.'cfg(all())']
-rustflags = [
-  "--cfg",
-  "tokio_unstable",
-  "-Zshare-generics=y",
-  "-Csymbol-mangling-version=v0",
-]
diff --git a/.github/actions/setup-rust/action.yml b/.github/actions/setup-rust/action.yml
index bb6044cbf08f1..b64b23b584ced 100644
--- a/.github/actions/setup-rust/action.yml
+++ b/.github/actions/setup-rust/action.yml
@@ -4,61 +4,17 @@ inputs:
   targets:
     description: 'Comma-separated list of target triples to install for this toolchain'
     required: false
-  components:
-    description: 'Comma-separated list of components to be additionally installed'
-    required: false
-  skip-install:
-    description: 'Sets environment variables without installing the rust toolchain'
-    required: false
 
 runs:
   using: 'composite'
   steps:
-    - name: 'Get toolchain version from file'
-      id: file
-      shell: bash
-      run: echo "toolchain=$(cat ./rust-toolchain)" >> $GITHUB_OUTPUT
-
-    - shell: bash
-      run: |
-        : force toolchain version
-        echo "RUST_TOOLCHAIN=${{ steps.file.outputs.toolchain }}" >> $GITHUB_ENV
-
-    - shell: bash
-      run: |
-        : disable incremental compilation
-        if [ -z "${CARGO_INCREMENTAL+set}" ]; then
-          echo CARGO_INCREMENTAL=0 >> $GITHUB_ENV
-        fi
-
-    - shell: bash
-      run: |
-        : enable colors in Cargo output
-        if [ -z "${CARGO_TERM_COLOR+set}" ]; then
-          echo CARGO_TERM_COLOR=always >> $GITHUB_ENV
-        fi
-
-    - shell: bash
-      run: |
-        : enable rust backtrace
-        if [ -z "${RUST_BACKTRACE+set}" ]; then
-          echo RUST_BACKTRACE=short >> $GITHUB_ENV
-        fi
-
-    - shell: bash
-      run: |
-        : enable faster cargo sparse registry
-        if [ -z "${CARGO_REGISTRIES_CRATES_IO_PROTOCOL+set}" ]; then
-          echo CARGO_REGISTRIES_CRATES_IO_PROTOCOL=sparse >> $GITHUB_ENV
-        fi
-
     - name: 'Setup Rust toolchain'
-      uses: dtolnay/rust-toolchain@master
-      if: ${{ !inputs.skip-install }}
+      uses: actions-rust-lang/setup-rust-toolchain@v1
       with:
-        toolchain: ${{ steps.file.outputs.toolchain }}
-        targets: ${{ inputs.targets }}
-        components: ${{ inputs.components }}
+        target: ${{ inputs.targets }}
+        # needed to not make it override the defaults
+        rustflags: ''
+        cache: false
 
     - name: 'Add cargo problem matchers'
       shell: bash
diff --git a/.github/workflows/build_and_deploy.yml b/.github/workflows/build_and_deploy.yml
index a3f254a6f04c9..8a8ccda2dd909 100644
--- a/.github/workflows/build_and_deploy.yml
+++ b/.github/workflows/build_and_deploy.yml
@@ -156,8 +156,7 @@ jobs:
               set -e &&
               apt update &&
               apt install -y pkg-config xz-utils dav1d libdav1d-dev &&
-              rustup toolchain install "${RUST_TOOLCHAIN}" &&
-              rustup default "${RUST_TOOLCHAIN}" &&
+              rustup show &&
               rustup target add x86_64-unknown-linux-gnu &&
               npm i -g "@napi-rs/cli@${NAPI_CLI_VERSION}" &&
               unset CC_x86_64_unknown_linux_gnu && unset CC &&
@@ -177,8 +176,7 @@ jobs:
               set -e &&
               apk update &&
               apk add --no-cache libc6-compat pkgconfig dav1d libdav1d dav1d-dev &&
-              rustup toolchain install "${RUST_TOOLCHAIN}" &&
-              rustup default "${RUST_TOOLCHAIN}" &&
+              rustup show &&
               rustup target add x86_64-unknown-linux-musl &&
               npm i -g "@napi-rs/cli@${NAPI_CLI_VERSION}" &&
               cd packages/next-swc && npm run build-native-release -- --target x86_64-unknown-linux-musl &&
@@ -197,8 +195,7 @@ jobs:
               apt update &&
               apt install -y pkg-config xz-utils dav1d libdav1d-dev &&
               export JEMALLOC_SYS_WITH_LG_PAGE=16 &&
-              rustup toolchain install "${RUST_TOOLCHAIN}" &&
-              rustup default "${RUST_TOOLCHAIN}" &&
+              rustup show &&
               rustup target add aarch64-unknown-linux-gnu &&
               npm i -g "@napi-rs/cli@${NAPI_CLI_VERSION}" &&
               export CC_aarch64_unknown_linux_gnu=/usr/aarch64-unknown-linux-gnu/bin/aarch64-unknown-linux-gnu-gcc &&
@@ -220,8 +217,7 @@ jobs:
               apk add --no-cache libc6-compat pkgconfig dav1d libdav1d dav1d-dev &&
               export JEMALLOC_SYS_WITH_LG_PAGE=16 &&
               npm i -g "@napi-rs/cli@${NAPI_CLI_VERSION}" &&
-              rustup toolchain install "${RUST_TOOLCHAIN}" &&
-              rustup default "${RUST_TOOLCHAIN}" &&
+              rustup show &&
               rustup target add aarch64-unknown-linux-musl &&
               cd packages/next-swc && npm run build-native-release -- --target aarch64-unknown-linux-musl &&
               llvm-strip -x native/next-swc.*.node
@@ -255,11 +251,11 @@ jobs:
           check-latest: true
       - run: corepack enable
 
+      # we always want to run this to set environment variables
       - name: Install Rust
         uses: ./.github/actions/setup-rust
         with:
           targets: ${{ matrix.settings.target }}
-          skip-install: ${{ matrix.settings.docker }}
 
       - name: normalize versions
         run: node scripts/normalize-version-bump.js
@@ -292,7 +288,7 @@ jobs:
 
       - name: Build in docker
         if: ${{ matrix.settings.docker && steps.build-exists.outputs.BUILD_EXISTS == 'no' }}
-        run: docker run -v "/var/run/docker.sock":"/var/run/docker.sock"  -e RUST_TOOLCHAIN -e RUST_BACKTRACE -e NAPI_CLI_VERSION -e CARGO_TERM_COLOR -e CARGO_INCREMENTAL -e CARGO_PROFILE_RELEASE_LTO -e CARGO_REGISTRIES_CRATES_IO_PROTOCOL -e TURBO_API -e TURBO_TEAM -e TURBO_TOKEN -e TURBO_VERSION -e TURBO_REMOTE_ONLY -v ${{ env.HOME }}/.cargo/git:/root/.cargo/git -v ${{ env.HOME }}/.cargo/registry:/root/.cargo/registry -v ${{ github.workspace }}:/build -w /build --entrypoint=bash ${{ matrix.settings.docker }} -c "${{ matrix.settings.build }}"
+        run: docker run -v "/var/run/docker.sock":"/var/run/docker.sock" -e RUST_BACKTRACE -e NAPI_CLI_VERSION -e CARGO_TERM_COLOR -e CARGO_INCREMENTAL -e CARGO_PROFILE_RELEASE_LTO -e CARGO_REGISTRIES_CRATES_IO_PROTOCOL -e TURBO_API -e TURBO_TEAM -e TURBO_TOKEN -e TURBO_VERSION -e TURBO_REMOTE_ONLY -v ${{ env.HOME }}/.cargo/git:/root/.cargo/git -v ${{ env.HOME }}/.cargo/registry:/root/.cargo/registry -v ${{ github.workspace }}:/build -w /build --entrypoint=bash ${{ matrix.settings.docker }} -c "${{ matrix.settings.build }}"
 
       - name: cache build
         if: ${{ matrix.settings.docker && steps.build-exists.outputs.BUILD_EXISTS == 'no' }}
diff --git a/.github/workflows/build_reusable.yml b/.github/workflows/build_reusable.yml
index 0d48f5403af8a..83bef38898f47 100644
--- a/.github/workflows/build_reusable.yml
+++ b/.github/workflows/build_reusable.yml
@@ -105,8 +105,6 @@ jobs:
       - name: Install Rust
         uses: ./.github/actions/setup-rust
         if: ${{ inputs.skipNativeBuild != 'yes' || inputs.needsNextest == 'yes' || inputs.needsRust == 'yes' }}
-        with:
-          components: rustfmt, clippy
 
       - name: 'Install mold linker'
         if: ${{ inputs.mold == 'yes' }}
diff --git a/Cargo.lock b/Cargo.lock
index a3e75faf09243..f1e0ab00bc2e0 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -384,51 +384,6 @@ dependencies = [
  "arrayvec",
 ]
 
-[[package]]
-name = "axum"
-version = "0.6.12"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "349f8ccfd9221ee7d1f3d4b33e1f8319b3a81ed8f61f2ea40b37b859794b4491"
-dependencies = [
- "async-trait",
- "axum-core",
- "bitflags 1.3.2",
- "bytes",
- "futures-util",
- "http",
- "http-body",
- "hyper",
- "itoa",
- "matchit",
- "memchr",
- "mime",
- "percent-encoding",
- "pin-project-lite",
- "rustversion",
- "serde",
- "sync_wrapper",
- "tower",
- "tower-layer",
- "tower-service",
-]
-
-[[package]]
-name = "axum-core"
-version = "0.3.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b2f958c80c248b34b9a877a643811be8dbca03ca5ba827f2b63baf3a81e5fc4e"
-dependencies = [
- "async-trait",
- "bytes",
- "futures-util",
- "http",
- "http-body",
- "mime",
- "rustversion",
- "tower-layer",
- "tower-service",
-]
-
 [[package]]
 name = "backtrace"
 version = "0.3.68"
@@ -838,42 +793,6 @@ dependencies = [
  "windows-sys 0.45.0",
 ]
 
-[[package]]
-name = "console-api"
-version = "0.4.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e57ff02e8ad8e06ab9731d5dc72dc23bef9200778eae1a89d555d8c42e5d4a86"
-dependencies = [
- "prost",
- "prost-types",
- "tonic",
- "tracing-core",
-]
-
-[[package]]
-name = "console-subscriber"
-version = "0.1.8"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "22a3a81dfaf6b66bce5d159eddae701e3a002f194d378cbf7be5f053c281d9be"
-dependencies = [
- "console-api",
- "crossbeam-channel",
- "crossbeam-utils",
- "futures",
- "hdrhistogram",
- "humantime",
- "prost-types",
- "serde",
- "serde_json",
- "thread_local",
- "tokio",
- "tokio-stream",
- "tonic",
- "tracing",
- "tracing-core",
- "tracing-subscriber",
-]
-
 [[package]]
 name = "console_error_panic_hook"
 version = "0.1.7"
@@ -2003,19 +1922,6 @@ version = "0.14.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "290f1a1d9242c78d09ce40a5e87e7554ee637af1351968159f4952f028f75604"
 
-[[package]]
-name = "hdrhistogram"
-version = "7.5.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7f19b9f54f7c7f55e31401bb647626ce0cf0f67b0004982ce815b3ee72a02aa8"
-dependencies = [
- "base64 0.13.1",
- "byteorder",
- "flate2",
- "nom",
- "num-traits",
-]
-
 [[package]]
 name = "heapless"
 version = "0.7.16"
@@ -2114,12 +2020,6 @@ version = "1.0.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c4a1e36c821dbe04574f602848a19f742f4fb3c98d40449f11bcad18d6b17421"
 
-[[package]]
-name = "humantime"
-version = "2.1.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9a3a5bfb195931eeb336b2a7b4d761daec841b97f947d34394601737a7bba5e4"
-
 [[package]]
 name = "hyper"
 version = "0.14.28"
@@ -2157,18 +2057,6 @@ dependencies = [
  "tokio-rustls",
 ]
 
-[[package]]
-name = "hyper-timeout"
-version = "0.4.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bbb958482e8c7be4bc3cf272a766a2b0bf1a6755e7a6ae777f017a31d11b13b1"
-dependencies = [
- "hyper",
- "pin-project-lite",
- "tokio",
- "tokio-io-timeout",
-]
-
 [[package]]
 name = "hyper-tls"
 version = "0.5.0"
@@ -2801,12 +2689,6 @@ version = "0.1.10"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "2532096657941c2fea9c289d370a250971c689d4f143798ff67113ec042024a5"
 
-[[package]]
-name = "matchit"
-version = "0.7.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b87248edafb776e59e6ee64a79086f65890d3510f2c656c000bf2a7e8a0aea40"
-
 [[package]]
 name = "maybe-rayon"
 version = "0.1.1"
@@ -3104,15 +2986,11 @@ dependencies = [
  "anyhow",
  "futures",
  "indexmap 1.9.3",
- "indoc",
  "next-core",
- "once_cell",
  "serde",
  "serde_json",
  "shadow-rs",
- "tokio",
  "tracing",
- "tracing-subscriber",
  "turbo-tasks",
  "turbopack-binding",
 ]
@@ -3121,9 +2999,7 @@ dependencies = [
 name = "next-build"
 version = "0.1.0"
 dependencies = [
- "console-subscriber",
  "next-core",
- "turbo-tasks",
  "turbopack-binding",
  "vergen 7.5.1",
 ]
@@ -3934,38 +3810,6 @@ dependencies = [
  "unicode-ident",
 ]
 
-[[package]]
-name = "prost"
-version = "0.11.8"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e48e50df39172a3e7eb17e14642445da64996989bc212b583015435d39a58537"
-dependencies = [
- "bytes",
- "prost-derive",
-]
-
-[[package]]
-name = "prost-derive"
-version = "0.11.8"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4ea9b0f8cbe5e15a8a042d030bd96668db28ecb567ec37d691971ff5731d2b1b"
-dependencies = [
- "anyhow",
- "itertools 0.10.5",
- "proc-macro2",
- "quote",
- "syn 1.0.109",
-]
-
-[[package]]
-name = "prost-types"
-version = "0.11.8"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "379119666929a1afd7a043aa6cf96fa67a6dce9af60c88095a4686dbce4c9c88"
-dependencies = [
- "prost",
-]
-
 [[package]]
 name = "psm"
 version = "0.1.21"
@@ -6566,12 +6410,6 @@ dependencies = [
  "unicode-ident",
 ]
 
-[[package]]
-name = "sync_wrapper"
-version = "0.1.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2047c6ded9c721764247e62cd3b03c09ffc529b2ba5b10ec482ae507a4a70160"
-
 [[package]]
 name = "sys-info"
 version = "0.9.1"
@@ -6825,20 +6663,9 @@ dependencies = [
  "signal-hook-registry",
  "socket2 0.5.6",
  "tokio-macros",
- "tracing",
  "windows-sys 0.48.0",
 ]
 
-[[package]]
-name = "tokio-io-timeout"
-version = "1.2.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "30b74022ada614a1b4834de765f9bb43877f910cc8ce4be40e89042c9223a8bf"
-dependencies = [
- "pin-project-lite",
- "tokio",
-]
-
 [[package]]
 name = "tokio-macros"
 version = "2.1.0"
@@ -6976,64 +6803,6 @@ dependencies = [
  "winnow",
 ]
 
-[[package]]
-name = "tonic"
-version = "0.8.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8f219fad3b929bef19b1f86fbc0358d35daed8f2cac972037ac0dc10bbb8d5fb"
-dependencies = [
- "async-stream",
- "async-trait",
- "axum",
- "base64 0.13.1",
- "bytes",
- "futures-core",
- "futures-util",
- "h2",
- "http",
- "http-body",
- "hyper",
- "hyper-timeout",
- "percent-encoding",
- "pin-project",
- "prost",
- "prost-derive",
- "tokio",
- "tokio-stream",
- "tokio-util",
- "tower",
- "tower-layer",
- "tower-service",
- "tracing",
- "tracing-futures",
-]
-
-[[package]]
-name = "tower"
-version = "0.4.13"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b8fa9be0de6cf49e536ce1851f987bd21a43b771b09473c3549a6c853db37c1c"
-dependencies = [
- "futures-core",
- "futures-util",
- "indexmap 1.9.3",
- "pin-project",
- "pin-project-lite",
- "rand",
- "slab",
- "tokio",
- "tokio-util",
- "tower-layer",
- "tower-service",
- "tracing",
-]
-
-[[package]]
-name = "tower-layer"
-version = "0.3.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c20c8dbed6283a09604c3e69b4b7eeb54e298b8a600d4d5ecb5ad39de609f1d0"
-
 [[package]]
 name = "tower-service"
 version = "0.3.2"
@@ -7084,16 +6853,6 @@ dependencies = [
  "valuable",
 ]
 
-[[package]]
-name = "tracing-futures"
-version = "0.2.5"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "97d095ae15e245a057c8e8451bab9b3ee1e1f68e9ba2b4fbc18d0ac5237835f2"
-dependencies = [
- "pin-project",
- "tracing",
-]
-
 [[package]]
 name = "tracing-log"
 version = "0.2.0"
@@ -7105,16 +6864,6 @@ dependencies = [
  "tracing-core",
 ]
 
-[[package]]
-name = "tracing-serde"
-version = "0.1.3"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bc6b213177105856957181934e4920de57730fc69bf42c37ee5bb664d406d9e1"
-dependencies = [
- "serde",
- "tracing-core",
-]
-
 [[package]]
 name = "tracing-subscriber"
 version = "0.3.18"
@@ -7125,15 +6874,12 @@ dependencies = [
  "nu-ansi-term",
  "once_cell",
  "regex",
- "serde",
- "serde_json",
  "sharded-slab",
  "smallvec",
  "thread_local",
  "tracing",
  "tracing-core",
  "tracing-log",
- "tracing-serde",
 ]
 
 [[package]]
@@ -8304,6 +8050,7 @@ dependencies = [
  "serde-wasm-bindgen",
  "serde_json",
  "swc_core",
+ "tracing",
  "turbopack-binding",
  "wasm-bindgen",
  "wasm-bindgen-futures",
diff --git a/packages/next-swc/crates/napi/Cargo.toml b/packages/next-swc/crates/napi/Cargo.toml
index beb03af47b6d5..2f6e522a230c4 100644
--- a/packages/next-swc/crates/napi/Cargo.toml
+++ b/packages/next-swc/crates/napi/Cargo.toml
@@ -43,10 +43,16 @@ __internal_dhat-ad-hoc = ["dhat"]
 turbopack-binding = { workspace = true, features = ["__turbo_tasks_malloc"] }
 
 [target.'cfg(all(target_os = "linux", not(any(target_arch = "aarch64", target_arch = "wasm32"))))'.dependencies]
-turbopack-binding = { workspace = true, features = ["__turbo_tasks_malloc", "__turbo_tasks_malloc_custom_allocator"] }
+turbopack-binding = { workspace = true, features = [
+  "__turbo_tasks_malloc",
+  "__turbo_tasks_malloc_custom_allocator",
+] }
 
 [target.'cfg(not(any(target_os = "linux", target_arch = "wasm32")))'.dependencies]
-turbopack-binding = { workspace = true, features = ["__turbo_tasks_malloc", "__turbo_tasks_malloc_custom_allocator"] }
+turbopack-binding = { workspace = true, features = [
+  "__turbo_tasks_malloc",
+  "__turbo_tasks_malloc_custom_allocator",
+] }
 
 # Enable specific tls features per-target.
 [target.'cfg(all(target_os = "windows", target_arch = "aarch64"))'.dependencies]
@@ -75,15 +81,14 @@ napi = { version = "2", default-features = false, features = [
 ] }
 napi-derive = "2"
 next-custom-transforms = { workspace = true }
-
 serde = "1"
 serde_json = "1"
 shadow-rs = { workspace = true }
 tracing = { workspace = true }
 tracing-subscriber = { workspace = true }
 tracing-chrome = "0.5.0"
-url = {workspace = true}
-urlencoding = {workspace = true}
+url = { workspace = true }
+urlencoding = { workspace = true }
 
 # Dependencies for the native, non-wasm32 build.
 [target.'cfg(not(target_arch = "wasm32"))'.dependencies]
diff --git a/packages/next-swc/crates/napi/build.rs b/packages/next-swc/crates/napi/build.rs
index 46e896b33fd9e..3e94346bda3c8 100644
--- a/packages/next-swc/crates/napi/build.rs
+++ b/packages/next-swc/crates/napi/build.rs
@@ -6,8 +6,20 @@ fn main() {
     // So failing build if this fails.
     shadow_rs::new().expect("Should able to generate build time information");
 
+    #[cfg(not(all(target_os = "macos", target_arch = "aarch64")))]
     napi_build::setup();
 
+    // This is a workaround for napi always including a GCC specific flag.
+    #[cfg(all(target_os = "macos", target_arch = "aarch64"))]
+    {
+        println!("cargo:rerun-if-env-changed=DEBUG_GENERATED_CODE");
+        println!("cargo:rerun-if-env-changed=TYPE_DEF_TMP_PATH");
+        println!("cargo:rerun-if-env-changed=CARGO_CFG_NAPI_RS_CLI_VERSION");
+
+        println!("cargo:rustc-cdylib-link-arg=-undefined");
+        println!("cargo:rustc-cdylib-link-arg=dynamic_lookup");
+    }
+
     // Resolve a potential linker issue for unit tests on linux
     // https://github.com/napi-rs/napi-rs/issues/1782
     #[cfg(all(target_os = "linux", not(target_arch = "wasm32")))]
diff --git a/packages/next-swc/crates/next-api/Cargo.toml b/packages/next-swc/crates/next-api/Cargo.toml
index ef362476f0da4..f9b9f7a2caf98 100644
--- a/packages/next-swc/crates/next-api/Cargo.toml
+++ b/packages/next-swc/crates/next-api/Cargo.toml
@@ -16,13 +16,10 @@ workspace = true
 anyhow = { workspace = true, features = ["backtrace"] }
 futures = { workspace = true }
 indexmap = { workspace = true }
-indoc = { workspace = true }
 next-core = { workspace = true }
-once_cell = { workspace = true }
 serde = { workspace = true }
 serde_json = { workspace = true }
 shadow-rs = { workspace = true }
-tokio = { workspace = true }
 turbopack-binding = { workspace = true, features = [
   "__turbo_tasks_memory",
   "__turbo_tasks_env",
@@ -37,7 +34,6 @@ turbopack-binding = { workspace = true, features = [
 ] }
 turbo-tasks = { workspace = true }
 tracing = { workspace = true }
-tracing-subscriber = { workspace = true, features = ["env-filter", "json"] }
 
 [build-dependencies]
 # It is not a mistake this dependency is specified in dep / build-dep both.
diff --git a/packages/next-swc/crates/next-build/Cargo.toml b/packages/next-swc/crates/next-build/Cargo.toml
index 2079887132035..c1d46586a33aa 100644
--- a/packages/next-swc/crates/next-build/Cargo.toml
+++ b/packages/next-swc/crates/next-build/Cargo.toml
@@ -9,15 +9,10 @@ autobenches = false
 [lib]
 bench = false
 
-[features]
-serializable = []
-profile = []
-
 [lints]
 workspace = true
 
 [dependencies]
-console-subscriber = { workspace = true, optional = true }
 next-core = { workspace = true }
 
 turbopack-binding = { workspace = true, features = [
@@ -35,7 +30,6 @@ turbopack-binding = { workspace = true, features = [
   "__turbopack_env",
   "__turbopack_node",
 ] }
-turbo-tasks = { workspace = true }
 
 [build-dependencies]
 turbopack-binding = { workspace = true, features = ["__turbo_tasks_build"] }
diff --git a/packages/next-swc/crates/next-custom-transforms/Cargo.toml b/packages/next-swc/crates/next-custom-transforms/Cargo.toml
index 2b0d4b746478c..30409ef6bd644 100644
--- a/packages/next-swc/crates/next-custom-transforms/Cargo.toml
+++ b/packages/next-swc/crates/next-custom-transforms/Cargo.toml
@@ -37,7 +37,7 @@ turbopack-binding = { workspace = true, features = [
   "__swc_transform_relay",
 ] }
 # To allow quote! macro works
-swc_core = { workspace = true, features = ["ecma_quote"]}
+swc_core = { workspace = true, features = ["ecma_quote"] }
 react_remove_properties = "0.24.7"
 remove_console = "0.25.7"
 preset_env_base = "0.4.12"
diff --git a/packages/next-swc/crates/wasm/Cargo.toml b/packages/next-swc/crates/wasm/Cargo.toml
index bc3bf0bc680c1..c184f6b6c5f84 100644
--- a/packages/next-swc/crates/wasm/Cargo.toml
+++ b/packages/next-swc/crates/wasm/Cargo.toml
@@ -21,6 +21,7 @@ anyhow = "1.0.66"
 console_error_panic_hook = "0.1.6"
 next-custom-transforms = { workspace = true }
 serde_json = "1"
+tracing = { version = "0.1.37" }
 wasm-bindgen = { version = "0.2", features = ["enable-interning"] }
 wasm-bindgen-futures = "0.4.8"
 getrandom = { version = "0.2.9", default-features = false, features = ["js"] }
diff --git a/rust-toolchain b/rust-toolchain
deleted file mode 100644
index fb98c0f091c33..0000000000000
--- a/rust-toolchain
+++ /dev/null
@@ -1 +0,0 @@
-nightly-2024-04-03
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
new file mode 100644
index 0000000000000..59c3a03ab6aaf
--- /dev/null
+++ b/rust-toolchain.toml
@@ -0,0 +1,4 @@
+[toolchain]
+channel = "nightly-2024-04-03"
+components = ["rustfmt", "clippy"]
+profile = "minimal"
diff --git a/scripts/send-trace-to-jaeger/Cargo.toml b/scripts/send-trace-to-jaeger/Cargo.toml
index 3ce726e52c10e..3d04ccfcae734 100644
--- a/scripts/send-trace-to-jaeger/Cargo.toml
+++ b/scripts/send-trace-to-jaeger/Cargo.toml
@@ -11,4 +11,4 @@ workspace = true
 
 [dependencies]
 serde_json = "1.0.59"
-reqwest = { version = "0.11.6", features = ["blocking"] }
\ No newline at end of file
+reqwest = { version = "0.11.6", features = ["blocking"] }