diff --git a/pkgs/by-name/co/codex/package.nix b/pkgs/by-name/co/codex/package.nix
index abb341eb56ef..dd9ddcb0d582 100644
--- a/pkgs/by-name/co/codex/package.nix
+++ b/pkgs/by-name/co/codex/package.nix
@@ -25,25 +25,24 @@
 }:
 rustPlatform.buildRustPackage (finalAttrs: {
   pname = "codex";
-  version = "0.121.0";
+  version = "0.122.0";
 
   src = fetchFromGitHub {
     owner = "openai";
     repo = "codex";
     tag = "rust-v${finalAttrs.version}";
-    hash = "sha256-wjiUMox9V5tFggNgaFyHXWhRlpPerK7W+U/eR2Ddbbc=";
+    hash = "sha256-CpXWP64URsgt/PhQrUkrT87KG633hxRUIY0wWrTFmjk=";
   };
 
   sourceRoot = "${finalAttrs.src.name}/codex-rs";
 
-  cargoHash = "sha256-zpQ0vg9XuarLfdZYiRIhcwLHUOdunNbOb5xLW3MPzp8=";
+  cargoHash = "sha256-2qtMLWSdYWJ+blNfCHXtgmzizuM1HgpTGa5RQ3U/AEM=";
 
-  # Match upstream's release build (codex only, no fat LTO) to cut build time.
+  # Match upstream's release build (codex only) and drop the expensive
+  # release profile tweaks that dominate cold build time in nixpkgs.
   cargoBuildFlags = [
     "--package"
     "codex-cli"
-    "--config"
-    ''profile.release.lto="off"''
   ];
   cargoCheckFlags = [
     "--package"
@@ -57,6 +56,10 @@ rustPlatform.buildRustPackage (finalAttrs: {
     # to use the shared library instead
     substituteInPlace $cargoDepsCopy/*/webrtc-sys-*/build.rs \
       --replace-fail "cargo:rustc-link-lib=static=webrtc" "cargo:rustc-link-lib=dylib=webrtc"
+
+    substituteInPlace Cargo.toml \
+      --replace-fail 'lto = "fat"' "" \
+      --replace-fail 'codegen-units = 1' ""
   '';
 
   nativeBuildInputs = [