diff --git a/project/deps/package.mill.scala b/project/deps/package.mill.scala
index 1e2013d96d..7141493401 100644
--- a/project/deps/package.mill.scala
+++ b/project/deps/package.mill.scala
@@ -21,8 +21,8 @@ object Scala {
   def scala3Next          = s"$scala3NextPrefix.4" // the newest/next version of Scala
   def scala3NextAnnounced =
     s"$scala3NextPrefix.3" // the newest/next version of Scala that's been announced
-  def scala3NextRc        = "3.8.0-RC4"            // the latest RC version of Scala Next
-  def scala3NextRcAnnounced = "3.7.4-RC3" // the latest announced RC version of Scala Next
+  def scala3NextRc        = "3.8.0-RC5"            // the latest RC version of Scala Next
+  def scala3NextRcAnnounced = "3.8.0-RC4" // the latest announced RC version of Scala Next
 
   // The Scala version used to build the CLI itself.
   def defaultInternal = sys.props.get("scala.version.internal").getOrElse(scala3Lts)