diff --git a/.templates/examples.justfile.template b/.templates/examples.justfile.template
index b08c1a69..6aac109e 100644
--- a/.templates/examples.justfile.template
+++ b/.templates/examples.justfile.template
@@ -3,7 +3,7 @@
 set windows-shell := ["pwsh.exe", "-c"]
 
 run:
-    cargo run -p pulumi_wasm_runner -- run --wasm ../../target/wasm32-wasi/debug/pulumi/pulumi_wasm_example_docker.wasm
+    cargo run -p pulumi_wasm_runner -- run --wasm ../../target/wasm32-wasip1/debug/pulumi/pulumi_wasm_example_docker.wasm
 
 [windows]
 local-test:
diff --git a/docs/cargo-pulumi.md b/docs/cargo-pulumi.md
deleted file mode 100644
index fe3faa03..00000000
--- a/docs/cargo-pulumi.md
+++ /dev/null
@@ -1,5 +0,0 @@
-## cargo pulumi
-
-Command that compiles and combines Pulumi WASM components into a single WASM file. You can either run it from workspace
-subdirectory using `cargo pulumi` or from root using `cargo pulumi -p <subproject>`. In both cases file named `composed.wasm`
-will be created in `target/wasm32-wasi/debug` directory.
\ No newline at end of file
diff --git a/examples/dependencies/justfile b/examples/dependencies/justfile
index a328dc17..4945413c 100644
--- a/examples/dependencies/justfile
+++ b/examples/dependencies/justfile
@@ -1,8 +1,8 @@
 set windows-shell := ["pwsh.exe", "-c"]
 binary := "../../target/debug/pulumi_wasm_runner"
-wasm := "../../target/wasm32-wasi/debug/pulumi_wasm_example_dependencies.wasm"
-pulumi_wasm := "../../target/wasm32-wasi/debug/pulumi_wasm.wasm"
-random := "../../target/wasm32-wasi/debug/pulumi_wasm_random_provider.wasm"
+wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm_example_dependencies.wasm"
+pulumi_wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm.wasm"
+random := "../../target/wasm32-wasip1/debug/pulumi_wasm_random_provider.wasm"
 
 run:
     {{binary}} run --pulumi-wasm "{{pulumi_wasm}}" --provider "{{random}}" "{{wasm}}"
diff --git a/examples/docker/justfile b/examples/docker/justfile
index 9c84d5ea..68269114 100644
--- a/examples/docker/justfile
+++ b/examples/docker/justfile
@@ -1,8 +1,8 @@
 set windows-shell := ["pwsh.exe", "-c"]
 binary := "../../target/debug/pulumi_wasm_runner"
-wasm := "../../target/wasm32-wasi/debug/pulumi_wasm_example_docker.wasm"
-pulumi_wasm := "../../target/wasm32-wasi/debug/pulumi_wasm.wasm"
-docker := "../../target/wasm32-wasi/debug/pulumi_wasm_docker_provider.wasm"
+wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm_example_docker.wasm"
+pulumi_wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm.wasm"
+docker := "../../target/wasm32-wasip1/debug/pulumi_wasm_docker_provider.wasm"
 
 run:
     {{binary}} run --pulumi-wasm "{{pulumi_wasm}}" --provider "{{docker}}" "{{wasm}}"
diff --git a/examples/multiple_providers/justfile b/examples/multiple_providers/justfile
index abb2839d..22480a03 100644
--- a/examples/multiple_providers/justfile
+++ b/examples/multiple_providers/justfile
@@ -1,9 +1,9 @@
 set windows-shell := ["pwsh.exe", "-c"]
 binary := "../../target/debug/pulumi_wasm_runner"
-wasm := "../../target/wasm32-wasi/debug/pulumi_wasm_example_multiple_providers.wasm"
-pulumi_wasm := "../../target/wasm32-wasi/debug/pulumi_wasm.wasm"
-docker := "../../target/wasm32-wasi/debug/pulumi_wasm_docker_provider.wasm"
-random := "../../target/wasm32-wasi/debug/pulumi_wasm_random_provider.wasm"
+wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm_example_multiple_providers.wasm"
+pulumi_wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm.wasm"
+docker := "../../target/wasm32-wasip1/debug/pulumi_wasm_docker_provider.wasm"
+random := "../../target/wasm32-wasip1/debug/pulumi_wasm_random_provider.wasm"
 
 run:
     {{binary}} run --pulumi-wasm "{{pulumi_wasm}}" --provider "{{docker}}" --provider "{{random}}" "{{wasm}}"
diff --git a/examples/simple/justfile b/examples/simple/justfile
index 015fe7b4..e9ad83f4 100644
--- a/examples/simple/justfile
+++ b/examples/simple/justfile
@@ -1,8 +1,8 @@
 set windows-shell := ["pwsh.exe", "-c"]
 binary := "../../target/debug/pulumi_wasm_runner"
-wasm := "../../target/wasm32-wasi/debug/pulumi_wasm_example_simple.wasm"
-pulumi_wasm := "../../target/wasm32-wasi/debug/pulumi_wasm.wasm"
-random := "../../target/wasm32-wasi/debug/pulumi_wasm_random_provider.wasm"
+wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm_example_simple.wasm"
+pulumi_wasm := "../../target/wasm32-wasip1/debug/pulumi_wasm.wasm"
+random := "../../target/wasm32-wasip1/debug/pulumi_wasm_random_provider.wasm"
 
 run:
     {{binary}} run --pulumi-wasm "{{pulumi_wasm}}" --provider "{{random}}" "{{wasm}}"
diff --git a/justfile b/justfile
index 32129fb7..788b0735 100644
--- a/justfile
+++ b/justfile
@@ -2,7 +2,7 @@ set windows-shell := ["pwsh.exe", "-c"]
 # renovate: datasource=crate depName=cargo-nextest packageName=cargo-nextest
 NEXTEST_VERSION := "0.9.72"
 # renovate: datasource=crate depName=cargo-component packageName=cargo-component
-CARGO_COMPONENT_VERSION := "0.13.0"
+CARGO_COMPONENT_VERSION := "0.14.0"
 
 @default: build test
 
diff --git a/pulumi_wasm_generator_lib/tests/output/command_provider/rust-toolchain.toml b/pulumi_wasm_generator_lib/tests/output/command_provider/rust-toolchain.toml
index 7c11b942..247633d9 100644
--- a/pulumi_wasm_generator_lib/tests/output/command_provider/rust-toolchain.toml
+++ b/pulumi_wasm_generator_lib/tests/output/command_provider/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
 channel = "1.79.0"
-targets = ["wasm32-wasi"]
\ No newline at end of file
+targets = ["wasm32-wasip1"]
\ No newline at end of file
diff --git a/pulumi_wasm_generator_lib/tests/output/docker_provider/rust-toolchain.toml b/pulumi_wasm_generator_lib/tests/output/docker_provider/rust-toolchain.toml
index 7c11b942..247633d9 100644
--- a/pulumi_wasm_generator_lib/tests/output/docker_provider/rust-toolchain.toml
+++ b/pulumi_wasm_generator_lib/tests/output/docker_provider/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
 channel = "1.79.0"
-targets = ["wasm32-wasi"]
\ No newline at end of file
+targets = ["wasm32-wasip1"]
\ No newline at end of file
diff --git a/pulumi_wasm_generator_lib/tests/output/random_provider/rust-toolchain.toml b/pulumi_wasm_generator_lib/tests/output/random_provider/rust-toolchain.toml
index 7c11b942..247633d9 100644
--- a/pulumi_wasm_generator_lib/tests/output/random_provider/rust-toolchain.toml
+++ b/pulumi_wasm_generator_lib/tests/output/random_provider/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
 channel = "1.79.0"
-targets = ["wasm32-wasi"]
\ No newline at end of file
+targets = ["wasm32-wasip1"]
\ No newline at end of file
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index 7c11b942..247633d9 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
 channel = "1.79.0"
-targets = ["wasm32-wasi"]
\ No newline at end of file
+targets = ["wasm32-wasip1"]
\ No newline at end of file