diff --git a/.azure/gpu-benchmarks.yml b/.azure/gpu-benchmarks.yml
index 111589945e048..24b78542a798a 100644
--- a/.azure/gpu-benchmarks.yml
+++ b/.azure/gpu-benchmarks.yml
@@ -46,7 +46,7 @@ jobs:
     variables:
       DEVICES: $( python -c 'print("$(Agent.Name)".split("_")[-1])' )
     container:
-      image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.4-cuda12.1.0"
+      image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.5-cuda12.1.0"
       options: "--gpus=all --shm-size=32g"
     strategy:
       matrix:
diff --git a/.azure/gpu-tests-fabric.yml b/.azure/gpu-tests-fabric.yml
index e63641b8ecc7d..ee7fe2e281478 100644
--- a/.azure/gpu-tests-fabric.yml
+++ b/.azure/gpu-tests-fabric.yml
@@ -60,7 +60,7 @@ jobs:
           image: "pytorchlightning/pytorch_lightning:base-cuda-py3.11-torch2.3-cuda12.1.0"
           PACKAGE_NAME: "fabric"
         "Lightning | latest":
-          image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.4-cuda12.1.0"
+          image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.5-cuda12.1.0"
           PACKAGE_NAME: "lightning"
     workspace:
       clean: all
diff --git a/.azure/gpu-tests-pytorch.yml b/.azure/gpu-tests-pytorch.yml
index 56c0ace195ed0..c014d84663c21 100644
--- a/.azure/gpu-tests-pytorch.yml
+++ b/.azure/gpu-tests-pytorch.yml
@@ -53,7 +53,7 @@ jobs:
           image: "pytorchlightning/pytorch_lightning:base-cuda-py3.11-torch2.3-cuda12.1.0"
           PACKAGE_NAME: "pytorch"
         "Lightning | latest":
-          image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.4-cuda12.1.0"
+          image: "pytorchlightning/pytorch_lightning:base-cuda-py3.12-torch2.5-cuda12.1.0"
           PACKAGE_NAME: "lightning"
     pool: lit-rtx-3090
     variables:
diff --git a/.github/checkgroup.yml b/.github/checkgroup.yml
index 20875df42c5a8..edbb36c9fd684 100644
--- a/.github/checkgroup.yml
+++ b/.github/checkgroup.yml
@@ -24,16 +24,19 @@ subprojects:
       - "pl-cpu (macOS-14, lightning, 3.11, 2.2)"
       - "pl-cpu (macOS-14, lightning, 3.11, 2.3)"
       - "pl-cpu (macOS-14, lightning, 3.12, 2.4)"
+      - "pl-cpu (macOS-14, lightning, 3.12, 2.5)"
       - "pl-cpu (ubuntu-20.04, lightning, 3.9, 2.1, oldest)"
       - "pl-cpu (ubuntu-20.04, lightning, 3.10, 2.1)"
       - "pl-cpu (ubuntu-20.04, lightning, 3.11, 2.2)"
       - "pl-cpu (ubuntu-20.04, lightning, 3.11, 2.3)"
-      - "pl-cpu (ubuntu-20.04, lightning, 3.12, 2.4)"
+      - "pl-cpu (ubuntu-22.04, lightning, 3.12, 2.4)"
+      - "pl-cpu (ubuntu-22.04, lightning, 3.12, 2.5)"
       - "pl-cpu (windows-2022, lightning, 3.9, 2.1, oldest)"
       - "pl-cpu (windows-2022, lightning, 3.10, 2.1)"
       - "pl-cpu (windows-2022, lightning, 3.11, 2.2)"
       - "pl-cpu (windows-2022, lightning, 3.11, 2.3)"
       - "pl-cpu (windows-2022, lightning, 3.12, 2.4)"
+      - "pl-cpu (windows-2022, lightning, 3.12, 2.5)"
       - "pl-cpu (macOS-14, pytorch, 3.9, 2.1)"
       - "pl-cpu (ubuntu-20.04, pytorch, 3.9, 2.1)"
       - "pl-cpu (windows-2022, pytorch, 3.9, 2.1)"
@@ -141,15 +144,17 @@ subprojects:
       - "!*.md"
       - "!**/*.md"
     checks:
-      - "build-cuda (3.11, 2.1, 12.1.0)"
+      - "build-cuda (3.10, 2.1, 12.1.0)"
       - "build-cuda (3.11, 2.2, 12.1.0)"
       - "build-cuda (3.11, 2.3, 12.1.0)"
       - "build-cuda (3.12, 2.4, 12.1.0)"
+      - "build-cuda (3.12, 2.5, 12.1.0)"
       #- "build-NGC"
-      - "build-pl (3.11, 2.1, 12.1.0)"
+      - "build-pl (3.10, 2.1, 12.1.0)"
       - "build-pl (3.11, 2.2, 12.1.0)"
       - "build-pl (3.11, 2.3, 12.1.0)"
       - "build-pl (3.12, 2.4, 12.1.0)"
+      - "build-pl (3.12, 2.5, 12.1.0)"
 
   # SECTION: lightning_fabric
 
@@ -171,16 +176,19 @@ subprojects:
       - "fabric-cpu (macOS-14, lightning, 3.11, 2.2)"
       - "fabric-cpu (macOS-14, lightning, 3.11, 2.3)"
       - "fabric-cpu (macOS-14, lightning, 3.12, 2.4)"
+      - "fabric-cpu (macOS-14, lightning, 3.12, 2.5)"
       - "fabric-cpu (ubuntu-20.04, lightning, 3.9, 2.1, oldest)"
       - "fabric-cpu (ubuntu-20.04, lightning, 3.10, 2.1)"
       - "fabric-cpu (ubuntu-20.04, lightning, 3.11, 2.2)"
       - "fabric-cpu (ubuntu-20.04, lightning, 3.11, 2.3)"
-      - "fabric-cpu (ubuntu-20.04, lightning, 3.12, 2.4)"
+      - "fabric-cpu (ubuntu-22.04, lightning, 3.12, 2.4)"
+      - "fabric-cpu (ubuntu-22.04, lightning, 3.12, 2.5)"
       - "fabric-cpu (windows-2022, lightning, 3.9, 2.1, oldest)"
       - "fabric-cpu (windows-2022, lightning, 3.10, 2.1)"
       - "fabric-cpu (windows-2022, lightning, 3.11, 2.2)"
       - "fabric-cpu (windows-2022, lightning, 3.11, 2.3)"
       - "fabric-cpu (windows-2022, lightning, 3.12, 2.4)"
+      - "fabric-cpu (windows-2022, lightning, 3.12, 2.5)"
       - "fabric-cpu (macOS-14, fabric, 3.9, 2.1)"
       - "fabric-cpu (ubuntu-20.04, fabric, 3.9, 2.1)"
       - "fabric-cpu (windows-2022, fabric, 3.9, 2.1)"
diff --git a/.github/workflows/ci-tests-fabric.yml b/.github/workflows/ci-tests-fabric.yml
index 06616650deb9c..7b7fc6af6eae9 100644
--- a/.github/workflows/ci-tests-fabric.yml
+++ b/.github/workflows/ci-tests-fabric.yml
@@ -50,8 +50,11 @@ jobs:
           - { os: "ubuntu-20.04", pkg-name: "lightning", python-version: "3.11", pytorch-version: "2.3" }
           - { os: "windows-2022", pkg-name: "lightning", python-version: "3.11", pytorch-version: "2.3" }
           - { os: "macOS-14", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
-          - { os: "ubuntu-20.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
+          - { os: "ubuntu-22.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
           - { os: "windows-2022", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
+          - { os: "macOS-14", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
+          - { os: "ubuntu-22.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
+          - { os: "windows-2022", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
           # only run PyTorch latest with Python latest, use Fabric scope to limit dependency issues
           - { os: "macOS-12", pkg-name: "fabric", python-version: "3.10", pytorch-version: "2.1" }
           - { os: "ubuntu-22.04", pkg-name: "fabric", python-version: "3.10", pytorch-version: "2.1" }
diff --git a/.github/workflows/ci-tests-pytorch.yml b/.github/workflows/ci-tests-pytorch.yml
index 4de22a24f36e6..d841e93da7fbd 100644
--- a/.github/workflows/ci-tests-pytorch.yml
+++ b/.github/workflows/ci-tests-pytorch.yml
@@ -54,8 +54,11 @@ jobs:
           - { os: "ubuntu-20.04", pkg-name: "lightning", python-version: "3.11", pytorch-version: "2.3" }
           - { os: "windows-2022", pkg-name: "lightning", python-version: "3.11", pytorch-version: "2.3" }
           - { os: "macOS-14", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
-          - { os: "ubuntu-20.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
+          - { os: "ubuntu-22.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
           - { os: "windows-2022", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.4" }
+          - { os: "macOS-14", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
+          - { os: "ubuntu-22.04", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
+          - { os: "windows-2022", pkg-name: "lightning", python-version: "3.12", pytorch-version: "2.5" }
           # only run PyTorch latest with Python latest, use PyTorch scope to limit dependency issues
           - { os: "macOS-12", pkg-name: "pytorch", python-version: "3.10", pytorch-version: "2.1" }
           - { os: "ubuntu-22.04", pkg-name: "pytorch", python-version: "3.10", pytorch-version: "2.1" }
diff --git a/.github/workflows/docker-build.yml b/.github/workflows/docker-build.yml
index 6df2b8cbb73d3..bfa8870e4d3dd 100644
--- a/.github/workflows/docker-build.yml
+++ b/.github/workflows/docker-build.yml
@@ -43,10 +43,11 @@ jobs:
         include:
           # We only release one docker image per PyTorch version.
           # Make sure the matrix here matches the one below.
-          - { python_version: "3.11", pytorch_version: "2.1", cuda_version: "12.1.0" }
+          - { python_version: "3.10", pytorch_version: "2.1", cuda_version: "12.1.0" }
           - { python_version: "3.11", pytorch_version: "2.2", cuda_version: "12.1.0" }
           - { python_version: "3.11", pytorch_version: "2.3", cuda_version: "12.1.0" }
-          - { python_version: "3.12", pytorch_version: "2.4", cuda_version: "12.1.0" }
+          - { python_version: "3.11", pytorch_version: "2.4", cuda_version: "12.1.0" }
+          - { python_version: "3.12", pytorch_version: "2.5", cuda_version: "12.1.0" }
     steps:
       - uses: actions/checkout@v4
         with:
@@ -103,10 +104,11 @@ jobs:
         include:
           # These are the base images for PL release docker images.
           # Make sure the matrix here matches the one above.
-          - { python_version: "3.11", pytorch_version: "2.1", cuda_version: "12.1.0" }
-          - { python_version: "3.11", pytorch_version: "2.2", cuda_version: "12.1.0" }
-          - { python_version: "3.11", pytorch_version: "2.3", cuda_version: "12.1.0" }
-          - { python_version: "3.12", pytorch_version: "2.4", cuda_version: "12.1.0" }
+          - { python_version: "3.10", pytorch_version: "2.1.0", cuda_version: "12.1.0" }
+          - { python_version: "3.11", pytorch_version: "2.2.2", cuda_version: "12.1.0" }
+          - { python_version: "3.11", pytorch_version: "2.3.1", cuda_version: "12.1.0" }
+          - { python_version: "3.11", pytorch_version: "2.4.1", cuda_version: "12.1.0" }
+          - { python_version: "3.12", pytorch_version: "2.5.0", cuda_version: "12.1.0" }
     steps:
       - uses: actions/checkout@v4
       - uses: docker/setup-buildx-action@v3
@@ -115,6 +117,12 @@ jobs:
         with:
           username: ${{ secrets.DOCKER_USERNAME }}
           password: ${{ secrets.DOCKER_PASSWORD }}
+
+      - name: shorten Torch version
+        run: |
+          # convert 1.10.2 to 1.10
+          pt_version=$(echo ${{ matrix.pytorch_version }} | cut -d. -f1,2)
+          echo "PT_VERSION=$pt_version" >> $GITHUB_ENV
       - uses: docker/build-push-action@v6
         with:
           build-args: |
@@ -123,7 +131,7 @@ jobs:
             CUDA_VERSION=${{ matrix.cuda_version }}
           file: dockers/base-cuda/Dockerfile
           push: ${{ env.PUSH_NIGHTLY }}
-          tags: "pytorchlightning/pytorch_lightning:base-cuda-py${{ matrix.python_version }}-torch${{ matrix.pytorch_version }}-cuda${{ matrix.cuda_version }}"
+          tags: "pytorchlightning/pytorch_lightning:base-cuda-py${{ matrix.python_version }}-torch${{ env.PT_VERSION }}-cuda${{ matrix.cuda_version }}"
         timeout-minutes: 95
       - uses: ravsamhq/notify-slack-action@v2
         if: failure() && env.PUSH_NIGHTLY == 'true'
diff --git a/requirements/fabric/base.txt b/requirements/fabric/base.txt
index 0a99614a46870..42c055e85ca7d 100644
--- a/requirements/fabric/base.txt
+++ b/requirements/fabric/base.txt
@@ -1,7 +1,7 @@
 # NOTE: the upper bound for the package version is only set for CI stability, and it is dropped while installing this package
 #  in case you want to preserve/enforce restrictions on the latest compatible version, add "strict" as an in-line comment
 
-torch >=2.1.0, <2.5.0
+torch >=2.1.0, <2.6.0
 fsspec[http] >=2022.5.0, <2024.4.0
 packaging >=20.0, <=23.1
 typing-extensions >=4.4.0, <4.10.0
diff --git a/requirements/fabric/examples.txt b/requirements/fabric/examples.txt
index cb4135da2409a..3352db77d8bd9 100644
--- a/requirements/fabric/examples.txt
+++ b/requirements/fabric/examples.txt
@@ -1,6 +1,6 @@
 # NOTE: the upper bound for the package version is only set for CI stability, and it is dropped while installing this package
 #  in case you want to preserve/enforce restrictions on the latest compatible version, add "strict" as an in-line comment
 
-torchvision >=0.16.0, <0.20.0
-torchmetrics >=0.10.0, <1.3.0
+torchvision >=0.16.0, <0.21.0
+torchmetrics >=0.10.0, <1.5.0
 lightning-utilities >=0.8.0, <0.12.0
diff --git a/requirements/fabric/test.txt b/requirements/fabric/test.txt
index 8fb9122051eec..2da6ae8854d64 100644
--- a/requirements/fabric/test.txt
+++ b/requirements/fabric/test.txt
@@ -7,4 +7,4 @@ pytest-rerunfailures ==12.0
 pytest-random-order ==1.1.0
 click ==8.1.7
 tensorboardX >=2.2, <2.7.0  # min version is set by torch.onnx missing attribute
-torchmetrics >=0.7.0, <1.3.0 # needed for using fixed compare_version
+torchmetrics >=0.7.0, <1.5.0 # needed for using fixed compare_version
diff --git a/requirements/pytorch/base.txt b/requirements/pytorch/base.txt
index 6ff628d7edfb5..94aca759c37e2 100644
--- a/requirements/pytorch/base.txt
+++ b/requirements/pytorch/base.txt
@@ -1,11 +1,11 @@
 # NOTE: the upper bound for the package version is only set for CI stability, and it is dropped while installing this package
 #  in case you want to preserve/enforce restrictions on the latest compatible version, add "strict" as an in-line comment
 
-torch >=2.1.0, <2.5.0
+torch >=2.1.0, <2.6.0
 tqdm >=4.57.0, <4.67.0
 PyYAML >=5.4, <6.1.0
 fsspec[http] >=2022.5.0, <2024.4.0
-torchmetrics >=0.7.0, <1.3.0  # needed for using fixed compare_version
+torchmetrics >=0.7.0, <1.5.0  # needed for using fixed compare_version
 packaging >=20.0, <=23.1
 typing-extensions >=4.4.0, <4.10.0
 lightning-utilities >=0.10.0, <0.12.0
diff --git a/requirements/pytorch/examples.txt b/requirements/pytorch/examples.txt
index 9a6ae7e47dfb8..2e793e0045da9 100644
--- a/requirements/pytorch/examples.txt
+++ b/requirements/pytorch/examples.txt
@@ -2,7 +2,7 @@
 #  in case you want to preserve/enforce restrictions on the latest compatible version, add "strict" as an in-line comment
 
 requests <2.32.0
-torchvision >=0.16.0, <0.20.0
+torchvision >=0.16.0, <0.21.0
 ipython[all] <8.15.0
-torchmetrics >=0.10.0, <1.3.0
+torchmetrics >=0.10.0, <1.5.0
 lightning-utilities >=0.8.0, <0.12.0
diff --git a/requirements/typing.txt b/requirements/typing.txt
index 0323edfd6098a..e367fa9bd0c5a 100644
--- a/requirements/typing.txt
+++ b/requirements/typing.txt
@@ -1,5 +1,5 @@
 mypy==1.11.0
-torch==2.4.1
+torch==2.5.0
 
 types-Markdown
 types-PyYAML