diff --git a/src/runtime/bake/BakeGlobalObject.cpp b/src/runtime/bake/BakeGlobalObject.cpp
index 766b100614fe..d962472c9a77 100644
--- a/src/runtime/bake/BakeGlobalObject.cpp
+++ b/src/runtime/bake/BakeGlobalObject.cpp
@@ -8,6 +8,7 @@
 #include "JavaScriptCore/Completion.h"
 #include "JavaScriptCore/JSSourceCode.h"
 
+// These (and BakeProdLoad below) return an owned reference: consume it with transferToWTFString().
 extern "C" BunString BakeProdResolve(JSC::JSGlobalObject*, BunString a, BunString b);
 extern "C" BunString BakeToWindowsPath(BunString a);
 
@@ -45,7 +46,7 @@ bakeModuleLoaderImportModule(JSC::JSGlobalObject* global,
         BunString result = BakeProdResolve(global, Bun::toString(refererString), Bun::toString(keyString));
         RETURN_IF_EXCEPTION(scope, nullptr);
 
-        return JSC::importModule(global, JSC::Identifier::fromString(vm, result.toWTFString()),
+        return JSC::importModule(global, JSC::Identifier::fromString(vm, result.transferToWTFString()),
             JSC::Identifier(), WTF::move(parameters), nullptr);
     }
 
@@ -71,7 +72,7 @@ JSC::Identifier bakeModuleLoaderResolve(JSC::JSGlobalObject* jsGlobal,
             BunString result = BakeProdResolve(global, Bun::toString(referrer.getString(global)), Bun::toString(keyString));
             RETURN_IF_EXCEPTION(scope, vm.propertyNames->emptyIdentifier);
 
-            return JSC::Identifier::fromString(vm, result.toWTFString(BunString::ZeroCopy));
+            return JSC::Identifier::fromString(vm, result.transferToWTFString());
         }
     }
 
@@ -137,7 +138,7 @@ JSC::JSPromise* bakeModuleLoaderFetch(JSC::JSGlobalObject* globalObject,
                 JSC::SourceOrigin origin = JSC::SourceOrigin(WTF::URL(moduleKey));
                 JSC::SourceCode sourceCode = JSC::SourceCode(Bake::SourceProvider::create(
                     globalObject,
-                    source.toWTFString(),
+                    source.transferToWTFString(),
                     origin,
                     WTF::move(moduleKey),
                     WTF::TextPosition(),
@@ -159,7 +160,7 @@ JSC::JSPromise* bakeModuleLoaderFetch(JSC::JSGlobalObject* globalObject,
             // it, because `moduleLoaderFetch(...)` may read the path from disk
             // and so we need to give a Windows path to it.
             auto temp = BakeToWindowsPath(Bun::toString(bakePrefixRemoved));
-            bakePrefixRemoved = temp.toWTFString();
+            bakePrefixRemoved = temp.transferToWTFString();
 #endif
             JSString* bakePrefixRemovedString = jsNontrivialString(vm, bakePrefixRemoved);
             JSValue bakePrefixRemovedJsvalue = bakePrefixRemovedString;
diff --git a/src/runtime/bake/BakeSourceProvider.cpp b/src/runtime/bake/BakeSourceProvider.cpp
index b337c9f3f218..a951e855aaef 100644
--- a/src/runtime/bake/BakeSourceProvider.cpp
+++ b/src/runtime/bake/BakeSourceProvider.cpp
@@ -58,6 +58,7 @@ extern "C" JSC::JSPromise* BakeLoadModuleByKey(GlobalObject* global, JSC::JSStri
   return JSC::loadAndEvaluateModule(global, key->getString(global), nullptr, nullptr);
 }
 
+// Both HMR patch entry points take ownership of `source` (DevServer.rs passes an OwnedString).
 extern "C" JSC::EncodedJSValue BakeLoadServerHmrPatch(GlobalObject* global, BunString source) {
   JSC::VM&vm = global->vm();
   auto scope = DECLARE_THROW_SCOPE(vm);
@@ -66,7 +67,7 @@ extern "C" JSC::EncodedJSValue BakeLoadServerHmrPatch(GlobalObject* global, BunS
   JSC::SourceOrigin origin = JSC::SourceOrigin(WTF::URL(string));
   JSC::SourceCode sourceCode = JSC::SourceCode(SourceProvider::create(
     global,
-    source.toWTFString(),
+    source.transferToWTFString(),
     origin,
     WTF::move(string),
     WTF::TextPosition(),
@@ -90,7 +91,7 @@ extern "C" JSC::EncodedJSValue BakeLoadServerHmrPatchWithSourceMap(GlobalObject*
   // Use DevServerSourceProvider with the source map JSON
   auto provider = DevServerSourceProvider::create(
     global,
-    source.toWTFString(),
+    source.transferToWTFString(),
     sourceMapJSONPtr,
     sourceMapJSONLength,
     origin,
diff --git a/src/runtime/bake/DevServer.rs b/src/runtime/bake/DevServer.rs
index e8f6e34786c5..ad48b6daad6e 100644
--- a/src/runtime/bake/DevServer.rs
+++ b/src/runtime/bake/DevServer.rs
@@ -4254,7 +4254,7 @@ pub(super) fn finalize_bundle(
 
             match c::bake_load_server_hmr_patch_with_source_map(
                 global,
-                BunString::clone_utf8(&server_bundle),
+                OwnedString::new(BunString::clone_utf8(&server_bundle)),
                 json.as_ptr(),
                 json.len(),
             ) {
@@ -4272,7 +4272,10 @@ pub(super) fn finalize_bundle(
                 }
             }
         } else {
-            match c::bake_load_server_hmr_patch(global, BunString::clone_latin1(&server_bundle)) {
+            match c::bake_load_server_hmr_patch(
+                global,
+                OwnedString::new(BunString::clone_latin1(&server_bundle)),
+            ) {
                 Ok(v) => v,
                 Err(err) => {
                     // SAFETY: vm is JSC_BORROW — valid for DevServer lifetime;
@@ -5560,19 +5563,21 @@ impl DevServer {
 mod c {
     use super::*;
 
+    /// The C++ side releases `code` (transferToWTFString).
     pub(super) fn bake_load_server_hmr_patch(
         global: &JSGlobalObject,
-        code: BunString,
+        code: OwnedString,
     ) -> JsResult<JSValue> {
         unsafe extern "C" {
             safe fn BakeLoadServerHmrPatch(global: &JSGlobalObject, code: BunString) -> JSValue;
         }
-        jsc::from_js_host_call(global, || BakeLoadServerHmrPatch(global, code))
+        jsc::from_js_host_call(global, || BakeLoadServerHmrPatch(global, code.into_inner()))
     }
 
+    /// The C++ side releases `code` (transferToWTFString).
     pub(super) fn bake_load_server_hmr_patch_with_source_map(
         global: &JSGlobalObject,
-        code: BunString,
+        code: OwnedString,
         source_map_json_ptr: *const u8,
         source_map_json_len: usize,
     ) -> JsResult<JSValue> {
@@ -5595,7 +5600,7 @@ mod c {
         jsc::from_js_host_call(global, || unsafe {
             BakeLoadServerHmrPatchWithSourceMap(
                 global,
-                code,
+                code.into_inner(),
                 source_map_json_ptr,
                 source_map_json_len,
             )
diff --git a/src/runtime/bake/production.rs b/src/runtime/bake/production.rs
index 81c32d956928..05957c95f5cf 100644
--- a/src/runtime/bake/production.rs
+++ b/src/runtime/bake/production.rs
@@ -20,8 +20,8 @@ use bun_bundler::options::{self as bundler_options, OutputFile, SourceMapOption}
 use bun_bundler::output_file::Index as OutputFileIndex;
 
 use bun_collections::{AutoBitSet, StringArrayHashMap};
-use bun_core::String as BunString;
 use bun_core::{Global, Output};
+use bun_core::{OwnedString, String as BunString};
 use bun_dotenv as dotenv;
 use bun_jsc::js_promise::{UnwrapMode, Unwrapped};
 use bun_jsc::virtual_machine::VirtualMachine;
@@ -332,8 +332,9 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
         }
     };
 
-    let config_entry_point_string =
-        BunString::clone_utf8(config_entry_point.path_const().unwrap().text);
+    let config_entry_point_string = OwnedString::new(BunString::clone_utf8(
+        config_entry_point.path_const().unwrap().text,
+    ));
 
     let Some(config_promise) =
         JSModuleLoader::load_and_evaluate_module_ptr(vm.global, Some(&config_entry_point_string))
@@ -657,7 +658,9 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
     // Client files go to disk.
     // Server files get loaded in memory.
     // Populate indexes in `entry_points` to be looked up during prerendering
-    let mut module_keys: Vec<BunString> = vec![BunString::dead(); entry_points.files.count()];
+    let mut module_keys: Vec<OwnedString> = (0..entry_points.files.count())
+        .map(|_| OwnedString::new(BunString::dead()))
+        .collect();
     let mut output_module_map: StringArrayHashMap<OutputFileIndex> = StringArrayHashMap::default();
     let mut source_maps: StringArrayHashMap<OutputFileIndex> = StringArrayHashMap::default();
     {
@@ -748,7 +751,7 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
                                         BStr::new(without_prefix)
                                     ));
                                     str.to_thread_safe();
-                                    module_keys[entry_point_index as usize] = str;
+                                    module_keys[entry_point_index as usize] = OwnedString::new(str);
                                 }
                             }
 
@@ -825,15 +828,14 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
 
     for (i, router_type) in router.types.iter().enumerate() {
         if let Some(client_file) = router_type.client_file {
-            let str = BunString::create_format(format_args!(
+            let mut url = BunString::create_format(format_args!(
                 "{}{}",
                 BStr::new(public_path),
                 BStr::new(&pt.output_file(client_file).dest_path),
-            ))
-            .to_js(global)
-            .map_err(js_err)?;
+            ));
+            let url = jsc::bun_string_jsc::transfer_to_js(&mut url, global).map_err(js_err)?;
             client_entry_urls
-                .put_index(global, u32::try_from(i).expect("int cast"), str)
+                .put_index(global, u32::try_from(i).expect("int cast"), url)
                 .map_err(js_err)?;
         } else {
             client_entry_urls
@@ -928,15 +930,15 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
         debug_assert!(output_file.dest_path[0] != b'.');
         // CSS chunks must be in contiguous order!!
         debug_assert!(output_file.loader.is_css());
+        let mut url = BunString::create_format(format_args!(
+            "{}{}",
+            BStr::new(public_path),
+            BStr::new(&output_file.dest_path),
+        ));
         css_chunk_js_strings.push(
-            BunString::create_format(format_args!(
-                "{}{}",
-                BStr::new(public_path),
-                BStr::new(&output_file.dest_path),
-            ))
-            .to_js(global)
-            .map_err(js_err)?
-            .protected(),
+            jsc::bun_string_jsc::transfer_to_js(&mut url, global)
+                .map_err(js_err)?
+                .protected(),
         );
     }
 
@@ -1104,12 +1106,12 @@ fn build_with_vm(ctx: Context, cwd: &[u8], pt: &mut PerThread) -> crate::Result<
         }
 
         // Init the items
-        let pattern_string = BunString::clone_utf8(pattern.slice());
+        let mut pattern_string = BunString::clone_utf8(pattern.slice());
         route_patterns
             .put_index(
                 global,
                 u32::try_from(nav_index).expect("int cast"),
-                pattern_string.to_js(global).map_err(js_err)?,
+                jsc::bun_string_jsc::transfer_to_js(&mut pattern_string, global).map_err(js_err)?,
             )
             .map_err(js_err)?;
 
@@ -1448,7 +1450,7 @@ pub struct PerThread {
     pub(crate) entry_points: EntryPointMap,
     pub(crate) bundled_outputs: Vec<OutputFile>,
     /// Indexed by entry point index (OpaqueFileId)
-    pub(crate) module_keys: Vec<BunString>,
+    pub(crate) module_keys: Vec<OwnedString>,
     /// Unordered
     pub(crate) module_map: StringArrayHashMap<OutputFileIndex>,
     pub(crate) source_maps: StringArrayHashMap<OutputFileIndex>,
@@ -1513,7 +1515,7 @@ impl PerThread {
         vm: *mut VirtualMachine,
         entry_points: EntryPointMap,
         bundled_outputs: Vec<OutputFile>,
-        module_keys: Vec<BunString>,
+        module_keys: Vec<OwnedString>,
         module_map: StringArrayHashMap<OutputFileIndex>,
         source_maps: StringArrayHashMap<OutputFileIndex>,
     ) -> crate::Result<PerThread> {
diff --git a/test/bake/dev/production.test.ts b/test/bake/dev/production.test.ts
index 1335e3244c00..cc98f61e9865 100644
--- a/test/bake/dev/production.test.ts
+++ b/test/bake/dev/production.test.ts
@@ -1,6 +1,6 @@
 import { describe, expect, test } from "bun:test";
 import { existsSync } from "fs";
-import { bunEnv, bunExe } from "harness";
+import { bunEnv, bunExe, isASAN, isWindows } from "harness";
 import path from "path";
 import { tempDirWithBakeDeps } from "../bake-harness";
 
@@ -594,4 +594,134 @@ export default function IndexPage() {
     // Verify NO JavaScript imports are included in the HTML
     expect(htmlContent).not.toContain('<script type="module"');
   });
+
+  // Every BunString production.rs creates (module keys from BakeProdResolve,
+  // chunk sources from BakeProdLoad, the config path, route patterns, client
+  // entry URLs) carries a reference that exactly one consumer has to release:
+  // transferToWTFString() in BakeGlobalObject.cpp, transfer_to_js()/OwnedString
+  // in production.rs. The build used to read them with toWTFString()/to_js(),
+  // which take a reference of their own and leave that one behind, so every
+  // import edge resolved and every chunk loaded while prerendering leaked its
+  // string. Only LeakSanitizer can see that, and only with Malloc=1: WTF strings
+  // otherwise live in bmalloc, which LSan does not track.
+  describe.skipIf(!isASAN || isWindows)("strings created for the build are released", () => {
+    // Both pages statically import one shared chunk and dynamically import
+    // another, so the same "bake:/..." keys are resolved more than once through
+    // bakeModuleLoaderResolve (static imports) and bakeModuleLoaderImportModule
+    // (import()). Only a repeat resolution leaks a string LSan can report: the
+    // first one's string becomes the interned module key, which the atom table
+    // still points at.
+    const app = (aboutPageBody: string) => ({
+      "src/index.tsx": `export default { app: { framework: "react" } };`,
+      "components/Shared.tsx": `export function Shared({ page }: { page: string }) {
+  return <p>{"shared from " + page}</p>;
+}`,
+      "components/lazy.ts": `export const lazy = "lazy";`,
+      "pages/index.tsx": `import { Shared } from "../components/Shared";
+
+export default async function IndexPage() {
+  const { lazy } = await import("../components/lazy");
+  return <div>{"index " + lazy}<Shared page="index" /></div>;
+}`,
+      "pages/about.tsx": `import { Shared } from "../components/Shared";
+
+export default async function AboutPage() {
+  const { lazy } = await import("../components/lazy");
+  ${aboutPageBody}
+}`,
+    });
+
+    async function buildUnderLeakSanitizer(dir: string, env: Record<string, string> = {}): Promise<string> {
+      const { stderr } = await Bun.$`${bunExe()} build --app ./src/index.tsx`
+        .cwd(dir)
+        .env({
+          ...bunEnv,
+          ...env,
+          Malloc: "1",
+          ASAN_OPTIONS: "allow_user_segv_handler=1:disable_coredump=0:detect_leaks=1",
+          // With Malloc=1 about 20 bmalloc frames sit between malloc and the
+          // code that created the string; keep that code in view. log_threads
+          // makes the leak check announce itself even when it finds nothing.
+          LSAN_OPTIONS: "malloc_context_size=40:log_threads=1",
+        })
+        .quiet()
+        .throws(false);
+      const output = stderr.toString();
+      expect(output).toContain("Processing thread");
+      return output;
+    }
+    // LSan symbolizes every record it reports through llvm-symbolizer, which
+    // takes tens of seconds against the debug binary on a loaded machine.
+    const leakScanTimeout = 120_000;
+
+    // LSan prints one record per allocation site: "Direct leak of N byte(s) in
+    // M object(s) allocated from:" followed by "#k 0x... in <function> <file>"
+    // frames. `bun build --app` still leaks unrelated process-lifetime bundler
+    // state, so neither the report as a whole nor the exit code LSan forces
+    // means anything here. Every BunString is created through bun_core::String
+    // and the BunString__* exports of BunString.cpp, so the records with those
+    // on the stack are exactly the strings this build created and never
+    // released. Each is reduced to the two frames above the string machinery,
+    // so a failure reads as "who created it".
+    const stringMachinery = /\bBunString__\w+|bun_core::string::/;
+    function leakedBunStrings(stderr: string): string[] {
+      return stderr
+        .split(/^(?=(?:Direct|Indirect) leak of )/m)
+        .filter(record => stringMachinery.test(record))
+        .map(record => {
+          const [header, ...lines] = record.split("\n");
+          const frames = lines.map(line => line.trim().replace(/^#\d+ 0x[0-9a-f]+ in /, ""));
+          const created = frames.findIndex(frame => stringMachinery.test(frame));
+          const creators = frames
+            .slice(created)
+            .filter(frame => !stringMachinery.test(frame))
+            .slice(0, 2)
+            .map(frame => frame.replace(/\(.*\) /, "() ").replace(/ \S*\/src\//, " src/"));
+          return [header, ...creators].join("\n");
+        });
+    }
+
+    test.concurrent(
+      "after a successful build",
+      async () => {
+        const dir = await tempDirWithBakeDeps(
+          "bake-production-string-leaks",
+          app(`return <div>{"about " + lazy}<Shared page="about" /></div>;`),
+        );
+
+        const stderr = await buildUnderLeakSanitizer(dir);
+
+        // Both pages rendered, so every import above was resolved and loaded.
+        const indexHtml = await Bun.file(path.join(dir, "dist", "index.html")).text();
+        const aboutHtml = await Bun.file(path.join(dir, "dist", "about", "index.html")).text();
+        expect(indexHtml).toContain("<div>index lazy<p>shared from index</p></div>");
+        expect(aboutHtml).toContain("<div>about lazy<p>shared from about</p></div>");
+        expect(leakedBunStrings(stderr)).toEqual([]);
+      },
+      leakScanTimeout,
+    );
+
+    // A successful build exits without tearing its VM down, and the VM's module
+    // registry and JS strings keep most of these strings reachable (the chunk
+    // sources BakeProdLoad returns, the config path, the client entry URL), so
+    // a leaked reference to them goes unreported above. A failing build exits
+    // through the VM's exit path, so under BUN_DESTRUCT_VM_ON_EXIT the VM lets
+    // go of them and only a leaked reference would be left holding them.
+    test.concurrent(
+      "after a failed build tears the VM down",
+      async () => {
+        const dir = await tempDirWithBakeDeps(
+          "bake-production-string-leaks-teardown",
+          app(`throw new Error("about page failed to render");`),
+        );
+
+        const stderr = await buildUnderLeakSanitizer(dir, { BUN_DESTRUCT_VM_ON_EXIT: "1" });
+
+        // The build got as far as loading and running the page modules.
+        expect(stderr).toContain("about page failed to render");
+        expect(leakedBunStrings(stderr)).toEqual([]);
+      },
+      leakScanTimeout,
+    );
+  });
 });