diff --git a/cmd/otelcorecol/go.mod b/cmd/otelcorecol/go.mod
index 0ec5f4fab62..48edeb53bf5 100644
--- a/cmd/otelcorecol/go.mod
+++ b/cmd/otelcorecol/go.mod
@@ -2,9 +2,7 @@
 
 module go.opentelemetry.io/collector/cmd/otelcorecol
 
-go 1.22.0
-
-toolchain go1.22.10
+go 1.23
 
 require (
 	go.opentelemetry.io/collector/component v0.116.0
@@ -37,6 +35,7 @@ require (
 require (
 	github.com/beorn7/perks v1.0.1 // indirect
 	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/cespare/xxhash/v2 v2.3.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/ebitengine/purego v0.8.1 // indirect
diff --git a/cmd/otelcorecol/go.sum b/cmd/otelcorecol/go.sum
index 65fa8a0c9f5..2ce91a543a0 100644
--- a/cmd/otelcorecol/go.sum
+++ b/cmd/otelcorecol/go.sum
@@ -2,6 +2,8 @@ github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=
 github.com/beorn7/perks v1.0.1/go.mod h1:G2ZrVWU2WbWT9wwq4/hrbKbnv/1ERSJQ0ibhJ6rlkpw=
 github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
 github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/cespare/xxhash/v2 v2.3.0 h1:UL815xU9SqsFlibzuggzjXhog7bL6oX9BbNZnL2UFvs=
 github.com/cespare/xxhash/v2 v2.3.0/go.mod h1:VGX0DQ3Q6kWi7AoAeZDth3/j3BFtOZR5XLFGgcrjCOs=
 github.com/cpuguy83/go-md2man/v2 v2.0.4/go.mod h1:tgQtvFlXSQOSOSIRvRPT7W67SCa46tRHOmNcaadrF8o=
diff --git a/config/configretry/backoff.go b/config/configretry/backoff.go
index 476c350b05f..b3d0a601b67 100644
--- a/config/configretry/backoff.go
+++ b/config/configretry/backoff.go
@@ -7,7 +7,7 @@ import (
 	"errors"
 	"time"
 
-	"github.com/cenkalti/backoff/v4"
+	"github.com/cenkalti/backoff/v5"
 )
 
 // NewDefaultBackOffConfig returns the default settings for RetryConfig.
diff --git a/config/configretry/go.mod b/config/configretry/go.mod
index f9143238d41..04b0814f523 100644
--- a/config/configretry/go.mod
+++ b/config/configretry/go.mod
@@ -1,9 +1,9 @@
 module go.opentelemetry.io/collector/config/configretry
 
-go 1.22.0
+go 1.23
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0
+	github.com/cenkalti/backoff/v5 v5.0.0
 	github.com/stretchr/testify v1.10.0
 	go.uber.org/goleak v1.3.0
 )
diff --git a/config/configretry/go.sum b/config/configretry/go.sum
index 9bb5002231e..b60cb8f8c04 100644
--- a/config/configretry/go.sum
+++ b/config/configretry/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/creack/pty v1.1.9/go.mod h1:oKZEueFk5CKHvIhNR5MUki03XCEU+Q6VDXinZuGJ33E=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/debugexporter/go.mod b/exporter/debugexporter/go.mod
index 7c9c21fd090..b86381931d5 100644
--- a/exporter/debugexporter/go.mod
+++ b/exporter/debugexporter/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/debugexporter
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
@@ -22,7 +22,7 @@ require (
 )
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/go-logr/logr v1.4.2 // indirect
 	github.com/go-logr/stdr v1.2.2 // indirect
diff --git a/exporter/debugexporter/go.sum b/exporter/debugexporter/go.sum
index 390bec10dc4..aba0489e8f1 100644
--- a/exporter/debugexporter/go.sum
+++ b/exporter/debugexporter/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/exporterhelper/internal/queue_sender_test.go b/exporter/exporterhelper/internal/queue_sender_test.go
index 138dc4ebabe..46d1eb52a76 100644
--- a/exporter/exporterhelper/internal/queue_sender_test.go
+++ b/exporter/exporterhelper/internal/queue_sender_test.go
@@ -196,6 +196,10 @@ func TestQueuedRetryHappyPath(t *testing.T) {
 	) {
 		t.Run(testName, func(t *testing.T) {
 			resetFeatureGate := setFeatureGateForTest(t, usePullingBasedExporterQueueBatcher, enableQueueBatcher)
+			t.Cleanup(func() {
+				resetFeatureGate()
+			})
+
 			tel, err := componenttest.SetupTelemetry(defaultID)
 			require.NoError(t, err)
 			t.Cleanup(func() { require.NoError(t, tel.Shutdown(context.Background())) })
@@ -221,7 +225,6 @@ func TestQueuedRetryHappyPath(t *testing.T) {
 			require.NoError(t, be.Start(context.Background(), componenttest.NewNopHost()))
 			t.Cleanup(func() {
 				assert.NoError(t, be.Shutdown(context.Background()))
-				resetFeatureGate()
 			})
 
 			// Wait until all batches received
diff --git a/exporter/exporterhelper/internal/retry_sender.go b/exporter/exporterhelper/internal/retry_sender.go
index db5d96d3fa5..1ffeabebb02 100644
--- a/exporter/exporterhelper/internal/retry_sender.go
+++ b/exporter/exporterhelper/internal/retry_sender.go
@@ -9,7 +9,7 @@ import (
 	"fmt"
 	"time"
 
-	"github.com/cenkalti/backoff/v4"
+	"github.com/cenkalti/backoff/v5"
 	"go.opentelemetry.io/otel/attribute"
 	"go.opentelemetry.io/otel/trace"
 	"go.uber.org/zap"
@@ -65,22 +65,20 @@ func (rs *retrySender) Shutdown(context.Context) error {
 	return nil
 }
 
-// send implements the requestSender interface
+// Send implements the requestSender interface
 func (rs *retrySender) Send(ctx context.Context, req internal.Request) error {
-	// Do not use NewExponentialBackOff since it calls Reset and the code here must
-	// call Reset after changing the InitialInterval (this saves an unnecessary call to Now).
 	expBackoff := backoff.ExponentialBackOff{
 		InitialInterval:     rs.cfg.InitialInterval,
 		RandomizationFactor: rs.cfg.RandomizationFactor,
 		Multiplier:          rs.cfg.Multiplier,
 		MaxInterval:         rs.cfg.MaxInterval,
-		MaxElapsedTime:      rs.cfg.MaxElapsedTime,
-		Stop:                backoff.Stop,
-		Clock:               backoff.SystemClock,
 	}
-	expBackoff.Reset()
 	span := trace.SpanFromContext(ctx)
 	retryNum := int64(0)
+	var maxElapsedTime time.Time
+	if rs.cfg.MaxElapsedTime > 0 {
+		maxElapsedTime = time.Now().Add(rs.cfg.MaxElapsedTime)
+	}
 	for {
 		span.AddEvent(
 			"Sending request.",
@@ -110,7 +108,13 @@ func (rs *retrySender) Send(ctx context.Context, req internal.Request) error {
 			backoffDelay = max(backoffDelay, throttleErr.delay)
 		}
 
-		if deadline, has := ctx.Deadline(); has && time.Until(deadline) < backoffDelay {
+		nextRetryTime := time.Now().Add(backoffDelay)
+		if !maxElapsedTime.IsZero() && maxElapsedTime.Before(nextRetryTime) {
+			// The delay is longer than the maxElapsedTime.
+			return fmt.Errorf("no more retries left: %w", err)
+		}
+
+		if deadline, has := ctx.Deadline(); has && deadline.Before(nextRetryTime) {
 			// The delay is longer than the deadline.  There is no point in
 			// waiting for cancelation.
 			return fmt.Errorf("request will be cancelled before next retry: %w", err)
diff --git a/exporter/exporterhelper/internal/retry_sender_test.go b/exporter/exporterhelper/internal/retry_sender_test.go
index b990d399f28..e6faff04cd6 100644
--- a/exporter/exporterhelper/internal/retry_sender_test.go
+++ b/exporter/exporterhelper/internal/retry_sender_test.go
@@ -318,10 +318,10 @@ func TestQueueRetryWithDisabledRetires(t *testing.T) {
 			ocs.run(func() {
 				require.Error(t, be.Send(context.Background(), mockR))
 			})
+			ocs.awaitAsyncProcessing()
 			assert.Len(t, observed.All(), 1)
 			assert.Equal(t, "Exporting failed. Rejecting data. "+
 				"Try enabling retry_on_failure config option to retry on retryable errors.", observed.All()[0].Message)
-			ocs.awaitAsyncProcessing()
 			mockR.checkNumRequests(t, 1)
 			ocs.checkSendItemsCount(t, 0)
 			ocs.checkDroppedItemsCount(t, 2)
@@ -367,15 +367,13 @@ func TestRetryWithContextTimeout(t *testing.T) {
 			ocs.run(func() {
 				ctx, cancel := context.WithTimeout(context.Background(), testTimeout)
 				defer cancel()
-				err := be.Send(ctx, mockR)
-				require.Error(t, err)
-				require.Equal(t, "request will be cancelled before next retry: transient error", err.Error())
+				require.EqualError(t, be.Send(ctx, mockR), "request will be cancelled before next retry: transient error")
 			})
+			ocs.awaitAsyncProcessing()
 			assert.Len(t, observed.All(), 2)
 			assert.Equal(t, "Exporting failed. Will retry the request after interval.", observed.All()[0].Message)
 			assert.Equal(t, "Exporting failed. Rejecting data. "+
 				"Try enabling sending_queue to survive temporary failures.", observed.All()[1].Message)
-			ocs.awaitAsyncProcessing()
 			ocs.checkDroppedItemsCount(t, 7)
 			require.Equal(t, 2, mockR.(*mockErrorRequest).getNumRequests())
 			require.NoError(t, be.Shutdown(context.Background()))
diff --git a/exporter/exporterhelper/xexporterhelper/go.mod b/exporter/exporterhelper/xexporterhelper/go.mod
index 2101aaa6b1f..235ac18615f 100644
--- a/exporter/exporterhelper/xexporterhelper/go.mod
+++ b/exporter/exporterhelper/xexporterhelper/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/exporterhelper/xexporterhelper
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
@@ -25,7 +25,7 @@ require (
 )
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/go-logr/logr v1.4.2 // indirect
 	github.com/go-logr/stdr v1.2.2 // indirect
diff --git a/exporter/exporterhelper/xexporterhelper/go.sum b/exporter/exporterhelper/xexporterhelper/go.sum
index 96171eca8b5..b8818f60ff1 100644
--- a/exporter/exporterhelper/xexporterhelper/go.sum
+++ b/exporter/exporterhelper/xexporterhelper/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/exportertest/go.mod b/exporter/exportertest/go.mod
index 72bc7863a0b..b668c18d677 100644
--- a/exporter/exportertest/go.mod
+++ b/exporter/exportertest/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/exportertest
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/google/uuid v1.6.0
@@ -22,7 +22,7 @@ require (
 )
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/go-logr/logr v1.4.2 // indirect
 	github.com/go-logr/stdr v1.2.2 // indirect
diff --git a/exporter/exportertest/go.sum b/exporter/exportertest/go.sum
index 96171eca8b5..b8818f60ff1 100644
--- a/exporter/exportertest/go.sum
+++ b/exporter/exportertest/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/go.mod b/exporter/go.mod
index 7b23c80fd1c..ce8a164a297 100644
--- a/exporter/go.mod
+++ b/exporter/go.mod
@@ -1,9 +1,9 @@
 module go.opentelemetry.io/collector/exporter
 
-go 1.22.0
+go 1.23
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0
+	github.com/cenkalti/backoff/v5 v5.0.0
 	github.com/stretchr/testify v1.10.0
 	go.opentelemetry.io/collector/component v0.116.0
 	go.opentelemetry.io/collector/component/componenttest v0.116.0
diff --git a/exporter/go.sum b/exporter/go.sum
index 96171eca8b5..b8818f60ff1 100644
--- a/exporter/go.sum
+++ b/exporter/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/nopexporter/go.mod b/exporter/nopexporter/go.mod
index 5cd50fd96f9..a6721479091 100644
--- a/exporter/nopexporter/go.mod
+++ b/exporter/nopexporter/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/nopexporter
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
diff --git a/exporter/nopexporter/go.sum b/exporter/nopexporter/go.sum
index 390bec10dc4..aba0489e8f1 100644
--- a/exporter/nopexporter/go.sum
+++ b/exporter/nopexporter/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/otlpexporter/go.mod b/exporter/otlpexporter/go.mod
index 1e09775c971..be7b5b69f52 100644
--- a/exporter/otlpexporter/go.mod
+++ b/exporter/otlpexporter/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/otlpexporter
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
@@ -31,7 +31,7 @@ require (
 )
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/fsnotify/fsnotify v1.8.0 // indirect
 	github.com/go-logr/logr v1.4.2 // indirect
diff --git a/exporter/otlpexporter/go.sum b/exporter/otlpexporter/go.sum
index 3e6bf93a265..c2349fbd3f4 100644
--- a/exporter/otlpexporter/go.sum
+++ b/exporter/otlpexporter/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/otlphttpexporter/go.mod b/exporter/otlphttpexporter/go.mod
index 0a4830a8740..ac0ad024949 100644
--- a/exporter/otlphttpexporter/go.mod
+++ b/exporter/otlphttpexporter/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/otlphttpexporter
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
@@ -29,7 +29,7 @@ require (
 )
 
 require (
-	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/felixge/httpsnoop v1.0.4 // indirect
 	github.com/fsnotify/fsnotify v1.8.0 // indirect
diff --git a/exporter/otlphttpexporter/go.sum b/exporter/otlphttpexporter/go.sum
index e691f89e95d..7f937017871 100644
--- a/exporter/otlphttpexporter/go.sum
+++ b/exporter/otlphttpexporter/go.sum
@@ -1,5 +1,5 @@
-github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
-github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
 github.com/davecgh/go-spew v1.1.1 h1:vj9j/u1bqnvCEfJOwUhtlOARqs3+rkHYY13jYWTU97c=
 github.com/davecgh/go-spew v1.1.1/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/exporter/xexporter/go.mod b/exporter/xexporter/go.mod
index 0609a8465d6..f6633ade082 100644
--- a/exporter/xexporter/go.mod
+++ b/exporter/xexporter/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/exporter/xexporter
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
diff --git a/internal/e2e/go.mod b/internal/e2e/go.mod
index 210e37a2736..92732ca994d 100644
--- a/internal/e2e/go.mod
+++ b/internal/e2e/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/internal/e2e
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
@@ -39,6 +39,7 @@ require (
 require (
 	github.com/beorn7/perks v1.0.1 // indirect
 	github.com/cenkalti/backoff/v4 v4.3.0 // indirect
+	github.com/cenkalti/backoff/v5 v5.0.0 // indirect
 	github.com/cespare/xxhash/v2 v2.3.0 // indirect
 	github.com/davecgh/go-spew v1.1.1 // indirect
 	github.com/ebitengine/purego v0.8.1 // indirect
diff --git a/internal/e2e/go.sum b/internal/e2e/go.sum
index 3b551258652..5307ad91312 100644
--- a/internal/e2e/go.sum
+++ b/internal/e2e/go.sum
@@ -2,6 +2,8 @@ github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=
 github.com/beorn7/perks v1.0.1/go.mod h1:G2ZrVWU2WbWT9wwq4/hrbKbnv/1ERSJQ0ibhJ6rlkpw=
 github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
 github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/cespare/xxhash/v2 v2.3.0 h1:UL815xU9SqsFlibzuggzjXhog7bL6oX9BbNZnL2UFvs=
 github.com/cespare/xxhash/v2 v2.3.0/go.mod h1:VGX0DQ3Q6kWi7AoAeZDth3/j3BFtOZR5XLFGgcrjCOs=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=
diff --git a/internal/tools/go.mod b/internal/tools/go.mod
index 42b874db10d..4730a561246 100644
--- a/internal/tools/go.mod
+++ b/internal/tools/go.mod
@@ -2,8 +2,6 @@ module go.opentelemetry.io/collector/internal/tools
 
 go 1.23
 
-toolchain go1.23.2
-
 require (
 	github.com/a8m/envsubst v1.4.2
 	github.com/client9/misspell v0.3.4
diff --git a/otelcol/go.mod b/otelcol/go.mod
index 73819429cdf..cfe2b0f04ae 100644
--- a/otelcol/go.mod
+++ b/otelcol/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/otelcol
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/spf13/cobra v1.8.1
diff --git a/otelcol/go.sum b/otelcol/go.sum
index 634a9703cc9..0321a08dc5b 100644
--- a/otelcol/go.sum
+++ b/otelcol/go.sum
@@ -2,6 +2,8 @@ github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=
 github.com/beorn7/perks v1.0.1/go.mod h1:G2ZrVWU2WbWT9wwq4/hrbKbnv/1ERSJQ0ibhJ6rlkpw=
 github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
 github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/cespare/xxhash/v2 v2.3.0 h1:UL815xU9SqsFlibzuggzjXhog7bL6oX9BbNZnL2UFvs=
 github.com/cespare/xxhash/v2 v2.3.0/go.mod h1:VGX0DQ3Q6kWi7AoAeZDth3/j3BFtOZR5XLFGgcrjCOs=
 github.com/cpuguy83/go-md2man/v2 v2.0.4/go.mod h1:tgQtvFlXSQOSOSIRvRPT7W67SCa46tRHOmNcaadrF8o=
diff --git a/otelcol/otelcoltest/go.mod b/otelcol/otelcoltest/go.mod
index 1b51d17f2ce..079800cb8df 100644
--- a/otelcol/otelcoltest/go.mod
+++ b/otelcol/otelcoltest/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/otelcol/otelcoltest
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/stretchr/testify v1.10.0
diff --git a/otelcol/otelcoltest/go.sum b/otelcol/otelcoltest/go.sum
index 634a9703cc9..0321a08dc5b 100644
--- a/otelcol/otelcoltest/go.sum
+++ b/otelcol/otelcoltest/go.sum
@@ -2,6 +2,8 @@ github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=
 github.com/beorn7/perks v1.0.1/go.mod h1:G2ZrVWU2WbWT9wwq4/hrbKbnv/1ERSJQ0ibhJ6rlkpw=
 github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
 github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/cespare/xxhash/v2 v2.3.0 h1:UL815xU9SqsFlibzuggzjXhog7bL6oX9BbNZnL2UFvs=
 github.com/cespare/xxhash/v2 v2.3.0/go.mod h1:VGX0DQ3Q6kWi7AoAeZDth3/j3BFtOZR5XLFGgcrjCOs=
 github.com/cpuguy83/go-md2man/v2 v2.0.4/go.mod h1:tgQtvFlXSQOSOSIRvRPT7W67SCa46tRHOmNcaadrF8o=
diff --git a/service/go.mod b/service/go.mod
index e64e29caa31..cb7700f9a45 100644
--- a/service/go.mod
+++ b/service/go.mod
@@ -1,6 +1,6 @@
 module go.opentelemetry.io/collector/service
 
-go 1.22.0
+go 1.23
 
 require (
 	github.com/google/uuid v1.6.0
diff --git a/service/go.sum b/service/go.sum
index c5eba6692de..853c06d12c1 100644
--- a/service/go.sum
+++ b/service/go.sum
@@ -2,6 +2,8 @@ github.com/beorn7/perks v1.0.1 h1:VlbKKnNfV8bJzeqoa4cOKqO6bYr3WgKZxO8Z16+hsOM=
 github.com/beorn7/perks v1.0.1/go.mod h1:G2ZrVWU2WbWT9wwq4/hrbKbnv/1ERSJQ0ibhJ6rlkpw=
 github.com/cenkalti/backoff/v4 v4.3.0 h1:MyRJ/UdXutAwSAT+s3wNd7MfTIcy71VQueUuFK343L8=
 github.com/cenkalti/backoff/v4 v4.3.0/go.mod h1:Y3VNntkOUPxTVeUxJ/G5vcM//AlwfmyYozVcomhLiZE=
+github.com/cenkalti/backoff/v5 v5.0.0 h1:4ziwFuaVJicDO1ah1Nz1aXXV1caM28PFgf1V5TTFXew=
+github.com/cenkalti/backoff/v5 v5.0.0/go.mod h1:rkhZdG3JZukswDf7f0cwqPNk4K0sa+F97BxZthm/crw=
 github.com/cespare/xxhash/v2 v2.3.0 h1:UL815xU9SqsFlibzuggzjXhog7bL6oX9BbNZnL2UFvs=
 github.com/cespare/xxhash/v2 v2.3.0/go.mod h1:VGX0DQ3Q6kWi7AoAeZDth3/j3BFtOZR5XLFGgcrjCOs=
 github.com/davecgh/go-spew v1.1.0/go.mod h1:J7Y8YcW2NihsgmVo/mv3lAwl/skON4iLHjSsI+c5H38=