diff --git a/CMakeLists.txt b/CMakeLists.txt
index 7155c15079e..7a621b859e7 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -484,7 +484,7 @@ endif()
 if(NOT APPLE)
   option(WITH_CYCLES_DEVICE_HIP        "Enable Cycles AMD HIP support" ON)
   option(WITH_CYCLES_HIP_BINARIES      "Build Cycles AMD HIP binaries" OFF)
-  set(CYCLES_HIP_BINARIES_ARCH gfx900 gfx906 gfx90c gfx902 gfx1010 gfx1011 gfx1012 gfx1030 gfx1031 gfx1032 gfx1034 gfx1035 CACHE STRING "AMD HIP architectures to build binaries for")
+  set(CYCLES_HIP_BINARIES_ARCH gfx900 gfx906 gfx90c gfx902 gfx1010 gfx1011 gfx1012 gfx1030 gfx1031 gfx1032 gfx1034 gfx1035 gfx1100 gfx1101 gfx1102 CACHE STRING "AMD HIP architectures to build binaries for")
   mark_as_advanced(WITH_CYCLES_DEVICE_HIP)
   mark_as_advanced(CYCLES_HIP_BINARIES_ARCH)
 endif()
diff --git a/build_files/config/pipeline_config.yaml b/build_files/config/pipeline_config.yaml
index 3359f89c41e..d344b88f255 100644
--- a/build_files/config/pipeline_config.yaml
+++ b/build_files/config/pipeline_config.yaml
@@ -55,7 +55,7 @@ buildbot:
     cuda11:
         version: '11.4.1'
     hip:
-        version: '5.2.21440'
+        version: '5.3.22480'
     optix:
         version: '7.3.0'
     ocloc:
diff --git a/intern/cycles/kernel/CMakeLists.txt b/intern/cycles/kernel/CMakeLists.txt
index 64f7214530f..3f03118b105 100644
--- a/intern/cycles/kernel/CMakeLists.txt
+++ b/intern/cycles/kernel/CMakeLists.txt
@@ -564,13 +564,22 @@ if(WITH_CYCLES_HIP_BINARIES AND WITH_CYCLES_DEVICE_HIP)
     if(WIN32)
       set(hip_command ${CMAKE_COMMAND})
       set(hip_flags
-        -E env "HIP_PATH=${HIP_ROOT_DIR}" "PATH=${HIP_PERL_DIR}"
+        -E env "HIP_PATH=${HIP_ROOT_DIR}"
         ${HIP_HIPCC_EXECUTABLE}.bat)
     else()
       set(hip_command ${HIP_HIPCC_EXECUTABLE})
       set(hip_flags)
     endif()
 
+    # There's a bug in the compiler causing some scenes to fail to render on Vega cards
+    # A workaround currently is to set -O1 opt level during kernel compilation for these
+    # cards Remove this when a newer compiler is available with fixes.
+    if(WIN32 AND (${arch} MATCHES "gfx90[a-z0-9]+"))
+      set(hip_opt_flags "-O1")
+    else()
+      set(hip_opt_flags)
+    endif()
+
     set(hip_flags
       ${hip_flags}
       --amdgpu-target=${arch}
@@ -587,6 +596,7 @@ if(WITH_CYCLES_HIP_BINARIES AND WITH_CYCLES_DEVICE_HIP)
       -Wno-unused-value
       --hipcc-func-supp
       -ffast-math
+      ${hip_opt_flags}
       -o ${CMAKE_CURRENT_BINARY_DIR}/${hip_file})
 
     if(WITH_NANOVDB)