diff --git a/cmake/zephyr/Kconfig b/cmake/zephyr/Kconfig
index 37675d7c..8fa38372 100644
--- a/cmake/zephyr/Kconfig
+++ b/cmake/zephyr/Kconfig
@@ -22,3 +22,7 @@ config PICOLIBC_DEFAULT
 	depends on "$(ZEPHYR_TOOLCHAIN_VARIANT)" = "zephyr"
 	help
 	  Zephyr SDK >=0.17.1 always uses Picolibc
+
+choice COMPILER_OPTIMIZATIONS
+	default SPEED_OPTIMIZATIONS if "$(ZEPHYR_TOOLCHAIN_VARIANT)" = "zephyr" && CPP_EXCEPTIONS
+endchoice
diff --git a/configs/arc-zephyr-elf.config b/configs/arc-zephyr-elf.config
index ecd61eed..8fd001fa 100644
--- a/configs/arc-zephyr-elf.config
+++ b/configs/arc-zephyr-elf.config
@@ -4,4 +4,3 @@ CT_ARCH_ARC=y
 CT_TARGET_VENDOR="zephyr"
 CT_TARGET_CFLAGS="-mno-sdata -mtp-regno=26 -ftls-model=local-exec"
 CT_MULTILIB=y
-CT_MULTILIB_SPACE=y
diff --git a/configs/arm-zephyr-eabi.config b/configs/arm-zephyr-eabi.config
index 6da478d9..cc8ccba4 100644
--- a/configs/arm-zephyr-eabi.config
+++ b/configs/arm-zephyr-eabi.config
@@ -5,6 +5,5 @@ CT_ARCH_ARM_INTERWORKING=y
 CT_TARGET_VENDOR="zephyr"
 CT_TARGET_CFLAGS="-ftls-model=local-exec"
 CT_MULTILIB=y
-CT_MULTILIB_SPACE=y
 CT_CC_GCC_MULTILIB_LIST="rmprofile"
 CT_LIBC_NEWLIB_NANO_TARGET_CFLAGS="-mthumb-interwork"
diff --git a/configs/common.config b/configs/common.config
index bccba365..5ce42746 100644
--- a/configs/common.config
+++ b/configs/common.config
@@ -1,7 +1,5 @@
 # Common crosstool-ng configurations for all toolchain variants
 
-CT_STRIP_TARGET_TOOLCHAIN_LIBRARIES=n
-
 # Ncurses
 CT_NCURSES_HOST_FALLBACKS="linux,xterm,xterm-color,xterm-256color,vt100,screen,screen-256color,tmux,tmux-256color"
 
@@ -21,6 +19,7 @@ CT_GCC_CUSTOM_LOCATION="${GITHUB_WORKSPACE}/gcc"
 CT_CC_GCC_EXTRA_CONFIG_ARRAY="--with-gnu-ld --with-gnu-as --enable-initfini-array"
 CT_CC_GCC_CORE_EXTRA_CONFIG_ARRAY="--with-gnu-ld --with-gnu-as --enable-initfini-array"
 CT_CC_LANG_CXX=y
+CT_MULTILIB_SPACE=y
 
 # Picolibc
 CT_LIBC_PICOLIBC=y
diff --git a/crosstool-ng b/crosstool-ng
index 53da3623..787dd4c9 160000
--- a/crosstool-ng
+++ b/crosstool-ng
@@ -1 +1 @@
-Subproject commit 53da3623f05d254d6f34ae2a349734479984fc5c
+Subproject commit 787dd4c9fda66eaddcc7dabe93cc48ebfa40090f
diff --git a/gcc b/gcc
index 60300551..c3463d89 160000
--- a/gcc
+++ b/gcc
@@ -1 +1 @@
-Subproject commit 6030055143f09163c9e0b9232f3abf7ea95ba4e3
+Subproject commit c3463d89bbb1f812bf3e9c775c51245fde4b747b
diff --git a/gcc_arc b/gcc_arc
index f385c5c9..8a12fbb9 160000
--- a/gcc_arc
+++ b/gcc_arc
@@ -1 +1 @@
-Subproject commit f385c5c9a1ff090b896dc604238ea198e12fef46
+Subproject commit 8a12fbb9800d3d38cbc723a4fa3517786b3c5fa8
diff --git a/picolibc b/picolibc
index c7cc2483..560946f2 160000
--- a/picolibc
+++ b/picolibc
@@ -1 +1 @@
-Subproject commit c7cc2483d591784bb2707f72b0784d92074f5347
+Subproject commit 560946f26db075c296beea5b39d99e6de43c9010