Next.js v16.3.1

What's Changed

• [16.x] Turbopack: don't strip async-module runtime from shared runtime chunks by @lukesandberg in https://github.com/vercel/next.js/pull/96653
• [16.x] [turbopack] Add turbopack_ecmascript and turbopack_wasm's embeded FS to internal_assets_conditions by @lukesandberg in https://github.com/vercel/next.js/pull/96655
• [16.x] [turbopack] Collapse nested promises in the analyzer by @sampoder in https://github.com/vercel/next.js/pull/96675
• [16.x] fix(next/image): preserve image response after optimization by @styfle in https://github.com/vercel/next.js/pull/96733
• [16.3.x] Default deploy e2e tests to the repo next version by @eps1lon in https://github.com/vercel/next.js/pull/96900
• [backport] Bump @swc/helpers by @mischnic in https://github.com/vercel/next.js/pull/96885
• [backport] [turbopack] Raise registration calls in hoisted modules to the top by @lukesandberg in https://github.com/vercel/next.js/pull/97308
• [backport] Fix missing styled-jsx styles in Pages Router SSR on adapter builds by @lukesandberg in https://github.com/vercel/next.js/pull/97302
• [backport] [turbopack] Fix HMR for dynamic imports evaluated from layouts by @lukesandberg in https://github.com/vercel/next.js/pull/97317
• [backport] Restore the live headers() view of the incoming request by @unstubbable in https://github.com/vercel/next.js/pull/97311
• [backport] Allow literal exports in 'use cache' files by @unstubbable in https://github.com/vercel/next.js/pull/97312
• [backport] Keep the dev validation worker alive across HMR updates by @unstubbable in https://github.com/vercel/next.js/pull/97315
• [backport] Discard only cache entries that predate a tag revalidation, and reuse completed entries by @unstubbable in https://github.com/vercel/next.js/pull/97314
• [backport] Encode the cache item name built by unstable_cache by @unstubbable in https://github.com/vercel/next.js/pull/97313
• [16.3] [ci] Use OIDC tokens to read private preview builds by @eps1lon in https://github.com/vercel/next.js/pull/97258
• [backport] [test] Compile the middleware redirect routes up front in dev by @lukesandberg in https://github.com/vercel/next.js/pull/97328
• [backport] Fix Nav Inspector request loop on repeat captures by @acdlite in https://github.com/vercel/next.js/pull/97326
• [backport] Fix: Optimistic routing bugs leading to repeated prefetch loops by @acdlite in https://github.com/vercel/next.js/pull/97325
• [backport] Retain fewer stale cache versions and use a TTL, plus the mtime fallback by @lukesandberg in https://github.com/vercel/next.js/pull/97304
• [backport] Revert i18n localization change for dynamic Pages API routes (#94905) by @gaojude in https://github.com/vercel/next.js/pull/97330

Full Changelog: https://github.com/vercel/next.js/compare/v16.3.0...v16.3.1