diff --git a/Cargo.lock b/Cargo.lock
index b566ba79a..fe6481042 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -532,21 +532,32 @@ dependencies = [
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0b6b33d7e757a887989eb18b35712b2a67d96171ec3149d1bfb657b29b7b367c"
+checksum = "effa84ab2023f7138045ece6b326588c17447ca22e66db71ec15cb0a6c0c4ad2"
 dependencies = [
  "cranelift-entity",
 ]
 
+[[package]]
+name = "cranelift-bitset"
+version = "0.110.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "38a1dfc50dca188a15d938867c4400589530bcb0138f7022aae6d059d1d8c309"
+dependencies = [
+ "serde",
+ "serde_derive",
+]
+
 [[package]]
 name = "cranelift-codegen"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b9acf15cb22be42d07c3b57d7856329cb228b7315d385346149df2566ad5e4aa"
+checksum = "821c20c639350158ecca928dc2a244d0d1c9cef2377a378fc62a445a286eb1ca"
 dependencies = [
  "bumpalo",
  "cranelift-bforest",
+ "cranelift-bitset",
  "cranelift-codegen-meta",
  "cranelift-codegen-shared",
  "cranelift-control",
@@ -563,43 +574,44 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e934d301392b73b3f8b0540391fb82465a0f179a3cee7c726482ac4727efcc97"
+checksum = "064473f2fd59b44fa2c9aaa60de1f9c44db5e13521e28bc85d2b92ee535ef625"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8afb2a2566b3d54b854dfb288b3b187f6d3d17d6f762c92898207eba302931da"
+checksum = "d0f39b9ebfd2febdc2acfb9a0fca110665bcd5a6839502576307735ed07b2177"
 
 [[package]]
 name = "cranelift-control"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0100f33b704cdacd01ad66ff41f8c5030d57cbff078e2a4e49ab1822591299fa"
+checksum = "94e125c189c3a1ca8dfe209fc6f46edba058a6d24e0b92aff69459a15f4711e7"
 dependencies = [
  "arbitrary",
 ]
 
 [[package]]
 name = "cranelift-entity"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a8cfdc315e5d18997093e040a8d234bea1ac1e118a716d3e30f40d449e78207b"
+checksum = "ea62eb109baec2247e1a6fa7b74c0f584b1e76e289cfd7017385b4b031fc8450"
 dependencies = [
+ "cranelift-bitset",
  "serde",
  "serde_derive",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0f74b84f16af2e982b0c0c72233503d9d55cbfe3865dbe807ca28dc6642a28b5"
+checksum = "722b089357aacb6c7528b2e59a5fe00917d61ce63448b25a3e477a5b7819fac8"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -609,15 +621,15 @@ dependencies = [
 
 [[package]]
 name = "cranelift-isle"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "adf306d3dde705fb94bd48082f01d38c4ededc74293a4c007805f610bf08bc6e"
+checksum = "c4b5005a48288e7fc2a2991a377831c534e26929b063c379c018060727785a9b"
 
 [[package]]
 name = "cranelift-native"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1ea0ebdef7aff4a79bcbc8b6495f31315f16b3bf311152f472eaa8d679352581"
+checksum = "3ae2d48f38081a9e679ad795bd36bb29bedeb5552fc1c195185bf9885fa1b16e"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -626,9 +638,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.109.0"
+version = "0.110.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d549108a1942065cdbac3bb96c2952afa0e1b9a3beff4b08c4308ac72257576d"
+checksum = "25abc7b3ec5aab50546ee9a29073223d2602b49b3d73ce312bf481fadba01255"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
@@ -636,7 +648,7 @@ dependencies = [
  "itertools 0.12.1",
  "log",
  "smallvec",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
  "wasmtime-types",
 ]
 
@@ -1565,15 +1577,6 @@ dependencies = [
  "rustix",
 ]
 
-[[package]]
-name = "memoffset"
-version = "0.9.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "488016bfae457b036d996092f6cb448677611ce4449e970ceaf42695203f218a"
-dependencies = [
- "autocfg",
-]
-
 [[package]]
 name = "mime"
 version = "0.3.17"
@@ -2807,6 +2810,15 @@ dependencies = [
  "windows-sys 0.52.0",
 ]
 
+[[package]]
+name = "termcolor"
+version = "1.4.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "06794f8f6c5c898b3275aebefa6b8a1cb24cd2c6c79397ab15774837a0bc5755"
+dependencies = [
+ "winapi-util",
+]
+
 [[package]]
 name = "termtree"
 version = "0.4.1"
@@ -3366,9 +3378,9 @@ dependencies = [
 
 [[package]]
 name = "wasm-encoder"
-version = "0.209.1"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7b4a05336882dae732ce6bd48b7e11fe597293cb72c13da4f35d7d5f8d53b2a7"
+checksum = "501940df4418b8929eb6d52f1aade1fdd15a5b86c92453cb696e3c906bd3fc33"
 dependencies = [
  "leb128",
 ]
@@ -3428,9 +3440,9 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.209.1"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "07035cc9a9b41e62d3bb3a3815a66ab87c993c06fe1cf6b2a3f2a18499d937db"
+checksum = "8d28bc49ba1e5c5b61ffa7a2eace10820443c4b7d1c0b144109261d14570fdf8"
 dependencies = [
  "ahash",
  "bitflags 2.6.0",
@@ -3455,23 +3467,25 @@ dependencies = [
 
 [[package]]
 name = "wasmprinter"
-version = "0.209.1"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ceca8ae6eaa8c7c87b33c25c53bdf299f8c2a764aee1179402ff7652ef3a6859"
+checksum = "dfac65326cc561112af88c3028f6dfdb140acff67ede33a8e86be2dc6b8956f7"
 dependencies = [
  "anyhow",
- "wasmparser 0.209.1",
+ "termcolor",
+ "wasmparser 0.212.0",
 ]
 
 [[package]]
 name = "wasmtime"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "786d8b5e7a4d54917c5ebe555b9667337e5f93383f49bddaaeec2eba68093b45"
+checksum = "8945e69ec96e5d36cbe1aa2e88e28f988562dd3b5133578c44aae20ea2bcdb40"
 dependencies = [
  "addr2line 0.21.0",
  "anyhow",
  "async-trait",
+ "bitflags 2.6.0",
  "bumpalo",
  "cc",
  "cfg-if",
@@ -3486,7 +3500,6 @@ dependencies = [
  "log",
  "mach2",
  "memfd",
- "memoffset",
  "object",
  "once_cell",
  "paste",
@@ -3501,8 +3514,8 @@ dependencies = [
  "smallvec",
  "sptr",
  "target-lexicon",
- "wasm-encoder 0.209.1",
- "wasmparser 0.209.1",
+ "wasm-encoder 0.212.0",
+ "wasmparser 0.212.0",
  "wasmtime-asm-macros",
  "wasmtime-cache",
  "wasmtime-component-macro",
@@ -3521,18 +3534,18 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-asm-macros"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "d697d99c341d4a9ffb72f3af7a02124d233eeb59aee010f36d88e97cca553d5e"
+checksum = "964c3b3342547a51e0d2702eae3a2d2be215d16b55a14e2e786b11c4931b7f08"
 dependencies = [
  "cfg-if",
 ]
 
 [[package]]
 name = "wasmtime-cache"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "916610f9ae9a6c22deb25bba2e6247ba9f00b093d30620875203b91328a1adfa"
+checksum = "ba2577db54531c36d875a89c5baf92dd860dd0cc256063ba710f28f36c4e9148"
 dependencies = [
  "anyhow",
  "base64 0.21.7",
@@ -3550,9 +3563,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-component-macro"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b29b462b068e73b5b27fae092a27f47e5937cabf6b26be2779c978698a52feca"
+checksum = "0e9a60f3dfc8a825214be6e3e8e4fab280ea9d46ea2f4db11d958e754be021ae"
 dependencies = [
  "anyhow",
  "proc-macro2",
@@ -3560,20 +3573,20 @@ dependencies = [
  "syn 2.0.72",
  "wasmtime-component-util",
  "wasmtime-wit-bindgen",
- "wit-parser 0.209.1",
+ "wit-parser 0.212.0",
 ]
 
 [[package]]
 name = "wasmtime-component-util"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f9d2912c53d9054984b380dfbd7579f9c3681b2a73b903a56bd71a1c4f175f1e"
+checksum = "2bd9555175ad59d13fd353c2a6d9bc92f47f3496fc2b92e84eaa9e6edf048f3c"
 
 [[package]]
 name = "wasmtime-cranelift"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a3975deafea000457ba84355c7c0fce0372937204f77026510b7b454f28a3a65"
+checksum = "b7ab12460e903933b1122d0c7ca5eb1a6160574870a5b110891a4cc96ef6ec3a"
 dependencies = [
  "anyhow",
  "cfg-if",
@@ -3588,19 +3601,20 @@ dependencies = [
  "object",
  "target-lexicon",
  "thiserror",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
  "wasmtime-environ",
  "wasmtime-versioned-export-macros",
 ]
 
 [[package]]
 name = "wasmtime-environ"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f444e900e848b884d8a8a2949b6f5b92af642a3e663ff8fbe78731143a55be61"
+checksum = "9e52faba13550fed76d5ffe75ec7cada73109b9324c4dabcaf18b3165107010d"
 dependencies = [
  "anyhow",
  "cpp_demangle",
+ "cranelift-bitset",
  "cranelift-entity",
  "gimli 0.28.1",
  "indexmap 2.2.6",
@@ -3608,11 +3622,12 @@ dependencies = [
  "object",
  "postcard",
  "rustc-demangle",
+ "semver",
  "serde",
  "serde_derive",
  "target-lexicon",
- "wasm-encoder 0.209.1",
- "wasmparser 0.209.1",
+ "wasm-encoder 0.212.0",
+ "wasmparser 0.212.0",
  "wasmprinter",
  "wasmtime-component-util",
  "wasmtime-types",
@@ -3620,9 +3635,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-fiber"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4ded58eb2d1bf0dcd2182d0ccd7055c4b10b50d711514f1d73f61515d0fa829d"
+checksum = "9ad6a540bc919350909817c3d72383007dd9386d60b74d0d728761284627feb1"
 dependencies = [
  "anyhow",
  "cc",
@@ -3635,9 +3650,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-debug"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9bc54198c6720f098210a85efb3ba8c078d1de4d373cdb6778850a66ae088d11"
+checksum = "f71632cb3d01bc456b010689c554caf0f36e9040ffd357f097fdb8d42d09f710"
 dependencies = [
  "object",
  "once_cell",
@@ -3647,9 +3662,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-icache-coherence"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5afe2f0499542f9a4bcfa1b55bfdda803b6ade4e7c93c6b99e0f39dba44b0a91"
+checksum = "7fddf3e2980fb1d123d1fcac55189e417fdd3dba4f62139b5a0a1f9efe5669d5"
 dependencies = [
  "anyhow",
  "cfg-if",
@@ -3659,28 +3674,29 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-slab"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0a7de1f2bec5bbb35d532e61c85c049dc84ae671df60492f90b954ecf21169e7"
+checksum = "f3ac25f8f80a3c5cda4ea68472057b23fa309956ae9784c0f1347439e624840e"
 
 [[package]]
 name = "wasmtime-types"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "412463e9000e14cf6856be48628d2213c20c153e29ffc22b036980c892ea6964"
+checksum = "44a0fba5f60b030c635abafdcaf2e9ad883163676bd02a0f0ebaed9393453f28"
 dependencies = [
+ "anyhow",
  "cranelift-entity",
  "serde",
  "serde_derive",
  "smallvec",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
 ]
 
 [[package]]
 name = "wasmtime-versioned-export-macros"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "de5a9bc4f44ceeb168e9e8e3be4e0b4beb9095b468479663a9e24c667e36826f"
+checksum = "85b40c6d9c8f56ea0cbeacb80f40075a91687163b693b7cda39b48efe3c974d2"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -3689,9 +3705,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-wasi"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8abb1301089ed8e0b4840f539cba316a73ac382090f1b25d22d8c8eed8df49c7"
+checksum = "5a58bb8744f2e76c93e3bfb559646be80c1ebe1191b6e426f2d1b4571ad2a4c7"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -3720,16 +3736,16 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-winch"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ed4db238a0241df2d15f79ad17b3a37a27f2ea6cb885894d81b42ae107544466"
+checksum = "0027b71a418208a21c46988393ceda01dc64842d1b3a601ca0517da270c317b5"
 dependencies = [
  "anyhow",
  "cranelift-codegen",
  "gimli 0.28.1",
  "object",
  "target-lexicon",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
  "wasmtime-cranelift",
  "wasmtime-environ",
  "winch-codegen",
@@ -3737,14 +3753,14 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-wit-bindgen"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "70dc077306b38288262e5ba01d4b21532a6987416cdc0aedf04bb06c22a68fdc"
+checksum = "8cec1424f842d187b8244284e565f71b77bef8993452e8524f71216172978ac8"
 dependencies = [
  "anyhow",
  "heck 0.4.1",
  "indexmap 2.2.6",
- "wit-parser 0.209.1",
+ "wit-parser 0.212.0",
 ]
 
 [[package]]
@@ -3790,9 +3806,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "29830e5d01c182d24b94092c697aa7ab0ee97d22e78a2bf40ca91eae6ebca5c2"
+checksum = "4e5319ed83c2ac543c5f69e77b3548020ac1c1cc1f590ad627c77ed4d827a811"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -3805,9 +3821,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle-generate"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "557567f2793508760cd855f7659b7a0b9dc4dbc451f53f1415d6943a15311ade"
+checksum = "fe9a96d7bf758f59a0cb086d94ae24269cb7f1ffd3c24058871769884e8e9026"
 dependencies = [
  "anyhow",
  "heck 0.4.1",
@@ -3820,9 +3836,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle-macro"
-version = "22.0.0"
+version = "23.0.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "cc26129a8aea20b62c961d1b9ab4a3c3b56b10042ed85d004f8678af0f21ba6e"
+checksum = "caa70aa74de29f1438f083e39005d854812c72c48d876060e9e6df9686fb677b"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -3846,6 +3862,15 @@ version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ac3b87c63620426dd9b991e5ce0329eff545bccbbb34f3be09ff6fb6ab51b7b6"
 
+[[package]]
+name = "winapi-util"
+version = "0.1.8"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "4d4cc384e1e73b93bafa6fb4f1df8c41695c8a91cf9c4c64358067d15a7b6c6b"
+dependencies = [
+ "windows-sys 0.52.0",
+]
+
 [[package]]
 name = "winapi-x86_64-pc-windows-gnu"
 version = "0.4.0"
@@ -3854,9 +3879,9 @@ checksum = "712e227841d057c1ee1cd2fb22fa7e5a5461ae8e48fa2ca79ec42cfc1931183f"
 
 [[package]]
 name = "winch-codegen"
-version = "0.20.0"
+version = "0.21.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "85c6915884e731b2db0d8cf08cb64474cb69221a161675fd3c135f91febc3daa"
+checksum = "56a6aa28dbe4633a9934f27f18e262fd4886c02be3c6de0ee4ad3a1cb32a7758"
 dependencies = [
  "anyhow",
  "cranelift-codegen",
@@ -3864,7 +3889,7 @@ dependencies = [
  "regalloc2",
  "smallvec",
  "target-lexicon",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
  "wasmtime-cranelift",
  "wasmtime-environ",
 ]
@@ -4128,9 +4153,9 @@ dependencies = [
 
 [[package]]
 name = "wit-parser"
-version = "0.209.1"
+version = "0.212.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3e79b9e3c0b6bb589dec46317e645851e0db2734c44e2be5e251b03ff4a51269"
+checksum = "ceeb0424aa8679f3fcf2d6e3cfa381f3d6fa6179976a2c05a6249dd2bb426716"
 dependencies = [
  "anyhow",
  "id-arena",
@@ -4141,7 +4166,7 @@ dependencies = [
  "serde_derive",
  "serde_json",
  "unicode-xid",
- "wasmparser 0.209.1",
+ "wasmparser 0.212.0",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index 5c670a7fe..0b3e873e1 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -60,8 +60,8 @@ serde_json = { version = "1.0.120" }
 tonic = { version = "0.12.0", default-features = false }
 tonic-build = "0.12.0"
 tonic-web = "0.12.0"
-wasmtime = "22.0.0"
-wasmtime-wasi = "22.0.0"
+wasmtime = "23.0.0"
+wasmtime-wasi = "23.0.0"
 async-trait = "0.1.80"
 log = { version = "0.4.21", features = ["kv"] }
 log4rs = "1.3.0"
diff --git a/pulumi_wasm_runner/src/pulumi.rs b/pulumi_wasm_runner/src/pulumi.rs
index bc5dbc9e4..a5a6cc2f1 100644
--- a/pulumi_wasm_runner/src/pulumi.rs
+++ b/pulumi_wasm_runner/src/pulumi.rs
@@ -21,7 +21,6 @@ use pulumi_wasm_wit::bindings_server as server;
 
 pub struct Pulumi {
     plugin: Main,
-    _instance: Instance,
     store: Store<SimplePluginCtx>,
 }
 
@@ -227,13 +226,9 @@ impl Pulumi {
         );
 
         let component = Component::from_binary(&engine, &pulumi_wasm_file)?;
-        let (plugin, instance) = Main::instantiate_async(&mut store, &component, &linker).await?;
+        let plugin = Main::instantiate_async(&mut store, &component, &linker).await?;
 
-        Ok(Pulumi {
-            plugin,
-            _instance: instance,
-            store,
-        })
+        Ok(Pulumi { plugin, store })
     }
 
     pub fn compile(pulumi_wasm_file: &str) -> Result<Vec<u8>, Error> {