diff --git a/CMakeLists.txt b/CMakeLists.txt
index 9eb5c044bf96f..ff0ba86469e39 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1673,7 +1673,8 @@ if(SWIFT_ENABLE_NEW_RUNTIME_BUILD)
           -DCMAKE_COLOR_DIAGNOSTICS:BOOLEAN=${CMAKE_COLOR_DIAGNOSTICS}
           -DCMAKE_MAKE_PROGRAM=${CMAKE_MAKE_PROGRAM}
           -DSwiftCore_INSTALL_NESTED_SUBDIR=YES
-          -DSwiftCore_ENABLE_CONCURRENCY=${build_concurrency})
+          -DSwiftCore_ENABLE_CONCURRENCY=${build_concurrency}
+          -DSwiftCore_MODULE_CACHE_PATH=${SWIFT_MODULE_CACHE_PATH}-runtimes-core)
       if(NOT ${CMAKE_CROSSCOMPILING})
         add_dependencies("${stdlib_target}-core" swift-frontend)
       endif()
@@ -1700,7 +1701,8 @@ if(SWIFT_ENABLE_NEW_RUNTIME_BUILD)
           -DCMAKE_CXX_COMPILER_TARGET:STRING=${stdlib_target_triple}
           -DCMAKE_COLOR_DIAGNOSTICS:BOOLEAN=${CMAKE_COLOR_DIAGNOSTICS}
           -DCMAKE_MAKE_PROGRAM=${CMAKE_MAKE_PROGRAM}
-          -DCMAKE_FIND_PACKAGE_PREFER_CONFIG=TRUE)
+          -DCMAKE_FIND_PACKAGE_PREFER_CONFIG=TRUE
+          -DSwiftOverlay_MODULE_CACHE_PATH=${SWIFT_MODULE_CACHE_PATH}-runtimes-overlay)
 
       ExternalProject_Add("${stdlib_target}-Supplemental"
         SOURCE_DIR "${CMAKE_CURRENT_SOURCE_DIR}/Runtimes/Supplemental"
@@ -1724,7 +1726,8 @@ if(SWIFT_ENABLE_NEW_RUNTIME_BUILD)
           -DCMAKE_CXX_COMPILER_TARGET:STRING=${stdlib_target_triple}
           -DCMAKE_COLOR_DIAGNOSTICS:BOOLEAN=${CMAKE_COLOR_DIAGNOSTICS}
           -DCMAKE_MAKE_PROGRAM=${CMAKE_MAKE_PROGRAM}
-          -DCMAKE_FIND_PACKAGE_PREFER_CONFIG=TRUE)
+          -DCMAKE_FIND_PACKAGE_PREFER_CONFIG=TRUE
+          -DSwiftSupplemental_MODULE_CACHE_PATH=${SWIFT_MODULE_CACHE_PATH}-runtimes-supplemental)
     endforeach()
   endforeach()
 endif()
diff --git a/Runtimes/Core/CMakeLists.txt b/Runtimes/Core/CMakeLists.txt
index a6428b6b425ab..f8281b4350227 100644
--- a/Runtimes/Core/CMakeLists.txt
+++ b/Runtimes/Core/CMakeLists.txt
@@ -194,7 +194,8 @@ add_compile_options(
   "$<$<AND:$<NOT:$<BOOL:${SwiftCore_ENABLE_OBJC_INTEROP}>>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -disable-objc-interop>"
   "$<$<AND:$<PLATFORM_ID:Windows>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xcc -Xclang -Xcc -fbuiltin-headers-in-system-modules>"
   "$<$<AND:$<BOOL:${SwiftCore_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${SwiftCore_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${SwiftCore_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${SwiftCore_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${SwiftCore_MODULE_CACHE_PATH}>")
 
 include(ExperimentalFeatures)
 
diff --git a/Runtimes/Overlay/CMakeLists.txt b/Runtimes/Overlay/CMakeLists.txt
index 61afeb8f6459d..367981340d51d 100644
--- a/Runtimes/Overlay/CMakeLists.txt
+++ b/Runtimes/Overlay/CMakeLists.txt
@@ -73,7 +73,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -enforce-exclusivity=unchecked>"
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -target-min-inlining-version -Xfrontend min>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 include(ExperimentalFeatures)
 
diff --git a/Runtimes/Supplemental/CMakeLists.txt b/Runtimes/Supplemental/CMakeLists.txt
index 0b64b98c7c7e1..8bdfffbbf5391 100644
--- a/Runtimes/Supplemental/CMakeLists.txt
+++ b/Runtimes/Supplemental/CMakeLists.txt
@@ -55,7 +55,8 @@ if(SwiftRuntime_ENABLE_stringprocessing)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftStringProcessing_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-stringprocessing)
 endif()
 
 # Synchronization
@@ -68,7 +69,8 @@ if(SwiftRuntime_ENABLE_synchronization)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftSynchronization_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-synchronization)
 endif()
 
 # Distributed
@@ -81,7 +83,8 @@ if(SwiftRuntime_ENABLE_distributed)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftDistributed_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-distributed)
 endif()
 
 
@@ -95,7 +98,8 @@ if(SwiftRuntime_ENABLE_differentiation)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftDifferentiation_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-differentiation)
 endif()
 
 # Observation
@@ -108,7 +112,8 @@ if(SwiftRuntime_ENABLE_observation)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftObservation_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-observation)
 endif()
 
 # Runtime
@@ -121,5 +126,6 @@ if(SwiftRuntime_ENABLE_runtime)
     # To ensure incremental builds work as expected
     BUILD_ALWAYS 1
     CMAKE_ARGS
-      ${COMMON_OPTIONS})
+      ${COMMON_OPTIONS}
+      -DSwiftRuntime_MODULE_CACHE_PATH=${SwiftSupplemental_MODULE_CACHE_PATH}-runtime)
 endif()
diff --git a/Runtimes/Supplemental/Differentiation/CMakeLists.txt b/Runtimes/Supplemental/Differentiation/CMakeLists.txt
index 3e0b42124aeff..f021e6df914b1 100644
--- a/Runtimes/Supplemental/Differentiation/CMakeLists.txt
+++ b/Runtimes/Supplemental/Differentiation/CMakeLists.txt
@@ -75,7 +75,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-enable-experimental-feature MemberImportVisibility>"
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -enforce-exclusivity=unchecked>"
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -target-min-inlining-version -Xfrontend min>"
-  $<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>)
+  $<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/Distributed/CMakeLists.txt b/Runtimes/Supplemental/Distributed/CMakeLists.txt
index a802147d72c7e..e35140e9662e5 100644
--- a/Runtimes/Supplemental/Distributed/CMakeLists.txt
+++ b/Runtimes/Supplemental/Distributed/CMakeLists.txt
@@ -82,7 +82,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -enable-lexical-lifetimes=false>"
   "$<$<COMPILE_LANGUAGE:Swift>:-warn-implicit-overrides>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/Observation/CMakeLists.txt b/Runtimes/Supplemental/Observation/CMakeLists.txt
index 98ce40a292f5e..444f7ef8953c4 100644
--- a/Runtimes/Supplemental/Observation/CMakeLists.txt
+++ b/Runtimes/Supplemental/Observation/CMakeLists.txt
@@ -80,7 +80,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -enable-lexical-lifetimes=false>"
   "$<$<COMPILE_LANGUAGE:Swift>:-warn-implicit-overrides>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/Runtime/CMakeLists.txt b/Runtimes/Supplemental/Runtime/CMakeLists.txt
index 099fa4945bea2..1d03c15b7181d 100644
--- a/Runtimes/Supplemental/Runtime/CMakeLists.txt
+++ b/Runtimes/Supplemental/Runtime/CMakeLists.txt
@@ -89,7 +89,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:-cxx-interoperability-mode=default>"
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -experimental-spi-only-imports>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/StringProcessing/CMakeLists.txt b/Runtimes/Supplemental/StringProcessing/CMakeLists.txt
index 709ba16918411..837ff1a76b9b7 100644
--- a/Runtimes/Supplemental/StringProcessing/CMakeLists.txt
+++ b/Runtimes/Supplemental/StringProcessing/CMakeLists.txt
@@ -57,7 +57,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -disable-implicit-string-processing-module-import>"
   "$<$<COMPILE_LANGUAGE:Swift>:-warn-implicit-overrides>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/Synchronization/CMakeLists.txt b/Runtimes/Supplemental/Synchronization/CMakeLists.txt
index 2ab0500c53d94..e28b156205fba 100644
--- a/Runtimes/Supplemental/Synchronization/CMakeLists.txt
+++ b/Runtimes/Supplemental/Synchronization/CMakeLists.txt
@@ -93,7 +93,8 @@ add_compile_options(
   "$<$<COMPILE_LANGUAGE:Swift>:SHELL:-Xfrontend -enable-lexical-lifetimes=false>"
   "$<$<COMPILE_LANGUAGE:Swift>:-warn-implicit-overrides>"
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'
diff --git a/Runtimes/Supplemental/Volatile/CMakeLists.txt b/Runtimes/Supplemental/Volatile/CMakeLists.txt
index ad8fc2428852a..d97a5c38f3dd0 100644
--- a/Runtimes/Supplemental/Volatile/CMakeLists.txt
+++ b/Runtimes/Supplemental/Volatile/CMakeLists.txt
@@ -68,7 +68,8 @@ add_compile_options(
   $<$<COMPILE_LANGUAGE:Swift>:-nostdlibimport>
   $<$<COMPILE_LANGUAGE:Swift>:-strict-memory-safety>
   "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_LIBRARY_EVOLUTION}>,$<COMPILE_LANGUAGE:Swift>>:-enable-library-evolution>"
-  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>")
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_ENABLE_PRESPECIALIZATION}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-Xfrontend -prespecialize-generic-metadata>"
+  "$<$<AND:$<BOOL:${${PROJECT_NAME}_MODULE_CACHE_PATH}>,$<COMPILE_LANGUAGE:Swift>>:SHELL:-module-cache-path ${${PROJECT_NAME}_MODULE_CACHE_PATH}>")
 
 # LNK4049: symbol 'symbol' defined in 'filename.obj' is imported
 # LNK4286: symbol 'symbol' defined in 'filename_1.obj' is imported by 'filename_2.obj'