diff --git a/.devcontainer/Dockerfile b/.devcontainer/Dockerfile
index 9eb6f80..91773fe 100644
--- a/.devcontainer/Dockerfile
+++ b/.devcontainer/Dockerfile
@@ -28,7 +28,7 @@ RUN wget https://github.com/WebAssembly/wasi-sdk/releases/download/wasi-sdk-${WA
  && mv /wasi-sdk-${WASI_SDK_VERSION_FULL}-x86_64-linux /opt/wasi-sdk
 
 USER $USER
-ARG RUST_TOOLCHAIN=1.85.0
+ARG RUST_TOOLCHAIN=1.86.0
 
 # Install rust and component tools
 RUN rustup default ${RUST_TOOLCHAIN} \
diff --git a/.github/workflows/Benchmarks.yml b/.github/workflows/Benchmarks.yml
index dceed11..4339001 100644
--- a/.github/workflows/Benchmarks.yml
+++ b/.github/workflows/Benchmarks.yml
@@ -36,13 +36,13 @@ jobs:
 
     - uses: hyperlight-dev/ci-setup-workflow@v1.5.0
       with:
-        rust-toolchain: "1.85.0"
+        rust-toolchain: "1.86.0"
 
     - name: Build Wasm Runtime Binary
       working-directory: ./src/hyperlight_wasm
       run: just build-wasm-runtime ${{ matrix.config }}
-    
-    - uses: dtolnay/rust-toolchain@1.85.0
+
+    - uses: dtolnay/rust-toolchain@1.86.0
       with:
         components: clippy, rustfmt
 
@@ -79,4 +79,4 @@ jobs:
       with: 
         name: benchmarks_${{runner.os}}_${{matrix.hypervisor}}_${{ matrix.cpu }}
         path: ./target/criterion/
-        if-no-files-found: error
\ No newline at end of file
+        if-no-files-found: error
diff --git a/.github/workflows/CargoAudit.yml b/.github/workflows/CargoAudit.yml
index 662fba6..7e8a60c 100644
--- a/.github/workflows/CargoAudit.yml
+++ b/.github/workflows/CargoAudit.yml
@@ -18,12 +18,12 @@ jobs:
       # We are not using the common workflow here because it installs a lot of tools we don't need
       - uses: dtolnay/rust-toolchain@master
         with:
-          toolchain: "1.85.0"
-          
+          toolchain: "1.86.0"
+
       - uses: extractions/setup-just@v3
         with:
           just-version: "1.27"
                  
       - uses: rustsec/audit-check@v2.0.0
         with:
-          token: ${{ secrets.GITHUB_TOKEN }}
\ No newline at end of file
+          token: ${{ secrets.GITHUB_TOKEN }}
diff --git a/.github/workflows/CreateDevcontainerImage.yml b/.github/workflows/CreateDevcontainerImage.yml
index a7fe4dc..da7a7b2 100644
--- a/.github/workflows/CreateDevcontainerImage.yml
+++ b/.github/workflows/CreateDevcontainerImage.yml
@@ -16,7 +16,7 @@ env:
   USER: vscode
   GROUP: vscode
   LLVM_VERSION: 17
-  RUST_TOOLCHAIN_DEFAULT: 1.85.0
+  RUST_TOOLCHAIN_DEFAULT: 1.86.0
   RUST_TOOLCHAIN_FILE: rust-toolchain.toml
   WASI_SDK_VERSION_FULL: "25.0"
   GCC_VERSION: "12" 
diff --git a/.github/workflows/CreateRelease.yml b/.github/workflows/CreateRelease.yml
index 9b1afca..533679e 100644
--- a/.github/workflows/CreateRelease.yml
+++ b/.github/workflows/CreateRelease.yml
@@ -37,7 +37,7 @@ jobs:
     - name: Hyperlight setup
       uses: hyperlight-dev/ci-setup-workflow@v1.5.0
       with:
-          rust-toolchain: "1.85.0"
+          rust-toolchain: "1.86.0"
     - name: Verify vendor.tar
       if: ${{ contains(github.ref, 'refs/heads/release/') }}
       run: |
diff --git a/.github/workflows/dep_build_wasm_examples.yml b/.github/workflows/dep_build_wasm_examples.yml
index c90c872..9888d56 100644
--- a/.github/workflows/dep_build_wasm_examples.yml
+++ b/.github/workflows/dep_build_wasm_examples.yml
@@ -33,7 +33,7 @@ jobs:
         - name: Hyperlight setup workflow
           uses: hyperlight-dev/ci-setup-workflow@v1.5.0
           with:
-            rust-toolchain: "1.85.0"
+            rust-toolchain: "1.86.0"
         - name: Set up Docker Buildx
           uses: docker/setup-buildx-action@v3
         - name: Login to Registry
diff --git a/.github/workflows/dep_cargo_publish.yml b/.github/workflows/dep_cargo_publish.yml
index a172361..55f3f61 100644
--- a/.github/workflows/dep_cargo_publish.yml
+++ b/.github/workflows/dep_cargo_publish.yml
@@ -22,7 +22,7 @@ jobs:
       - name: Hyperlight setup 
         uses: hyperlight-dev/ci-setup-workflow@v1.5.0
         with:
-          rust-toolchain: "1.85.0"
+          rust-toolchain: "1.86.0"
 
         # github actions that run against PRs check out a ref to the PR merge branch
         # we need to switch / create a branch for cargo ws to run late
@@ -67,4 +67,4 @@ jobs:
       - name: Package hyperlight-wasm (dry-run)
         if: ${{ inputs.event_name == 'pull_request' }}
         working-directory: src/hyperlight_wasm
-        run: cargo package --manifest-path ./Cargo.toml --allow-dirty
\ No newline at end of file
+        run: cargo package --manifest-path ./Cargo.toml --allow-dirty
diff --git a/.github/workflows/dep_rust.yml b/.github/workflows/dep_rust.yml
index 926bc28..85b127d 100644
--- a/.github/workflows/dep_rust.yml
+++ b/.github/workflows/dep_rust.yml
@@ -52,7 +52,7 @@ jobs:
       - name: Hyperlight setup
         uses: hyperlight-dev/ci-setup-workflow@v1.5.0
         with:
-          rust-toolchain: "1.85.0"
+          rust-toolchain: "1.86.0"
 
       - name: Add Nightly Rust
         run: |
diff --git a/Cargo.lock b/Cargo.lock
index c8cfd28..6a0d9fb 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -324,15 +324,15 @@ dependencies = [
 
 [[package]]
 name = "cargo-util-schemas"
-version = "0.2.0"
+version = "0.8.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e63d2780ac94487eb9f1fea7b0d56300abc9eb488800854ca217f102f5caccca"
+checksum = "7dc1a6f7b5651af85774ae5a34b4e8be397d9cf4bc063b7e6dbd99a841837830"
 dependencies = [
  "semver",
  "serde",
  "serde-untagged",
  "serde-value",
- "thiserror 1.0.69",
+ "thiserror 2.0.12",
  "toml 0.8.23",
  "unicode-xid",
  "url",
@@ -340,9 +340,9 @@ dependencies = [
 
 [[package]]
 name = "cargo_metadata"
-version = "0.20.0"
+version = "0.21.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4f7835cfc6135093070e95eb2b53e5d9b5c403dc3a6be6040ee026270aa82502"
+checksum = "5cfca2aaa699835ba88faf58a06342a314a950d2b9686165e038286c30316868"
 dependencies = [
  "camino",
  "cargo-platform",
diff --git a/Cargo.toml b/Cargo.toml
index f7f662b..5db9026 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -6,7 +6,7 @@ resolver = "2"
 [workspace.package]
 version = "0.7.0"
 edition = "2024"
-rust-version = "1.85"
+rust-version = "1.86"
 license = "Apache-2.0"
 homepage = "https://github.com/hyperlight-dev/hyperlight-wasm"
 repository = "https://github.com/hyperlight-dev/hyperlight-wasm"
diff --git a/README.md b/README.md
index 1d4fbe0..ffbe747 100644
--- a/README.md
+++ b/README.md
@@ -58,11 +58,11 @@ You should also add your user to the kvm group: `sudo adduser $USER kvm`
 
 ## Building
 
-NOTE: Ensure that you use version 1.85.0 of rust toolchain.
+NOTE: Ensure that you use version 1.86.0 of rust toolchain.
 
 ```Console
-rustup install 1.85.0
-rustup default 1.85.0
+rustup install 1.86.0
+rustup default 1.86.0
 ```
 
 Now you can build the Rust Wasm library:
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index c1bc0a6..cf6d0f5 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,2 +1,2 @@
 [toolchain]
-channel = "1.85.0"
+channel = "1.86.0"
diff --git a/src/hyperlight_wasm/scripts/check-elf-simd.sh b/src/hyperlight_wasm/scripts/check-elf-simd.sh
new file mode 100644
index 0000000..e69de29
diff --git a/src/hyperlight_wasm_aot/Cargo.toml b/src/hyperlight_wasm_aot/Cargo.toml
index 6c27b0a..8aaad99 100644
--- a/src/hyperlight_wasm_aot/Cargo.toml
+++ b/src/hyperlight_wasm_aot/Cargo.toml
@@ -14,5 +14,5 @@ Application to precompile WebAssembly binaries to for hyperlight-wasm.
 [dependencies]
 wasmtime = { version = "34.0.2", default-features = false, features = ["cranelift", "runtime", "component-model" ] }
 clap = "4.5"
-cargo_metadata = "0.20"
-cargo-util-schemas = "=0.2.0"
+cargo_metadata = "0.21"
+cargo-util-schemas = "0.8.2"