diff --git a/charts/argocd-understack/values.yaml b/charts/argocd-understack/values.yaml
index 1fbeb8ef1..21c72de3a 100644
--- a/charts/argocd-understack/values.yaml
+++ b/charts/argocd-understack/values.yaml
@@ -407,7 +407,7 @@ site:
     wave: 2
     # -- Chart version for Neutron
     # renovate: datasource=helm depName=neutron registryUrl=https://tarballs.opendev.org/openstack/openstack-helm
-    chartVersion: 2026.1.41+7c81bea7c
+    chartVersion: 2026.1.47+6a45d0ecf
 
   # -- Placement (Placement Service)
   placement:
diff --git a/components/images-openstack.yaml b/components/images-openstack.yaml
index 490161535..d86ccb51a 100644
--- a/components/images-openstack.yaml
+++ b/components/images-openstack.yaml
@@ -41,11 +41,14 @@ images:
     neutron_l2gw: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_linuxbridge_agent: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_metadata: "ghcr.io/rackerlabs/understack/neutron:2026.1"
-    neutron_ovn_metadata: "ghcr.io/rackerlabs/understack/neutron:2026.1"
+    neutron_ovn_metadata_agent: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_openvswitch_agent: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_server: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_rpc_server: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_ovn_maintenance_worker: "ghcr.io/rackerlabs/understack/neutron:2026.1"
+    neutron_ironic_agent: "ghcr.io/rackerlabs/understack/neutron:2026.1"
+    neutron_ironic_agent_init: "ghcr.io/rackerlabs/understack/neutron:2026.1"
+    neutron_periodic_worker: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_bagpipe_bgp: "ghcr.io/rackerlabs/understack/neutron:2026.1"
     neutron_netns_cleanup_cron: "ghcr.io/rackerlabs/understack/neutron:2026.1"
 
diff --git a/components/neutron/values.yaml b/components/neutron/values.yaml
index fd8bf06e0..f000c2acd 100644
--- a/components/neutron/values.yaml
+++ b/components/neutron/values.yaml
@@ -87,6 +87,20 @@ conf:
       default_availability_zones: ""
       # add 50 to the max MTU we want of 9000 to handle Neutron's -50 for VXLAN type
       global_physnet_mtu: 9050
+    l2vni:
+      # networking-baremetal ships an L2VNI trunk reconciler that manages
+      # trunk subports for network nodes off OVN ha_chassis_group membership.
+      # We do not use it, neutron-understack owns baremetal VLAN binding here.
+      # Both flags have to be off: the agent initializes the trunk manager if
+      # either one is set, and the event-driven path reconciles on every OVN
+      # localnet port change regardless of the periodic flag.
+      enable_l2vni_trunk_reconciliation: false
+      enable_l2vni_trunk_reconciliation_events: false
+      # Only read when the reconciler above is turned back on. It defaults to
+      # 'geneve', which is not in our ml2 type_drivers, so creating the anchor
+      # networks fails outright instead of falling back. 'vxlan' is the only
+      # other accepted value.
+      l2vni_subport_anchor_network_type: "vxlan"
     oslo_messaging_notifications:
       driver: messagingv2
     oslo_messaging_rabbit:
@@ -136,11 +150,19 @@ pod:
     neutron_ovn_maintenance_worker:
       - secret:
           name: neutron-ks-etc
+    neutron_rpc_server:
+      - secret:
+          name: neutron-ks-etc
+    neutron_periodic_worker:
+      - secret:
+          name: neutron-ks-etc
 
   use_fqdn:
     neutron_agent: false
   replicas:
     server: 4
+    # More than one so agent state reports survive a rollout or node drain.
+    rpc_server: 2
   lifecycle:
     disruption_budget:
       server:
@@ -255,18 +277,17 @@ manifests:
   # - neutron-metadata-agent
   # - neutron-ovs-agent
   # - neutron-sriov-agent
-  # - neutron-rpc-agent (this sends requests to the various agents)
   # https://docs.openstack.org/ironic/latest/admin/ovn-networking.html
   daemonset_dhcp_agent: false
   daemonset_l3_agent: false
   daemonset_lb_agent: false
   daemonset_metadata_agent: false
   daemonset_ovs_agent: false
-  deployment_rpc_server: false
+  # neutron-server runs under uWSGI, which serves the API only. The RPC
+  # server is what receives report_state and get_agents from agents, so
+  # neutron-ironic-agent cannot register without it.
+  deployment_rpc_server: true
   deployment_ovn_maintenance_worker: true
-  # The janitor only needs the OVN maintenance worker. The chart enables the
-  # generic periodic worker by default; disable it.
-  deployment_periodic_worker: false
   daemonset_sriov_agent: false
   daemonset_l2gw_agent: false
   daemonset_bagpipe_bgp: false
diff --git a/containers/neutron/Dockerfile b/containers/neutron/Dockerfile
index 0ef7b9c27..2500d28e0 100644
--- a/containers/neutron/Dockerfile
+++ b/containers/neutron/Dockerfile
@@ -15,6 +15,11 @@ ARG NEUTRON_LIB_GIT_REF=6d0367183cc92656ba449acefd830cb4e11f2f5b
 ADD --keep-git-dir=true https://github.com/rackerlabs/neutron-lib.git#${NEUTRON_LIB_GIT_REF} /src/neutron-lib
 RUN git -C /src/neutron-lib fetch --unshallow --tags
 
+# renovate: name=openstack/networking-baremetal repo=https://github.com/openstack/networking-baremetal.git branch=stable/2026.1
+ARG NETWORKING_BAREMETAL_GIT_REF=e713f05659b1bf2794a462ab8aa13ee367ef4045
+ADD --keep-git-dir=true https://github.com/openstack/networking-baremetal.git#${NETWORKING_BAREMETAL_GIT_REF} /src/networking-baremetal
+RUN git -C /src/networking-baremetal fetch --unshallow --tags
+
 COPY python/neutron-understack /src/neutron-understack
 
 ARG OPENSTACK_VERSION="required_argument"
@@ -32,6 +37,7 @@ RUN --mount=type=cache,target=/root/.cache/uv \
       --constraint /upper-constraints.txt \
         /src/neutron \
         /src/neutron-lib \
+        /src/networking-baremetal \
         /src/neutron-understack
 
 ARG OPENSTACK_VERSION="required_argument"