diff --git a/utils/build.ps1 b/utils/build.ps1
index ae8f9ae8b514f..a5d6ae6fda566 100644
--- a/utils/build.ps1
+++ b/utils/build.ps1
@@ -2105,6 +2105,22 @@ function Build-CMakeProject {
     # Helper cmdlet to add linker flags with the appropriate handling based on
     # the linker driver and CMake version.
     function Convert-LinkerFlags([string[]]$Value) {
+      # CMake only passes CMAKE_EXE_LINKER_FLAGS to Swift executables starting
+      # with CMake 4.4, which CMP0214 set to NEW. CMAKE_SHARED_LINKER_FLAGS
+      # are passed to Swift shared libraries when CMP0157 is set to NEW, but
+      # only after CMake 3.30.
+      # To work around these issues, add the linker flags directly to
+      # CMAKE_Swift_FLAGS with the `-Xlinker` prefix, until CMake 4.4 is used to
+      # build the toolchain.
+      if ($UseSwift) {
+        $SwiftLinkerFlags = @()
+        foreach ($Flag in $Value) {
+          $SwiftLinkerFlags += "-Xlinker"
+          $SwiftLinkerFlags += $Flag
+        }
+        Add-FlagsDefine $Defines CMAKE_Swift_FLAGS $SwiftLinkerFlags
+      }
+
       switch ($FlagHandling) {
         CMP0181 {
           $Value | ForEach-Object { "LINKER:$_" }
@@ -2237,21 +2253,31 @@ function Build-CMakeProject {
             Add-FlagsDefine $Defines CMAKE_Swift_FLAGS $(& $SwiftCompiler.DebugFlags $DebugFormat)
           } else {
             Add-FlagsDefine $Defines CMAKE_Swift_FLAGS @("-gnone")
+          [string[]] $SwiftFlags = @();
+
+          $SwiftFlags += if ($SwiftSDK) {
+            @("-sdk", $SwiftSDK)
+          } else {
+            @()
+          }
+
+          $SwiftFlags += if ($DebugInfo) {
+            if ($DebugFormat -eq "dwarf") {
+              @("-g", "-debug-info-format=dwarf", "-use-ld=lld-link")
+            } else {
+              @("-g", "-debug-info-format=codeview")
+            }
+          } else {
+            @("-gnone")
           }
 
           if ($CMakePassesSwiftLinkerFlags) {
-            # CMake 3.30+ passes all linker flags to Swift as the linker driver,
-            # including those from the internal CMake modules files, without
-            # a `-Xlinker` prefix. This causes build failures as Swift cannot
-            # parse linker flags.
-            # Overwrite the release linker flags to be empty to avoid this.
+            # CMake 3.30+ passes CMAKE_SHARED_LINKER_FLAGS to Swift shared
+            # libraries (via CMP0157). CMake's MSVC platform files set
+            # release-config linker flags that the Swift driver doesn't
+            # understand. Clear them to prevent build failures.
             Add-KeyValueIfNew $Defines CMAKE_EXE_LINKER_FLAGS_RELEASE ""
             Add-KeyValueIfNew $Defines CMAKE_SHARED_LINKER_FLAGS_RELEASE ""
-          } else {
-            # Disable EnC as that introduces padding in the conformance tables
-            Add-FlagsDefine $Defines CMAKE_Swift_FLAGS @("-Xlinker", "/INCREMENTAL:NO")
-            # Swift requires COMDAT folding and de-duplication
-            Add-FlagsDefine $Defines CMAKE_Swift_FLAGS @("-Xlinker", "/OPT:REF", "-Xlinker", "/OPT:ICF")
           }
 
           Add-FlagsDefine $Defines CMAKE_Swift_FLAGS $SwiftCompiler.Flags
@@ -2260,6 +2286,8 @@ function Build-CMakeProject {
           Add-FlagsDefine $Defines CMAKE_Swift_FLAGS_RELWITHDEBINFO "-O"
         }
 
+        # Disable Edit-and-Continue as that introduces padding in the conformance tables.
+        # COMDAT folding and de-duplication are required by Swift.
         Add-LinkerFlagsDefine $Defines @("/INCREMENTAL:NO", "/OPT:REF", "/OPT:ICF")
         Add-SharedLinkerFlagsDefine $Defines @("/MANIFEST:NO")
         Add-KeyValueIfNew $Defines CMAKE_USER_MAKE_RULES_OVERRIDE `
@@ -2273,16 +2301,16 @@ function Build-CMakeProject {
             # is no need to set them explicitly above.
             Add-KeyValueIfNew $Defines CMAKE_MSVC_DEBUG_INFORMATION_FORMAT Embedded
             Add-KeyValueIfNew $Defines CMAKE_POLICY_DEFAULT_CMP0141 NEW
+          }
 
+          if ($DebugFormat -eq "dwarf" -and -not ($UseMSVCCompilers.Contains("C") -or $UseMSVCCompilers.Contains("CXX"))) {
+            # The linker flags are shared across every language, and these are
+            # `lld-link.exe` arguments, not `link.exe`.
+            # TODO: Investigate supporting fission with PE/COFF, this should
+            # avoid the `longsections` warning.
+            Add-LinkerFlagsDefine $Defines @("/DEBUG:DWARF", "/IGNORE:longsections")
+          } else {
             Add-LinkerFlagsDefine $Defines @("/DEBUG")
-
-            # The linker flags are shared across every language, and `/IGNORE:longsections` is an
-            # `lld-link.exe` argument, not `link.exe`, so this can only be enabled when we use
-            # `lld-link.exe` for linking.
-            # TODO: Investigate supporting fission with PE/COFF, this should avoid this warning.
-            if ($DebugFormat -eq "dwarf" -and -not $UseMSVC) {
-              Add-LinkerFlagsDefine $Defines @("/IGNORE:longsections")
-            }
           }
         }
       }