Nouns

(n)updateinformation or data that updates“do you have the latest software update?”, “I just heard the update on the unemployment figures”
(n)updatethe act of bringing someone or something up to date“the server update ran overnight”, “the local news station broadcast a special weather update”

Verbs

(v)updatemodernize or bring up to date“We updated the kitchen in the old house”
(v)updatebring up to date; supply with recent information
(v)updatebring to the latest state of technology or supply with the latest data“tonight, I will update my operating system”, “we updated the database with the most recent figures”