diff --git a/Cargo.lock b/Cargo.lock
index 38aaea14d..18651968c 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -85,9 +85,9 @@ dependencies = [
 
 [[package]]
 name = "anyhow"
-version = "1.0.87"
+version = "1.0.94"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "10f00e1f6e58a40e807377c75c6a7f97bf9044fab57816f2414e6f5f4499d7b8"
+checksum = "c1fd03a028ef38ba2276dce7e33fcd6369c158a1bca17946c4b1b701891c1ff7"
 
 [[package]]
 name = "api_client"
diff --git a/Cargo.toml b/Cargo.toml
index 404a254d8..da9baa9e6 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -29,7 +29,7 @@ inherits = "release"
 strip = false
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 api_client = { path = "api_client" }
 clap = { version = "4.5.13", features = ["string"] }
 dhat = { version = "0.3.3", optional = true }
diff --git a/arch/Cargo.toml b/arch/Cargo.toml
index 4c4a727a5..669f1510e 100644
--- a/arch/Cargo.toml
+++ b/arch/Cargo.toml
@@ -11,7 +11,7 @@ sev_snp = []
 tdx = []
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 byteorder = "1.5.0"
 hypervisor = { path = "../hypervisor" }
 libc = "0.2.167"
diff --git a/devices/Cargo.toml b/devices/Cargo.toml
index ed9a0ae9a..c1de9cc27 100644
--- a/devices/Cargo.toml
+++ b/devices/Cargo.toml
@@ -6,7 +6,7 @@ version = "0.1.0"
 
 [dependencies]
 acpi_tables = { workspace = true }
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 arch = { path = "../arch" }
 bitflags = "2.6.0"
 byteorder = "1.5.0"
diff --git a/hypervisor/Cargo.toml b/hypervisor/Cargo.toml
index 8f457a14f..0d14ae5bf 100644
--- a/hypervisor/Cargo.toml
+++ b/hypervisor/Cargo.toml
@@ -12,7 +12,7 @@ sev_snp = ["igvm", "igvm_defs"]
 tdx = []
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 byteorder = "1.5.0"
 cfg-if = "1.0.0"
 concat-idents = "1.1.5"
diff --git a/pci/Cargo.toml b/pci/Cargo.toml
index bb3d6f7eb..f8b8b3e54 100644
--- a/pci/Cargo.toml
+++ b/pci/Cargo.toml
@@ -10,7 +10,7 @@ kvm = ["vfio-ioctls/kvm"]
 mshv = ["vfio-ioctls/mshv"]
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 byteorder = "1.5.0"
 hypervisor = { path = "../hypervisor" }
 libc = "0.2.167"
diff --git a/virtio-devices/Cargo.toml b/virtio-devices/Cargo.toml
index c313ef5f0..8553d627d 100644
--- a/virtio-devices/Cargo.toml
+++ b/virtio-devices/Cargo.toml
@@ -9,7 +9,7 @@ default = []
 sev_snp = ["mshv-ioctls"]
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 arc-swap = "1.7.1"
 block = { path = "../block" }
 byteorder = "1.5.0"
diff --git a/vm-device/Cargo.toml b/vm-device/Cargo.toml
index a5e2448ea..d0534ba88 100644
--- a/vm-device/Cargo.toml
+++ b/vm-device/Cargo.toml
@@ -10,7 +10,7 @@ kvm = ["vfio-ioctls/kvm"]
 mshv = ["vfio-ioctls/mshv"]
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 hypervisor = { path = "../hypervisor" }
 serde = { version = "1.0.208", features = ["derive", "rc"] }
 thiserror = "1.0.62"
diff --git a/vm-migration/Cargo.toml b/vm-migration/Cargo.toml
index 4fb20c877..f6f1f9dfa 100644
--- a/vm-migration/Cargo.toml
+++ b/vm-migration/Cargo.toml
@@ -5,7 +5,7 @@ name = "vm-migration"
 version = "0.1.0"
 
 [dependencies]
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 serde = { version = "1.0.208", features = ["derive", "rc"] }
 serde_json = "1.0.120"
 thiserror = "1.0.62"
diff --git a/vmm/Cargo.toml b/vmm/Cargo.toml
index 801999237..a13fe9e50 100644
--- a/vmm/Cargo.toml
+++ b/vmm/Cargo.toml
@@ -26,7 +26,7 @@ tracing = ["tracer/tracing"]
 
 [dependencies]
 acpi_tables = { workspace = true }
-anyhow = "1.0.87"
+anyhow = "1.0.94"
 arc-swap = "1.7.1"
 arch = { path = "../arch" }
 bitflags = "2.6.0"