diff --git a/package.json b/package.json
index f2444f3cc2e17..b440056f54b82 100644
--- a/package.json
+++ b/package.json
@@ -63,7 +63,7 @@
     "eslint-plugin-react-internal": "link:./scripts/eslint-rules",
     "fbjs-scripts": "1.2.0",
     "filesize": "^6.0.1",
-    "flow-bin": "^0.132",
+    "flow-bin": "^0.140",
     "glob": "^7.1.6",
     "glob-stream": "^6.1.0",
     "google-closure-compiler": "^20200517.0.0",
diff --git a/packages/react-cache/src/LRU.js b/packages/react-cache/src/LRU.js
index 9a90cc8a3ede7..8462849c4463b 100644
--- a/packages/react-cache/src/LRU.js
+++ b/packages/react-cache/src/LRU.js
@@ -23,7 +23,14 @@ type Entry<T> = {
   next: Entry<T>,
 };
 
-export function createLRU<T>(limit: number) {
+type LRU<T> = {
+  add(value: Object, onDelete: () => mixed): Entry<Object>,
+  update(entry: Entry<T>, newValue: T): void,
+  access(entry: Entry<T>): T,
+  setLimit(newLimit: number): void,
+};
+
+export function createLRU<T>(limit: number): LRU<T> {
   let LIMIT = limit;
 
   // Circular, doubly-linked list
@@ -135,7 +142,7 @@ export function createLRU<T>(limit: number) {
     return entry.value;
   }
 
-  function setLimit(newLimit: number) {
+  function setLimit(newLimit: number): void {
     LIMIT = newLimit;
     scheduleCleanUp();
   }
diff --git a/packages/react-cache/src/ReactCacheOld.js b/packages/react-cache/src/ReactCacheOld.js
index 8781899dc2ae7..9693113b49d0e 100644
--- a/packages/react-cache/src/ReactCacheOld.js
+++ b/packages/react-cache/src/ReactCacheOld.js
@@ -122,6 +122,7 @@ function accessResult<I, K, V>(
       status: Pending,
       value: thenable,
     };
+    // $FlowFixMe[escaped-generic] discovered when updating Flow
     const newEntry = lru.add(newResult, deleteEntry.bind(null, resource, key));
     entriesForResource.set(key, newEntry);
     return newResult;
diff --git a/packages/react-dom/src/client/ReactDOMInput.js b/packages/react-dom/src/client/ReactDOMInput.js
index a4b8dede45a73..8d9ea1f45a431 100644
--- a/packages/react-dom/src/client/ReactDOMInput.js
+++ b/packages/react-dom/src/client/ReactDOMInput.js
@@ -177,6 +177,7 @@ export function updateWrapper(element: Element, props: Object) {
   if (value != null) {
     if (type === 'number') {
       if (
+        // $FlowFixMe[incompatible-type]
         (value === 0 && node.value === '') ||
         // We explicitly want to coerce to number here if possible.
         // eslint-disable-next-line
diff --git a/packages/react-dom/src/server/ReactDOMFizzServerNode.js b/packages/react-dom/src/server/ReactDOMFizzServerNode.js
index facfe3f80c33d..089d24bf7b277 100644
--- a/packages/react-dom/src/server/ReactDOMFizzServerNode.js
+++ b/packages/react-dom/src/server/ReactDOMFizzServerNode.js
@@ -10,6 +10,7 @@
 import type {ReactNodeList} from 'shared/ReactTypes';
 import type {Writable} from 'stream';
 import type {BootstrapScriptDescriptor} from './ReactDOMServerFormatConfig';
+import type {Destination} from 'react-server/src/ReactServerStreamConfigNode';
 
 import ReactVersion from 'shared/ReactVersion';
 
@@ -25,7 +26,7 @@ import {
   createRootFormatContext,
 } from './ReactDOMServerFormatConfig';
 
-function createDrainHandler(destination, request) {
+function createDrainHandler(destination: Destination, request) {
   return () => startFlowing(request, destination);
 }
 
diff --git a/packages/react-reconciler/src/ReactFiberClassUpdateQueue.new.js b/packages/react-reconciler/src/ReactFiberClassUpdateQueue.new.js
index a38d9aaecb8c6..5bdc8fc6a82a0 100644
--- a/packages/react-reconciler/src/ReactFiberClassUpdateQueue.new.js
+++ b/packages/react-reconciler/src/ReactFiberClassUpdateQueue.new.js
@@ -476,6 +476,7 @@ export function processUpdateQueue<State>(
   hasForceUpdate = false;
 
   if (__DEV__) {
+    // $FlowFixMe[escaped-generic] discovered when updating Flow
     currentlyProcessingQueue = queue.shared;
   }
 
diff --git a/packages/react-reconciler/src/ReactFiberClassUpdateQueue.old.js b/packages/react-reconciler/src/ReactFiberClassUpdateQueue.old.js
index 94908d61df5e3..bdff2ea93e704 100644
--- a/packages/react-reconciler/src/ReactFiberClassUpdateQueue.old.js
+++ b/packages/react-reconciler/src/ReactFiberClassUpdateQueue.old.js
@@ -476,6 +476,7 @@ export function processUpdateQueue<State>(
   hasForceUpdate = false;
 
   if (__DEV__) {
+    // $FlowFixMe[escaped-generic] discovered when updating Flow
     currentlyProcessingQueue = queue.shared;
   }
 
diff --git a/packages/react-reconciler/src/ReactFiberHooks.new.js b/packages/react-reconciler/src/ReactFiberHooks.new.js
index da2254a682eb5..96f8933fd9c65 100644
--- a/packages/react-reconciler/src/ReactFiberHooks.new.js
+++ b/packages/react-reconciler/src/ReactFiberHooks.new.js
@@ -1539,7 +1539,7 @@ function updateStoreInstance<T>(
   }
 }
 
-function subscribeToStore(fiber, inst, subscribe) {
+function subscribeToStore<T>(fiber, inst: StoreInstance<T>, subscribe) {
   const handleStoreChange = () => {
     // The store changed. Check if the snapshot changed since the last time we
     // read from the store.
@@ -1552,7 +1552,7 @@ function subscribeToStore(fiber, inst, subscribe) {
   return subscribe(handleStoreChange);
 }
 
-function checkIfSnapshotChanged(inst) {
+function checkIfSnapshotChanged<T>(inst: StoreInstance<T>): boolean {
   const latestGetSnapshot = inst.getSnapshot;
   const prevValue = inst.value;
   try {
@@ -1609,7 +1609,7 @@ function rerenderState<S>(
   return rerenderReducer(basicStateReducer, (initialState: any));
 }
 
-function pushEffect(tag, create, destroy, deps) {
+function pushEffect(tag, create, destroy, deps: Array<mixed> | void | null) {
   const effect: Effect = {
     tag,
     create,
@@ -1728,7 +1728,12 @@ function updateRef<T>(initialValue: T): {current: T} {
   return hook.memoizedState;
 }
 
-function mountEffectImpl(fiberFlags, hookFlags, create, deps): void {
+function mountEffectImpl(
+  fiberFlags,
+  hookFlags,
+  create,
+  deps: Array<mixed> | void | null,
+): void {
   const hook = mountWorkInProgressHook();
   const nextDeps = deps === undefined ? null : deps;
   currentlyRenderingFiber.flags |= fiberFlags;
@@ -1740,7 +1745,12 @@ function mountEffectImpl(fiberFlags, hookFlags, create, deps): void {
   );
 }
 
-function updateEffectImpl(fiberFlags, hookFlags, create, deps): void {
+function updateEffectImpl(
+  fiberFlags,
+  hookFlags,
+  create,
+  deps: Array<mixed> | void | null,
+): void {
   const hook = updateWorkInProgressHook();
   const nextDeps = deps === undefined ? null : deps;
   let destroy = undefined;
@@ -2395,7 +2405,7 @@ function entangleTransitionUpdate<S, A>(
   }
 }
 
-function markUpdateInDevTools(fiber, lane, action) {
+function markUpdateInDevTools<A>(fiber, lane, action: A) {
   if (__DEV__) {
     if (enableDebugTracing) {
       if (fiber.mode & DebugTracingMode) {
@@ -2490,6 +2500,7 @@ const HooksDispatcherOnMount: Dispatcher = {
 if (enableCache) {
   (HooksDispatcherOnMount: Dispatcher).getCacheSignal = getCacheSignal;
   (HooksDispatcherOnMount: Dispatcher).getCacheForType = getCacheForType;
+  // $FlowFixMe[escaped-generic] discovered when updating Flow
   (HooksDispatcherOnMount: Dispatcher).useCacheRefresh = mountRefresh;
 }
 if (enableUseHook) {
diff --git a/packages/react-reconciler/src/ReactFiberHooks.old.js b/packages/react-reconciler/src/ReactFiberHooks.old.js
index 4e53c1b2545dc..561c5c33dd8ed 100644
--- a/packages/react-reconciler/src/ReactFiberHooks.old.js
+++ b/packages/react-reconciler/src/ReactFiberHooks.old.js
@@ -1539,7 +1539,7 @@ function updateStoreInstance<T>(
   }
 }
 
-function subscribeToStore(fiber, inst, subscribe) {
+function subscribeToStore<T>(fiber, inst: StoreInstance<T>, subscribe) {
   const handleStoreChange = () => {
     // The store changed. Check if the snapshot changed since the last time we
     // read from the store.
@@ -1552,7 +1552,7 @@ function subscribeToStore(fiber, inst, subscribe) {
   return subscribe(handleStoreChange);
 }
 
-function checkIfSnapshotChanged(inst) {
+function checkIfSnapshotChanged<T>(inst: StoreInstance<T>): boolean {
   const latestGetSnapshot = inst.getSnapshot;
   const prevValue = inst.value;
   try {
@@ -1609,7 +1609,7 @@ function rerenderState<S>(
   return rerenderReducer(basicStateReducer, (initialState: any));
 }
 
-function pushEffect(tag, create, destroy, deps) {
+function pushEffect(tag, create, destroy, deps: Array<mixed> | void | null) {
   const effect: Effect = {
     tag,
     create,
@@ -1728,7 +1728,12 @@ function updateRef<T>(initialValue: T): {current: T} {
   return hook.memoizedState;
 }
 
-function mountEffectImpl(fiberFlags, hookFlags, create, deps): void {
+function mountEffectImpl(
+  fiberFlags,
+  hookFlags,
+  create,
+  deps: Array<mixed> | void | null,
+): void {
   const hook = mountWorkInProgressHook();
   const nextDeps = deps === undefined ? null : deps;
   currentlyRenderingFiber.flags |= fiberFlags;
@@ -1740,7 +1745,12 @@ function mountEffectImpl(fiberFlags, hookFlags, create, deps): void {
   );
 }
 
-function updateEffectImpl(fiberFlags, hookFlags, create, deps): void {
+function updateEffectImpl(
+  fiberFlags,
+  hookFlags,
+  create,
+  deps: Array<mixed> | void | null,
+): void {
   const hook = updateWorkInProgressHook();
   const nextDeps = deps === undefined ? null : deps;
   let destroy = undefined;
@@ -2395,7 +2405,7 @@ function entangleTransitionUpdate<S, A>(
   }
 }
 
-function markUpdateInDevTools(fiber, lane, action) {
+function markUpdateInDevTools<A>(fiber, lane, action: A) {
   if (__DEV__) {
     if (enableDebugTracing) {
       if (fiber.mode & DebugTracingMode) {
@@ -2490,6 +2500,7 @@ const HooksDispatcherOnMount: Dispatcher = {
 if (enableCache) {
   (HooksDispatcherOnMount: Dispatcher).getCacheSignal = getCacheSignal;
   (HooksDispatcherOnMount: Dispatcher).getCacheForType = getCacheForType;
+  // $FlowFixMe[escaped-generic] discovered when updating Flow
   (HooksDispatcherOnMount: Dispatcher).useCacheRefresh = mountRefresh;
 }
 if (enableUseHook) {
diff --git a/packages/react-refresh/src/ReactFreshRuntime.js b/packages/react-refresh/src/ReactFreshRuntime.js
index f440275c2a7ac..99d4d03199d70 100644
--- a/packages/react-refresh/src/ReactFreshRuntime.js
+++ b/packages/react-refresh/src/ReactFreshRuntime.js
@@ -654,6 +654,7 @@ export function createSignatureFunctionForTransform() {
         // in HOC chains like _s(hoc1(_s(hoc2(_s(actualFunction))))).
         if (!savedType) {
           // We're in the innermost call, so this is the actual type.
+          // $FlowFixMe[escaped-generic] discovered when updating Flow
           savedType = type;
           hasCustomHooks = typeof getCustomHooks === 'function';
         }
diff --git a/packages/react-server-dom-webpack/src/ReactFlightDOMServerNode.js b/packages/react-server-dom-webpack/src/ReactFlightDOMServerNode.js
index addf3758c12a8..88c6b85337dc7 100644
--- a/packages/react-server-dom-webpack/src/ReactFlightDOMServerNode.js
+++ b/packages/react-server-dom-webpack/src/ReactFlightDOMServerNode.js
@@ -8,6 +8,7 @@
  */
 
 import type {ReactModel} from 'react-server/src/ReactFlightServer';
+import type {Destination} from 'react-server/src/ReactServerStreamConfigNode';
 import type {BundlerConfig} from './ReactFlightServerWebpackBundlerConfig';
 import type {Writable} from 'stream';
 import type {ServerContextJSONValue} from 'shared/ReactTypes';
@@ -19,7 +20,7 @@ import {
   abort,
 } from 'react-server/src/ReactFlightServer';
 
-function createDrainHandler(destination, request) {
+function createDrainHandler(destination: Destination, request) {
   return () => startFlowing(request, destination);
 }
 
diff --git a/packages/use-sync-external-store/src/useSyncExternalStoreShimClient.js b/packages/use-sync-external-store/src/useSyncExternalStoreShimClient.js
index 4eb764091ae00..99cb6c65725c6 100644
--- a/packages/use-sync-external-store/src/useSyncExternalStoreShimClient.js
+++ b/packages/use-sync-external-store/src/useSyncExternalStoreShimClient.js
@@ -128,7 +128,10 @@ export function useSyncExternalStore<T>(
   return value;
 }
 
-function checkIfSnapshotChanged(inst) {
+function checkIfSnapshotChanged<T>(inst: {
+  value: T,
+  getSnapshot: () => T,
+}): boolean {
   const latestGetSnapshot = inst.getSnapshot;
   const prevValue = inst.value;
   try {
diff --git a/scripts/flow/config/flowconfig b/scripts/flow/config/flowconfig
index 9b47998da9880..b5639113089a0 100644
--- a/scripts/flow/config/flowconfig
+++ b/scripts/flow/config/flowconfig
@@ -45,9 +45,10 @@ esproposal.class_instance_fields=enable
 esproposal.optional_chaining=enable
 exact_by_default=true
 munge_underscores=false
+types_first=false
 
 # Substituted by createFlowConfig.js:
 %REACT_RENDERER_FLOW_OPTIONS%
 
 [version]
-^0.132.0
+^0.140.0
diff --git a/yarn.lock b/yarn.lock
index 2d71503a7a340..a3dc1a988861d 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -7914,10 +7914,10 @@ flatted@^2.0.0:
   resolved "https://registry.yarnpkg.com/flatted/-/flatted-2.0.2.tgz#4575b21e2bcee7434aa9be662f4b7b5f9c2b5138"
   integrity sha512-r5wGx7YeOwNWNlCA0wQ86zKyDLMQr+/RB8xy74M4hTphfmjlijTSSXGuH8rnvKZnfT9i+75zmd8jcKdMR4O6jA==
 
-flow-bin@^0.132:
-  version "0.132.0"
-  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.132.0.tgz#8bf80a79630db24bd1422dc2cc4b5e97f97ccb98"
-  integrity sha512-S1g/vnAyNaLUdajmuUHCMl30qqye12gS6mr4LVyswf1k+JDF4efs6SfKmptuvnpitF3LGCVf0TIffChP8ljwnw==
+flow-bin@^0.140:
+  version "0.140.0"
+  resolved "https://registry.yarnpkg.com/flow-bin/-/flow-bin-0.140.0.tgz#bf1a2984a0e5604daa0d1e0432138d9897af65bb"
+  integrity sha512-9P/VciKACXocClhLiDg/p1ntYmgCEEc9QrNOoTqTi2SEdEZDTiAmJLONRJfw4uglPVRZ1p/esWF9KlbZiuxqVw==
 
 fluent-syntax@0.13.0:
   version "0.13.0"