diff --git a/crates/ruff_linter/src/rules/flake8_bandit/rules/hardcoded_bind_all_interfaces.rs b/crates/ruff_linter/src/rules/flake8_bandit/rules/hardcoded_bind_all_interfaces.rs
index 38295b71316a2c..0e4301ee44c071 100644
--- a/crates/ruff_linter/src/rules/flake8_bandit/rules/hardcoded_bind_all_interfaces.rs
+++ b/crates/ruff_linter/src/rules/flake8_bandit/rules/hardcoded_bind_all_interfaces.rs
@@ -40,7 +40,9 @@ impl Violation for HardcodedBindAllInterfaces {
 pub(crate) fn hardcoded_bind_all_interfaces(checker: &mut Checker, string: StringLike) {
     let is_bind_all_interface = match string {
         StringLike::StringLiteral(ast::ExprStringLiteral { value, .. }) => value == "0.0.0.0",
-        StringLike::FStringLiteral(ast::FStringLiteralElement { value, .. }) => value == "0.0.0.0",
+        StringLike::FStringLiteral(ast::FStringLiteralElement { value, .. }) => {
+            &**value == "0.0.0.0"
+        }
         StringLike::BytesLiteral(_) => return,
     };
 
diff --git a/crates/ruff_linter/src/rules/flynt/helpers.rs b/crates/ruff_linter/src/rules/flynt/helpers.rs
index 7a6af204d13f90..640f922d6faa22 100644
--- a/crates/ruff_linter/src/rules/flynt/helpers.rs
+++ b/crates/ruff_linter/src/rules/flynt/helpers.rs
@@ -15,7 +15,7 @@ fn to_f_string_expression_element(inner: &Expr) -> ast::FStringElement {
 /// Convert a string to a [`ast::FStringElement::Literal`].
 pub(super) fn to_f_string_literal_element(s: &str) -> ast::FStringElement {
     ast::FStringElement::Literal(ast::FStringLiteralElement {
-        value: s.to_owned(),
+        value: s.to_string().into_boxed_str(),
         range: TextRange::default(),
     })
 }
@@ -53,7 +53,7 @@ pub(super) fn to_f_string_element(expr: &Expr) -> Option<ast::FStringElement> {
     match expr {
         Expr::StringLiteral(ast::ExprStringLiteral { value, range }) => {
             Some(ast::FStringElement::Literal(ast::FStringLiteralElement {
-                value: value.to_string(),
+                value: value.to_string().into_boxed_str(),
                 range: *range,
             }))
         }
diff --git a/crates/ruff_python_ast/src/comparable.rs b/crates/ruff_python_ast/src/comparable.rs
index bc6327f01dca05..344bb615ce95e6 100644
--- a/crates/ruff_python_ast/src/comparable.rs
+++ b/crates/ruff_python_ast/src/comparable.rs
@@ -644,7 +644,7 @@ pub struct ComparableBytesLiteral<'a> {
 impl<'a> From<&'a ast::BytesLiteral> for ComparableBytesLiteral<'a> {
     fn from(bytes_literal: &'a ast::BytesLiteral) -> Self {
         Self {
-            value: bytes_literal.value.as_slice(),
+            value: &bytes_literal.value,
         }
     }
 }
diff --git a/crates/ruff_python_ast/src/nodes.rs b/crates/ruff_python_ast/src/nodes.rs
index 09f4bf8ddd410f..f82317aee10e49 100644
--- a/crates/ruff_python_ast/src/nodes.rs
+++ b/crates/ruff_python_ast/src/nodes.rs
@@ -949,7 +949,7 @@ impl Ranged for FStringExpressionElement {
 #[derive(Clone, Debug, PartialEq)]
 pub struct FStringLiteralElement {
     pub range: TextRange,
-    pub value: String,
+    pub value: Box<str>,
 }
 
 impl Ranged for FStringLiteralElement {
@@ -962,7 +962,7 @@ impl Deref for FStringLiteralElement {
     type Target = str;
 
     fn deref(&self) -> &Self::Target {
-        self.value.as_str()
+        &self.value
     }
 }
 
@@ -1607,7 +1607,7 @@ impl Default for BytesLiteralValueInner {
 #[derive(Clone, Debug, Default, PartialEq)]
 pub struct BytesLiteral {
     pub range: TextRange,
-    pub value: Vec<u8>,
+    pub value: Box<[u8]>,
 }
 
 impl Ranged for BytesLiteral {
@@ -1620,7 +1620,7 @@ impl Deref for BytesLiteral {
     type Target = [u8];
 
     fn deref(&self) -> &Self::Target {
-        self.value.as_slice()
+        &self.value
     }
 }
 
diff --git a/crates/ruff_python_parser/src/string.rs b/crates/ruff_python_parser/src/string.rs
index 124ba688a3a7a5..0e1459f96e4365 100644
--- a/crates/ruff_python_parser/src/string.rs
+++ b/crates/ruff_python_parser/src/string.rs
@@ -218,9 +218,9 @@ impl StringParser {
 
         let mut value = String::with_capacity(self.source.len());
         loop {
-            // Add the characters before the escape sequence to the string.
-            let before_with_slash = self.skip_bytes(index + 1);
-            let before = &before_with_slash[..before_with_slash.len() - 1];
+            // Add the characters before the escape sequence (or curly brace) to the string.
+            let before_with_slash_or_brace = self.skip_bytes(index + 1);
+            let before = &before_with_slash_or_brace[..before_with_slash_or_brace.len() - 1];
             value.push_str(before);
 
             // Add the escaped character to the string.
@@ -284,7 +284,7 @@ impl StringParser {
         }
 
         Ok(ast::FStringElement::Literal(ast::FStringLiteralElement {
-            value,
+            value: value.into_boxed_str(),
             range: self.range,
         }))
     }
@@ -305,7 +305,7 @@ impl StringParser {
         if self.kind.is_raw() {
             // For raw strings, no escaping is necessary.
             return Ok(StringType::Bytes(ast::BytesLiteral {
-                value: self.source.into_bytes(),
+                value: self.source.into_boxed_bytes(),
                 range: self.range,
             }));
         }
@@ -313,7 +313,7 @@ impl StringParser {
         let Some(mut escape) = memchr::memchr(b'\\', self.source.as_bytes()) else {
             // If the string doesn't contain any escape sequences, return the owned string.
             return Ok(StringType::Bytes(ast::BytesLiteral {
-                value: self.source.into_bytes(),
+                value: self.source.into_boxed_bytes(),
                 range: self.range,
             }));
         };
@@ -349,7 +349,7 @@ impl StringParser {
         }
 
         Ok(StringType::Bytes(ast::BytesLiteral {
-            value,
+            value: value.into_boxed_slice(),
             range: self.range,
         }))
     }