diff --git a/Makefile b/Makefile
index a720b778d..f69ab1b60 100644
--- a/Makefile
+++ b/Makefile
@@ -41,16 +41,16 @@ REGISTRY ?= ""
 ifneq (,$(findstring arm64,$(ARCH)))
 	SUPPORTED_ARCH = true
 	LIMA_ARCH = aarch64
-	# From https://dl.fedoraproject.org/pub/fedora/linux/releases/39/Cloud/aarch64/images/
-	FINCH_OS_BASENAME ?= Fedora-Cloud-Base-39-1.5.aarch64-20240322230317.qcow2
-	LIMA_URL ?= https://deps.runfinch.com/aarch64/lima-and-qemu.macos-aarch64.1712655075.tar.gz
+	# From https://dl.fedoraproject.org/pub/fedora/linux/releases/40/Cloud/aarch64/images/
+	FINCH_OS_BASENAME ?= Fedora-Cloud-Base-40-1.14.aarch64-20240514214641.qcow2
+	LIMA_URL ?= https://deps.runfinch.com/aarch64/lima-and-qemu.macos-aarch64.1715678889.tar.gz
 else ifneq (,$(findstring x86_64,$(ARCH)))
 	SUPPORTED_ARCH = true
 	LIMA_ARCH = x86_64
-	# From https://dl.fedoraproject.org/pub/fedora/linux/releases/39/Cloud/x86_64/images/
-	FINCH_OS_BASENAME ?= Fedora-Cloud-Base-39-1.5.x86_64-20240322192200.qcow2
-	LIMA_URL ?= https://deps.runfinch.com/x86-64/lima-and-qemu.macos-x86_64.1712655075.tar.gz
-	FINCH_ROOTFS_URL ?= https://deps.runfinch.com/common/x86-64/finch-rootfs-production-amd64-1711139710.tar.gz
+	# From https://dl.fedoraproject.org/pub/fedora/linux/releases/40/Cloud/x86_64/images/
+	FINCH_OS_BASENAME ?= Fedora-Cloud-Base-40-1.14.x86_64-20240514214655.qcow2
+	LIMA_URL ?= https://deps.runfinch.com/x86-64/lima-and-qemu.macos-x86_64.1715678889.tar.gz
+	FINCH_ROOTFS_URL ?= https://deps.runfinch.com/common/x86-64/finch-rootfs-production-amd64-1715724303.tar.gz
 	FINCH_ROOTFS_BASENAME := $(notdir $(FINCH_ROOTFS_URL))
 endif
 
diff --git a/deps/finch-core b/deps/finch-core
index 31a7b50e9..5c71e7350 160000
--- a/deps/finch-core
+++ b/deps/finch-core
@@ -1 +1 @@
-Subproject commit 31a7b50e93eb0c056acf342a290bef3fd40ea86a
+Subproject commit 5c71e73504c57332b98fdd1a55dd845db70ad419
diff --git a/e2e/vm/version_test.go b/e2e/vm/version_test.go
index 2582c930e..e6bfcf69e 100644
--- a/e2e/vm/version_test.go
+++ b/e2e/vm/version_test.go
@@ -17,9 +17,9 @@ import (
 )
 
 const (
-	nerdctlVersion    = "v1.7.5"
+	nerdctlVersion    = "v1.7.6"
 	buildKitVersion   = "v0.12.5"
-	containerdVersion = "v1.7.14"
+	containerdVersion = "v1.7.16"
 	runcVersion       = "1.1.12"
 )