dbt-labs/dbt-core v1.12.1 on GitHub

dbt-core 1.12.1 - August 12, 2026

Add OpenTelemetry span instrumentation for node and hook execution, gated behind the --snowflake-projects-otel flag (off by default) (#11367)

Fix dbt build node count ("X of Y") being inflated when unit tests are selected, by adding the unit test count to num_nodes exactly once instead of on every dequeue while run_count is still 0 (#11185)
Stop resolving a unit test's tested model eagerly at parse time; resolve it only in the single deterministic post-parse pass so resolution no longer depends on filesystem parse order at all (deeper fix for (#11139)
Re-parse adapter macros from the installed adapter package after loading a Fusion-generated manifest, ensuring the user's installed dbt- version is used instead of Fusion's compile-time bundled copy (#15527)
Fix OpenTelemetry hook spans: name them by hook and transaction phase, skip calls that run no hooks, and add node context and status. (#11367)