diff --git a/MODULE.bazel b/MODULE.bazel
index ecede32122c0..b663b61d7657 100644
--- a/MODULE.bazel
+++ b/MODULE.bazel
@@ -116,8 +116,8 @@ bazel_dep(name = "zstd", version = "1.5.6", repo_name = "llvm_zstd")
 
 # We pin to specific upstream commits and try to track top-of-tree reasonably
 # closely rather than pinning to a specific release.
-# HEAD as of 2025-02-04.
-llvm_project_version = "724fde34a5e9ae36c687a6bfbd3a50af805a62d6"
+# HEAD as of 2025-03-07.
+llvm_project_version = "94c937d32195693bdcac34260d156b4ea55ca9d6"
 
 # Load a repository for the raw llvm-project, pre-overlay.
 http_archive(
@@ -129,7 +129,7 @@ http_archive(
         "@carbon//bazel/llvm_project:0002_Added_Bazel_build_for_compiler_rt_fuzzer.patch",
         "@carbon//bazel/llvm_project:0003_Comment_out_unloaded_proto_library_dependencies.patch",
     ],
-    sha256 = "5d7095e383b4d518d8079a00986b0452528fd3973c6b34b30024c3d3f68d2953",
+    sha256 = "a39b09e3b1a5b0f48f250f8d4694f26298ebc67567c77d61bad785141a2d3bbe",
     strip_prefix = "llvm-project-{0}".format(llvm_project_version),
     urls = ["https://github.com/llvm/llvm-project/archive/{0}.tar.gz".format(llvm_project_version)],
 )
diff --git a/MODULE.bazel.lock b/MODULE.bazel.lock
index e0d84e7493dd..b2d79a1149c0 100644
--- a/MODULE.bazel.lock
+++ b/MODULE.bazel.lock
@@ -243,7 +243,7 @@
     },
     "//bazel/llvm_project:llvm_project.bzl%llvm_project": {
       "general": {
-        "bzlTransitiveDigest": "awu5+A/1VFbOFMHwkt2jUPmLUYgrfqabMpZ9jBdqtN0=",
+        "bzlTransitiveDigest": "rcy/svHRSqNzj8OWh9jv2HJTFjx48QySkI1dT+UlaTI=",
         "usagesDigest": "uwwVdRj/NhFVoOIaadPP393kgC/Uu3/nTX9ln69oWp4=",
         "recordedFileInputs": {},
         "recordedDirentsInputs": {},
diff --git a/toolchain/codegen/codegen.cpp b/toolchain/codegen/codegen.cpp
index 5696ff2d1e32..905575efb3d8 100644
--- a/toolchain/codegen/codegen.cpp
+++ b/toolchain/codegen/codegen.cpp
@@ -23,7 +23,7 @@ auto CodeGen::Make(llvm::Module& module, llvm::StringRef target_triple,
     errors << "error: invalid target: " << error << "\n";
     return {};
   }
-  module.setTargetTriple(target_triple);
+  module.setTargetTriple(llvm::Triple(target_triple));
 
   constexpr llvm::StringLiteral CPU = "generic";
   constexpr llvm::StringLiteral Features = "";