diff --git a/.yarn/cache/webpack-npm-5.94.0-d1e43de389-648449c5fb.zip b/.yarn/cache/webpack-npm-5.94.0-d1e43de389-648449c5fb.zip
new file mode 100644
index 00000000000..441f0ab80bd
Binary files /dev/null and b/.yarn/cache/webpack-npm-5.94.0-d1e43de389-648449c5fb.zip differ
diff --git a/packages/carbon-web-components/package.json b/packages/carbon-web-components/package.json
index 448b4c64a38..246523c6aea 100644
--- a/packages/carbon-web-components/package.json
+++ b/packages/carbon-web-components/package.json
@@ -206,7 +206,7 @@
     "typescript": "^5.2.2",
     "use-debounce": "^3.2.0",
     "web-component-analyzer": "1.2.0-next.0",
-    "webpack": "^4.46.0",
+    "webpack": "^5.94.0",
     "webpack-dev-server": "^4.0.0",
     "zone.js": "~0.15.0"
   },
diff --git a/packages/web-components/package.json b/packages/web-components/package.json
index 0d7f744e396..5bc9ef36a97 100644
--- a/packages/web-components/package.json
+++ b/packages/web-components/package.json
@@ -239,6 +239,6 @@
     "typescript": "^5.2.2",
     "url-loader": "^4.1.1",
     "web-component-analyzer": "1.2.0-next.0",
-    "webpack": "^4.46.0"
+    "webpack": "^5.94.0"
   }
 }
diff --git a/yarn.lock b/yarn.lock
index 3e779657086..ba742176f34 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3626,7 +3626,7 @@ __metadata:
     typescript: "npm:^5.2.2"
     url-loader: "npm:^4.1.1"
     web-component-analyzer: "npm:1.2.0-next.0"
-    webpack: "npm:^4.46.0"
+    webpack: "npm:^5.94.0"
     window-or-global: "npm:^1.0.1"
   dependenciesMeta:
     "@carbon/icons-react":
@@ -3961,7 +3961,7 @@ __metadata:
     typescript: "npm:^5.2.2"
     use-debounce: "npm:^3.2.0"
     web-component-analyzer: "npm:1.2.0-next.0"
-    webpack: "npm:^4.46.0"
+    webpack: "npm:^5.94.0"
     webpack-dev-server: "npm:^4.0.0"
     zone.js: "npm:~0.15.0"
   languageName: unknown
@@ -15765,7 +15765,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"enhanced-resolve@npm:^5.17.0":
+"enhanced-resolve@npm:^5.17.0, enhanced-resolve@npm:^5.17.1":
   version: 5.17.1
   resolution: "enhanced-resolve@npm:5.17.1"
   dependencies:
@@ -36189,7 +36189,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"webpack@npm:4, webpack@npm:^4.46.0":
+"webpack@npm:4":
   version: 4.47.0
   resolution: "webpack@npm:4.47.0"
   dependencies:
@@ -36264,6 +36264,42 @@ __metadata:
   languageName: node
   linkType: hard
 
+"webpack@npm:^5.94.0":
+  version: 5.94.0
+  resolution: "webpack@npm:5.94.0"
+  dependencies:
+    "@types/estree": "npm:^1.0.5"
+    "@webassemblyjs/ast": "npm:^1.12.1"
+    "@webassemblyjs/wasm-edit": "npm:^1.12.1"
+    "@webassemblyjs/wasm-parser": "npm:^1.12.1"
+    acorn: "npm:^8.7.1"
+    acorn-import-attributes: "npm:^1.9.5"
+    browserslist: "npm:^4.21.10"
+    chrome-trace-event: "npm:^1.0.2"
+    enhanced-resolve: "npm:^5.17.1"
+    es-module-lexer: "npm:^1.2.1"
+    eslint-scope: "npm:5.1.1"
+    events: "npm:^3.2.0"
+    glob-to-regexp: "npm:^0.4.1"
+    graceful-fs: "npm:^4.2.11"
+    json-parse-even-better-errors: "npm:^2.3.1"
+    loader-runner: "npm:^4.2.0"
+    mime-types: "npm:^2.1.27"
+    neo-async: "npm:^2.6.2"
+    schema-utils: "npm:^3.2.0"
+    tapable: "npm:^2.1.1"
+    terser-webpack-plugin: "npm:^5.3.10"
+    watchpack: "npm:^2.4.1"
+    webpack-sources: "npm:^3.2.3"
+  peerDependenciesMeta:
+    webpack-cli:
+      optional: true
+  bin:
+    webpack: bin/webpack.js
+  checksum: 10/648449c5fbbb0839814116e3b2b044ac6c75a7ba272435155ddeb1e64dfaa2f8079be3adfbb691f648b69900756ce0f6fb73beab0ced3cf5e0fd46868b4593a6
+  languageName: node
+  linkType: hard
+
 "websocket-driver@npm:>=0.5.1, websocket-driver@npm:^0.7.4":
   version: 0.7.4
   resolution: "websocket-driver@npm:0.7.4"