diff --git a/meta-balena-rust/conf/distro/include/balena-os-rust-version.inc b/meta-balena-rust/conf/distro/include/balena-os-rust-version.inc
index 6c34165fe6..59c25e0ec8 100644
--- a/meta-balena-rust/conf/distro/include/balena-os-rust-version.inc
+++ b/meta-balena-rust/conf/distro/include/balena-os-rust-version.inc
@@ -1,7 +1,10 @@
-PREFERRED_VERSION_rust = "1.62.0"
-PREFERRED_VERSION_rust-native = "1.62.0"
-PREFERRED_VERSION_rust-cross-${TARGET_ARCH} = "1.62.0"
-PREFERRED_VERSION_rust-llvm-native = "1.62.0"
-PREFERRED_VERSION_cargo-native = "1.62.0"
-PREFERRED_VERSION_libstd-rs = "1.62.0"
+RUST_VERSION ?= "1.73.0"
 
+PREFERRED_VERSION_cargo ?= "${RUST_VERSION}"
+PREFERRED_VERSION_cargo-native ?= "${RUST_VERSION}"
+PREFERRED_VERSION_libstd-rs ?= "${RUST_VERSION}"
+PREFERRED_VERSION_rust ?= "${RUST_VERSION}"
+PREFERRED_VERSION_rust-cross-${TARGET_ARCH} ?= "${RUST_VERSION}"
+PREFERRED_VERSION_rust-llvm ?= "${RUST_VERSION}"
+PREFERRED_VERSION_rust-llvm-native ?= "${RUST_VERSION}"
+PREFERRED_VERSION_rust-native ?= "${RUST_VERSION}"
diff --git a/meta-balena-rust/recipes-devtools/cargo/cargo-cross-canadian_1.62.0.bb b/meta-balena-rust/recipes-devtools/cargo/cargo-cross-canadian_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/cargo/cargo-cross-canadian_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/cargo/cargo-cross-canadian_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/cargo/cargo_1.62.0.bb b/meta-balena-rust/recipes-devtools/cargo/cargo_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/cargo/cargo_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/cargo/cargo_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/rust/libstd-rs.inc b/meta-balena-rust/recipes-devtools/rust/libstd-rs.inc
index 987956344a..db2a4d68f7 100644
--- a/meta-balena-rust/recipes-devtools/rust/libstd-rs.inc
+++ b/meta-balena-rust/recipes-devtools/rust/libstd-rs.inc
@@ -2,7 +2,6 @@ SUMMARY = "Rust standard libaries"
 HOMEPAGE = "http://www.rust-lang.org"
 SECTION = "devel"
 LICENSE = "MIT | Apache-2.0"
-LIC_FILES_CHKSUM = "file://../../COPYRIGHT;md5=93a95682d51b4cb0a633a97046940ef0"
 
 RUSTLIB_DEP = ""
 inherit cargo
diff --git a/meta-balena-rust/recipes-devtools/rust/libstd-rs_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/libstd-rs_1.73.0.bb
similarity index 66%
rename from meta-balena-rust/recipes-devtools/rust/libstd-rs_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/libstd-rs_1.73.0.bb
index eec0245ae1..4a5533740b 100644
--- a/meta-balena-rust/recipes-devtools/rust/libstd-rs_1.62.0.bb
+++ b/meta-balena-rust/recipes-devtools/rust/libstd-rs_1.73.0.bb
@@ -1,6 +1,8 @@
 require rust-source.inc
 require libstd-rs.inc
 
+LIC_FILES_CHKSUM = "file://../../COPYRIGHT;md5=c2cccf560306876da3913d79062a54b9"
+
 # libstd moved from src/libstd to library/std in 1.47+
 S = "${RUSTSRC}/library/std"
 
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-common.inc b/meta-balena-rust/recipes-devtools/rust/rust-common.inc
index dffebd006e..37b402e2ae 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-common.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust-common.inc
@@ -24,9 +24,6 @@ def llvm_features_from_tune(d):
     if 'vfpv2' in feat or 'vfp' in feat:
         f.append("+vfp2")
 
-    if 'neon' in feat:
-        f.append("+neon")
-
     if 'mips32' in feat:
         f.append("+mips32")
 
@@ -36,6 +33,11 @@ def llvm_features_from_tune(d):
     if target_is_armv7(d):
         f.append('+v7')
 
+    if 'neon' in feat:
+        f.append("+neon")
+    else:
+        f.append("-neon")
+
     if ('armv6' in mach_overrides) or ('armv6' in feat):
         f.append("+v6")
     if 'armv5te' in feat:
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian-common.inc b/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian-common.inc
index 1f21c8af26..2b33b6a1d5 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian-common.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian-common.inc
@@ -27,9 +27,23 @@ DEBUG_PREFIX_MAP = "-fdebug-prefix-map=${WORKDIR}=/usr/src/debug/${PN}/${EXTENDP
 
 python do_rust_gen_targets () {
     wd = d.getVar('WORKDIR') + '/targets/'
-    rust_gen_target(d, 'TARGET', wd, d.getVar('TARGET_LLVM_FEATURES') or "", d.getVar('TARGET_LLVM_CPU'), d.getVar('TARGET_ARCH'))
-    rust_gen_target(d, 'HOST', wd, "", "generic", d.getVar('HOST_ARCH'))
-    rust_gen_target(d, 'BUILD', wd, "", "generic", d.getVar('BUILD_ARCH'))
+    # It is important 'TARGET' is last here so that it overrides our less
+    # informed choices for BUILD & HOST if TARGET happens to be the same as
+    # either of them.
+    for thing in ['BUILD', 'HOST', 'TARGET']:
+        bb.debug(1, "rust_gen_target for " + thing)
+        features = ""
+        cpu = "generic"
+        arch = d.getVar('{}_ARCH'.format(thing))
+        abi = ""
+        if thing is "TARGET":
+            abi = d.getVar('ABIEXTENSION')
+            # arm and armv7 have different targets in llvm
+            if arch == "arm" and target_is_armv7(d):
+                arch = 'armv7'
+            features = d.getVar('TARGET_LLVM_FEATURES') or ""
+            cpu = d.getVar('TARGET_LLVM_CPU')
+        rust_gen_target(d, thing, wd, features, cpu, arch, abi)
 }
 
 INHIBIT_DEFAULT_RUST_DEPS = "1"
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust-cross-canadian_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/rust/rust-cross-canadian_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust-cross-canadian_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-cross_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust-cross_1.73.0.bb
similarity index 59%
rename from meta-balena-rust/recipes-devtools/rust/rust-cross_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust-cross_1.73.0.bb
index 5358d98da8..95e478a122 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-cross_1.62.0.bb
+++ b/meta-balena-rust/recipes-devtools/rust/rust-cross_1.73.0.bb
@@ -6,3 +6,7 @@ require rust-source.inc
 DEPENDS += "virtual/${TARGET_PREFIX}gcc virtual/${TARGET_PREFIX}compilerlibs virtual/libc"
 PROVIDES = "virtual/${TARGET_PREFIX}rust"
 PN = "rust-cross-${TUNE_PKGARCH}-${TCLIBC}"
+
+# License file checksum needed for do_populate_lic when including a
+# Rust app in an image.
+LIC_FILES_CHKSUM="file://LICENSE-APACHE;md5=22a53954e4e0ec258dfce4391e905dac"
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-crosssdk_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust-crosssdk_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/rust/rust-crosssdk_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust-crosssdk_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-llvm.inc b/meta-balena-rust/recipes-devtools/rust/rust-llvm.inc
index 9baad12dc8..ca61e0a87d 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-llvm.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust-llvm.inc
@@ -30,6 +30,7 @@ EXTRA_OECMAKE = " \
     -DLLVM_BUILD_DOCS=OFF \
     -DLLVM_ENABLE_TERMINFO=OFF \
     -DLLVM_ENABLE_ZLIB=OFF \
+    -DLLVM_ENABLE_ZSTD=OFF \
     -DLLVM_ENABLE_LIBXML2=OFF \
     -DLLVM_ENABLE_FFI=OFF \
     -DLLVM_INSTALL_UTILS=ON \
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-llvm_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust-llvm_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/rust/rust-llvm_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust-llvm_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-snapshot.inc b/meta-balena-rust/recipes-devtools/rust/rust-snapshot.inc
index 3bd7b07cef..82da0bca87 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-snapshot.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust-snapshot.inc
@@ -1,25 +1,25 @@
 ## This is information on the rust-snapshot (binary) used to build our current release.
-## snapshot info is taken from rust/src/stage0.txt
+## snapshot info is taken from rust/src/stage0.json
 ## Rust is self-hosting and bootstraps itself with a pre-built previous version of itself.
 ## The exact (previous) version that has been used is specified in the source tarball.
 ## The version is replicated here.
 ## TODO: find a way to add additional SRC_URIs based on the contents of an
 ##       earlier SRC_URI.
-RS_VERSION = "1.61.0"
-CARGO_VERSION = "1.61.0"
+
+SNAPSHOT_VERSION = "1.72.0"
 
 # TODO: Add hashes for other architecture toolchains as well. Make a script?
-SRC_URI[rust-std-snapshot-x86_64.sha256sum] = "270b07aa5f2de52255a117e1e587138d77375ce0d09a1d7fead085f29b3977e9"
-SRC_URI[rustc-snapshot-x86_64.sha256sum] = "21c4613f389ed130fbaaf88f1e984319f72b5fc10734569a5ba19e22ebb03abd"
-SRC_URI[cargo-snapshot-x86_64.sha256sum] = "9461727d754f865ef2a87479d40bbe4c5176f80963b7c50b7797bc8940d7a0a0"
+SRC_URI[rust-std-snapshot-x86_64.sha256sum] = "36f27513a6e4381f15b0cd14097c885af537f990cb6193cec3337c429367bf23"
+SRC_URI[rustc-snapshot-x86_64.sha256sum] = "5b5d7854a0d73368f15146c1aa47e4dbccf12762c93282f410a09a605929ce09"
+SRC_URI[cargo-snapshot-x86_64.sha256sum] = "4a401dfe7b3056dc0d42acbcd380b2b90f936577706ca74ef5327af0f5abd0a0"
 
-SRC_URI[rust-std-snapshot-aarch64.sha256sum] = "57d60a519dbce12146849f7e72d55f3cffe9cdcbff8d58e90bb62d3c016bb5c0"
-SRC_URI[rustc-snapshot-aarch64.sha256sum] = "c996de6391e3ea94629fbc09b03bce186fcde345159f43ec95a82c500adb5e94"
-SRC_URI[cargo-snapshot-aarch64.sha256sum] = "a055e6cfd9b5f8938780db6179d2ef92990c714ce64278337d7edf3d29c8ab62"
+SRC_URI[rust-std-snapshot-aarch64.sha256sum] = "41d259c6f84280fd0e7719fea03a7583ba54e33e8ac32a2a7b703ffb0aebb7d9"
+SRC_URI[rustc-snapshot-aarch64.sha256sum] = "1948a80453956d494457dcced1942e2e204fb26d4e57e718ef1c7aa378efbedb"
+SRC_URI[cargo-snapshot-aarch64.sha256sum] = "95741a4cd2073adbd74a7c5596bb912abf4b2dfe00d70a9919cba4a836b7a0ff"
 
-SRC_URI[rust-std-snapshot-powerpc64le.sha256sum] = "36c0ccff14c80419507561db050f9533f0abd43fc50f3ddb859c10df74b1c351"
-SRC_URI[rustc-snapshot-powerpc64le.sha256sum] = "dc54893d747e4f3330515caa75e404f78c6c5475a1216d1428f5e7ce1c2e9602"
-SRC_URI[cargo-snapshot-powerpc64le.sha256sum] = "09817011ff1ef4b7006387c7cabb6a059731792a9372533dec7d87e7f014444b"
+SRC_URI[rust-std-snapshot-powerpc64le.sha256sum] = "b6ef684ebf77063dbc1ff0abfe1316651fa73bbb95b023255b301b415867ff8b"
+SRC_URI[rustc-snapshot-powerpc64le.sha256sum] = "20ed9ec0599e6582a218dae544566ddf7e2af46341705f35de874c90d7eecc0c"
+SRC_URI[cargo-snapshot-powerpc64le.sha256sum] = "f659bf3ab70c376c736b7d7112d1fcee32a56dbfa66f6ef4fc039652f66c99e7"
 
 SRC_URI += " \
     https://static.rust-lang.org/dist/${RUST_STD_SNAPSHOT}.tar.xz;name=rust-std-snapshot-${RUST_BUILD_ARCH};subdir=rust-snapshot-components \
@@ -27,6 +27,6 @@ SRC_URI += " \
     https://static.rust-lang.org/dist/${CARGO_SNAPSHOT}.tar.xz;name=cargo-snapshot-${RUST_BUILD_ARCH};subdir=rust-snapshot-components \
 "
 
-RUST_STD_SNAPSHOT = "rust-std-${RS_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
-RUSTC_SNAPSHOT = "rustc-${RS_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
-CARGO_SNAPSHOT = "cargo-${CARGO_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
+RUST_STD_SNAPSHOT = "rust-std-${SNAPSHOT_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
+RUSTC_SNAPSHOT = "rustc-${SNAPSHOT_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
+CARGO_SNAPSHOT = "cargo-${SNAPSHOT_VERSION}-${RUST_BUILD_ARCH}-unknown-linux-gnu"
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-source.inc b/meta-balena-rust/recipes-devtools/rust/rust-source.inc
index fda26534e8..fb304ac229 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust-source.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust-source.inc
@@ -1,5 +1,5 @@
 SRC_URI += "https://static.rust-lang.org/dist/rustc-${PV}-src.tar.xz;name=rust"
-SRC_URI[rust.sha256sum] = "6c00ef115c894c2645e60b5049a4f5dacf1dc0c993f3074f7ae4fdf4c755dd5e"
+SRC_URI[rust.sha256sum] = "6eaf672dbea2e6596af8c999f5e6924b9af4bb8b02166bfe0b928e68aa75ae62"
 
 RUSTSRC = "${WORKDIR}/rustc-${PV}-src"
 
diff --git a/meta-balena-rust/recipes-devtools/rust/rust-tools-cross-canadian_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust-tools-cross-canadian_1.73.0.bb
similarity index 100%
rename from meta-balena-rust/recipes-devtools/rust/rust-tools-cross-canadian_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust-tools-cross-canadian_1.73.0.bb
diff --git a/meta-balena-rust/recipes-devtools/rust/rust.inc b/meta-balena-rust/recipes-devtools/rust/rust.inc
index 262e5b6d26..01c046911b 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust.inc
+++ b/meta-balena-rust/recipes-devtools/rust/rust.inc
@@ -2,7 +2,6 @@ SUMMARY = "Rust compiler and runtime libaries"
 HOMEPAGE = "http://www.rust-lang.org"
 SECTION = "devel"
 LICENSE = "MIT | Apache-2.0"
-LIC_FILES_CHKSUM = "file://COPYRIGHT;md5=93a95682d51b4cb0a633a97046940ef0"
 
 inherit rust
 inherit cargo_common
@@ -139,6 +138,12 @@ python do_configure() {
     # nothing about when trying to build some stage0 tools (like fabricate)
     config.set("build", "build", e(d.getVar("SNAPSHOT_BUILD_SYS", True)))
 
+    # Explicitly disable all tools.
+    # This is done because some tools (e.g. rust-analyzer-proc-macro-srv)
+    # require the build.build target to be included in build.target which we
+    # don't want to do.
+    config.set("build", "tools", e([]))
+
     # [install]
     config.add_section("install")
     # ./x.py install doesn't have any notion of "destdir"
diff --git a/meta-balena-rust/recipes-devtools/rust/rust_1.62.0.bb b/meta-balena-rust/recipes-devtools/rust/rust_1.73.0.bb
similarity index 84%
rename from meta-balena-rust/recipes-devtools/rust/rust_1.62.0.bb
rename to meta-balena-rust/recipes-devtools/rust/rust_1.73.0.bb
index b505ad46ca..ca13790c86 100644
--- a/meta-balena-rust/recipes-devtools/rust/rust_1.62.0.bb
+++ b/meta-balena-rust/recipes-devtools/rust/rust_1.73.0.bb
@@ -2,6 +2,8 @@ require rust-target.inc
 require rust-source.inc
 require rust-snapshot.inc
 
+LIC_FILES_CHKSUM = "file://COPYRIGHT;md5=c2cccf560306876da3913d79062a54b9"
+
 INSANE_SKIP:${PN}:class-native = "already-stripped"
 
 do_compile () {