diff --git a/rust-toolchain b/rust-toolchain
index 8350116001e..f2761de2678 100644
--- a/rust-toolchain
+++ b/rust-toolchain
@@ -1 +1 @@
-nightly-2022-08-01
+nightly-2023-08-23
diff --git a/src/Qir/Runtime/prerequisites.ps1 b/src/Qir/Runtime/prerequisites.ps1
index 3e6cfcae2d3..a1df5f628f7 100644
--- a/src/Qir/Runtime/prerequisites.ps1
+++ b/src/Qir/Runtime/prerequisites.ps1
@@ -78,9 +78,9 @@ if ($Env:ENABLE_QIRRUNTIME -ne "false") {
     # rustfmt and clippy is available.
     rustup install nightly
     rustup toolchain install nightly
-    rustup toolchain install nightly-2022-08-01
+    rustup toolchain install nightly-2023-08-23
     rustup component add rustfmt clippy llvm-tools-preview
     rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly
-    rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly-2022-08-01
+    rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly-2023-08-23
     }
 
diff --git a/src/Simulation/qdk_sim_rs/prerequisites.ps1 b/src/Simulation/qdk_sim_rs/prerequisites.ps1
index 806c2840741..5c6e66cbf37 100644
--- a/src/Simulation/qdk_sim_rs/prerequisites.ps1
+++ b/src/Simulation/qdk_sim_rs/prerequisites.ps1
@@ -22,7 +22,7 @@ if (-not (Get-Command rustup -ErrorAction SilentlyContinue)) {
 # rustfmt and clippy is available.
 rustup install nightly
 rustup toolchain install nightly
-rustup toolchain install nightly-2022-08-01
+rustup toolchain install nightly-2023-08-23
 rustup component add rustfmt clippy llvm-tools-preview
 rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly
-rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly-2022-08-01
+rustup component add rustfmt clippy llvm-tools-preview --toolchain nightly-2023-08-23