I also have the same problem on a MacStudio M1Max (and not on a MBP M1Max) after upgrading to Xcode 26.1.1: no MetalToolchain accessible from this application. Running on Tahoe 26.1
Running today xcodebuild -downloadComponent metalToolchain gives:
`Beginning asset download...
Downloaded asset to: /System/Library/AssetsV2/com_apple_MobileAsset_MetalToolchain/68d8db6212b48d387d071ff7b905df796658e713.asset/AssetData/Restore/022-20369-066.dmg
Done downloading: Metal Toolchain 17B54.`
Then when I run "xcrun metal --version", I got an error message:
error: error: cannot execute tool 'metal' due to missing Metal Toolchain; use: xcodebuild -downloadComponent MetalToolchain
Last when I run: "xcodebuild -showComponent metalToolchain", I got:
2025-12-12 18:34:14.045 xcodebuild[27394:1591467] IDEDownloadableMetalToolchainCoordinator: Failed to remount the Metal Toolchain: The file “com.apple.MobileAsset.MetalToolchain-v17.2.54.0.BttmuJ” couldn’t be opened because you don’t have permission to view it.
2025-12-12 18:34:14.339 xcodebuild[27394:1591469] IDEDownloadableMetalToolchainCoordinator: Failed to remount the Metal Toolchain: The file “com.apple.MobileAsset.MetalToolchain-v17.2.54.0.BttmuJ” couldn’t be opened because you don’t have permission to view it.
2025-12-12 18:34:14.341 xcodebuild[27394:1591468] IDEDownloadableMetalToolchainCoordinator: Failed to remount the Metal Toolchain: The file “com.apple.MobileAsset.MetalToolchain-v17.2.54.0.BttmuJ” couldn’t be opened because you don’t have permission to view it.
Asset Path: /System/Library/AssetsV2/com_apple_MobileAsset_MetalToolchain/68d8db6212b48d387d071ff7b905df796658e713.asset/AssetData
Build Version: 17B54
Status: installed
Toolchain Search Path: /private/var/run/com.apple.security.cryptexd/mnt/com.apple.MobileAsset.MetalToolchain-v17.2.54.0.BttmuJ