diff --git a/externals/fmt b/externals/fmt
index 796beaad..39834389 160000
--- a/externals/fmt
+++ b/externals/fmt
@@ -1 +1 @@
-Subproject commit 796beaaddb5226162fe00c2c55e322d80d26f3d8
+Subproject commit 398343897f98b88ade80bbebdcbe82a36c65a980
diff --git a/src/CMakeLists.txt b/src/CMakeLists.txt
index 4a4f0d5b..dd56e860 100644
--- a/src/CMakeLists.txt
+++ b/src/CMakeLists.txt
@@ -115,7 +115,7 @@ target_compile_options(dynarmic PRIVATE ${DYNARMIC_CXX_FLAGS})
 target_link_libraries(dynarmic
     PRIVATE
         boost
-        fmt
+        fmt::fmt
         xbyak
         $<$<BOOL:DYNARMIC_USE_LLVM>:${llvm_libs}>
 )