diff --git a/.ruby-version b/.ruby-version
new file mode 100644
index 000000000..944880fa1
--- /dev/null
+++ b/.ruby-version
@@ -0,0 +1 @@
+3.2.0
diff --git a/Gemfile.lock b/Gemfile.lock
index 8359e0993..f748fc29a 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -7,7 +7,7 @@ GEM
   remote: https://rubygems.org/
   specs:
     diff-lcs (1.4.4)
-    fakefs (1.3.2)
+    fakefs (2.0.0)
     little-plugger (1.1.4)
     logging (2.3.0)
       little-plugger (~> 1.1)
@@ -48,4 +48,4 @@ DEPENDENCIES
   timecop
 
 BUNDLED WITH
-   2.2.22
+   2.4.4
diff --git a/bosh-stemcell/lib/bosh/stemcell/archive.rb b/bosh-stemcell/lib/bosh/stemcell/archive.rb
index 0f79b1f9f..4253da89c 100644
--- a/bosh-stemcell/lib/bosh/stemcell/archive.rb
+++ b/bosh-stemcell/lib/bosh/stemcell/archive.rb
@@ -59,7 +59,7 @@ def cloud_properties
     end
 
     def validate_stemcell
-      raise "Cannot find file '#{path}'" unless File.exists?(path)
+      raise "Cannot find file '#{path}'" unless File.exist?(path)
     end
   end
 end
diff --git a/bosh-stemcell/lib/bosh/stemcell/stage_runner.rb b/bosh-stemcell/lib/bosh/stemcell/stage_runner.rb
index a58869adc..056d2cb10 100644
--- a/bosh-stemcell/lib/bosh/stemcell/stage_runner.rb
+++ b/bosh-stemcell/lib/bosh/stemcell/stage_runner.rb
@@ -55,7 +55,7 @@ def configure(stages)
         stage_config_script = File.join(build_path, 'stages', stage.to_s, 'config.sh')
 
         @report.measure_configure(stage) do
-          if File.exists?(stage_config_script) && File.executable?(stage_config_script)
+          if File.exist?(stage_config_script) && File.executable?(stage_config_script)
             run_sudo_with_command_env("#{stage_config_script} #{settings_file}")
           end
         end
diff --git a/bosh-stemcell/spec/bosh/stemcell/build_environment_spec.rb b/bosh-stemcell/spec/bosh/stemcell/build_environment_spec.rb
index 7bc70d718..53faa56ab 100644
--- a/bosh-stemcell/spec/bosh/stemcell/build_environment_spec.rb
+++ b/bosh-stemcell/spec/bosh/stemcell/build_environment_spec.rb
@@ -107,7 +107,7 @@ module Bosh::Stemcell
 
         subject.prepare_build
 
-        expect(Dir.exists?(build_path)).to be(true)
+        expect(Dir.exist?(build_path)).to be(true)
         expect(File.read(settings_file)).to match(/some=var/)
         expect(File.read(settings_file)).to match(/hello=world/)
       end
@@ -132,13 +132,13 @@ module Bosh::Stemcell
       it 'creates the work root' do
         expect {
           subject.prepare_build
-        }.to change { Dir.exists?(work_root) }.from(false).to(true)
+        }.to change { Dir.exist?(work_root) }.from(false).to(true)
       end
 
       it 'creates the stemcell path' do
         expect {
           subject.prepare_build
-        }.to change { Dir.exists?(File.join(root_dir, 'work/work/stemcell')) }.from(false).to(true)
+        }.to change { Dir.exist?(File.join(root_dir, 'work/work/stemcell')) }.from(false).to(true)
       end
 
       context 'when resume_from is set' do
@@ -157,7 +157,7 @@ module Bosh::Stemcell
 
           subject.prepare_build
 
-          expect(Dir.exists?(build_path)).to be(true)
+          expect(Dir.exist?(build_path)).to be(true)
         end
 
         it 'does not run prepare_build_path' do
@@ -165,7 +165,7 @@ module Bosh::Stemcell
           FileUtils.touch(leftover_file)
 
           subject.prepare_build
-          expect(File.exists?(leftover_file)).to be(true)
+          expect(File.exist?(leftover_file)).to be(true)
         end
 
         it 'still updates the settings file' do
diff --git a/vendor/cache/fakefs-1.3.2.gem b/vendor/cache/fakefs-1.3.2.gem
deleted file mode 100644
index daa9df212..000000000
Binary files a/vendor/cache/fakefs-1.3.2.gem and /dev/null differ
diff --git a/vendor/cache/fakefs-2.0.0.gem b/vendor/cache/fakefs-2.0.0.gem
new file mode 100644
index 000000000..ec66c4ca2
Binary files /dev/null and b/vendor/cache/fakefs-2.0.0.gem differ