diff --git a/Cargo.lock b/Cargo.lock
index 3d7e70dd03966..d55f55ad9ce73 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -321,7 +321,7 @@ dependencies = [
 [[package]]
 name = "auto-hash-map"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "serde",
  "smallvec",
@@ -3096,7 +3096,7 @@ dependencies = [
 [[package]]
 name = "node-file-trace"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "serde",
@@ -6908,12 +6908,12 @@ dependencies = [
 [[package]]
 name = "turbo-prehash"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 
 [[package]]
 name = "turbo-tasks"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -6947,7 +6947,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-build"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "cargo-lock",
@@ -6960,7 +6960,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-bytes"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "bytes",
@@ -6974,7 +6974,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-env"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "dotenvs",
@@ -6988,7 +6988,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-fetch"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "lazy_static",
@@ -7004,7 +7004,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-fs"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "auto-hash-map",
@@ -7036,7 +7036,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-hash"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "md4",
  "turbo-tasks-macros",
@@ -7046,7 +7046,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-macros"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "either",
@@ -7061,7 +7061,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-macros-shared"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -7071,7 +7071,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-malloc"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "mimalloc",
 ]
@@ -7079,7 +7079,7 @@ dependencies = [
 [[package]]
 name = "turbo-tasks-memory"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "auto-hash-map",
@@ -7107,7 +7107,7 @@ dependencies = [
 [[package]]
 name = "turbopack"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-recursion",
@@ -7137,7 +7137,7 @@ dependencies = [
 [[package]]
 name = "turbopack-binding"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "auto-hash-map",
  "mdxjs",
@@ -7178,7 +7178,7 @@ dependencies = [
 [[package]]
 name = "turbopack-browser"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
@@ -7201,7 +7201,7 @@ dependencies = [
 [[package]]
 name = "turbopack-cli-utils"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "clap",
@@ -7218,7 +7218,7 @@ dependencies = [
 [[package]]
 name = "turbopack-core"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-recursion",
@@ -7247,7 +7247,7 @@ dependencies = [
 [[package]]
 name = "turbopack-css"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
@@ -7274,7 +7274,7 @@ dependencies = [
 [[package]]
 name = "turbopack-dev-server"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-compression",
@@ -7310,7 +7310,7 @@ dependencies = [
 [[package]]
 name = "turbopack-ecmascript"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -7345,7 +7345,7 @@ dependencies = [
 [[package]]
 name = "turbopack-ecmascript-hmr-protocol"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "serde",
  "serde_json",
@@ -7356,7 +7356,7 @@ dependencies = [
 [[package]]
 name = "turbopack-ecmascript-plugins"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -7381,7 +7381,7 @@ dependencies = [
 [[package]]
 name = "turbopack-ecmascript-runtime"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indoc",
@@ -7397,7 +7397,7 @@ dependencies = [
 [[package]]
 name = "turbopack-env"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
@@ -7413,7 +7413,7 @@ dependencies = [
 [[package]]
 name = "turbopack-image"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "base64 0.21.4",
@@ -7432,7 +7432,7 @@ dependencies = [
 [[package]]
 name = "turbopack-json"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "serde",
@@ -7447,7 +7447,7 @@ dependencies = [
 [[package]]
 name = "turbopack-mdx"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "mdxjs",
@@ -7462,7 +7462,7 @@ dependencies = [
 [[package]]
 name = "turbopack-node"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "async-stream",
@@ -7496,7 +7496,7 @@ dependencies = [
 [[package]]
 name = "turbopack-nodejs"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
@@ -7516,7 +7516,7 @@ dependencies = [
 [[package]]
 name = "turbopack-resolve"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
@@ -7534,7 +7534,7 @@ dependencies = [
 [[package]]
 name = "turbopack-static"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "serde",
@@ -7550,7 +7550,7 @@ dependencies = [
 [[package]]
 name = "turbopack-swc-utils"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "swc_core",
  "turbo-tasks",
@@ -7561,7 +7561,7 @@ dependencies = [
 [[package]]
 name = "turbopack-trace-server"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "either",
@@ -7581,7 +7581,7 @@ dependencies = [
 [[package]]
 name = "turbopack-trace-utils"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "crossbeam-channel",
@@ -7597,7 +7597,7 @@ dependencies = [
 [[package]]
 name = "turbopack-wasm"
 version = "0.1.0"
-source = "git+https://github.com/vercel/turbo.git?branch=kdy1/swc-core-96-1#79159a681ddae181712d89e1c7a9323fc3b03a32"
+source = "git+https://github.com/vercel/turbo.git?tag=turbopack-240712.1#8a4be2d121b9e166384155becbb258e71da22cc8"
 dependencies = [
  "anyhow",
  "indexmap 1.9.3",
diff --git a/Cargo.toml b/Cargo.toml
index 61449209d280c..f6e31a4c3d44d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -38,11 +38,11 @@ swc_core = { version = "0.96.9", features = [
 testing = { version = "0.36.0" }
 
 # Turbo crates
-turbopack-binding = { git = "https://github.com/vercel/turbo.git", branch = "kdy1/swc-core-96-1" } # last tag: "turbopack-240706.1"
+turbopack-binding = { git = "https://github.com/vercel/turbo.git", tag = "turbopack-240712.1" }
 # [TODO]: need to refactor embed_directory! macro usages, as well as resolving turbo_tasks::function, macros..
-turbo-tasks = { git = "https://github.com/vercel/turbo.git", branch = "kdy1/swc-core-96-1" } # last tag: "turbopack-240706.1"
+turbo-tasks = { git = "https://github.com/vercel/turbo.git", tag = "turbopack-240712.1" }
 # [TODO]: need to refactor embed_directory! macro usage in next-core
-turbo-tasks-fs = { git = "https://github.com/vercel/turbo.git", branch = "kdy1/swc-core-96-1" } # last tag: "turbopack-240706.1"
+turbo-tasks-fs = { git = "https://github.com/vercel/turbo.git", tag = "turbopack-240712.1" }
 
 # General Deps
 
diff --git a/packages/next/package.json b/packages/next/package.json
index f4d8eb30293bb..523ef7b250611 100644
--- a/packages/next/package.json
+++ b/packages/next/package.json
@@ -205,7 +205,7 @@
     "@types/ws": "8.2.0",
     "@vercel/ncc": "0.34.0",
     "@vercel/nft": "0.27.1",
-    "@vercel/turbopack-ecmascript-runtime": "https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32",
+    "@vercel/turbopack-ecmascript-runtime": "https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1",
     "acorn": "8.11.3",
     "amphtml-validator": "1.0.35",
     "anser": "1.4.9",
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index ea8f03872a828..bada175c970a8 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -1114,8 +1114,8 @@ importers:
         specifier: 0.27.1
         version: 0.27.1(encoding@0.1.13)
       '@vercel/turbopack-ecmascript-runtime':
-        specifier: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32
-        version: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32
+        specifier: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1
+        version: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1
       acorn:
         specifier: 8.11.3
         version: 8.11.3
@@ -5114,8 +5114,8 @@ packages:
     resolution: {integrity: sha512-OTe0KE37F5Y2eTys6eMnfopC+P4qr2ooXUTFyFPTplYSPwowmFk/HLD1FXtbKLjqsIH0SgekcJWad+C5uX4nkg==}
     engines: {node: '>=16'}
 
-  '@vercel/turbopack-ecmascript-runtime@https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32':
-    resolution: {tarball: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32}
+  '@vercel/turbopack-ecmascript-runtime@https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1':
+    resolution: {tarball: https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1}
     version: 0.0.0
 
   '@webassemblyjs/ast@1.11.6':
@@ -19598,7 +19598,7 @@ snapshots:
       satori: 0.10.9
       yoga-wasm-web: 0.3.3
 
-  '@vercel/turbopack-ecmascript-runtime@https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?79159a681ddae181712d89e1c7a9323fc3b03a32':
+  '@vercel/turbopack-ecmascript-runtime@https://gitpkg-fork.vercel.sh/vercel/turbo/crates/turbopack-ecmascript-runtime/js?turbopack-240712.1':
     dependencies:
       '@types/node': 20.12.3