Industrial code tasks, including chip design, GPU optimization, and firmware, often fail for reasons that are invisible in ordinary source code: timing constraints, backend logs, layout data, simulator behavior, and hardware-specific performance trade-offs. Current code models see many programs but few expert correction traces from these settings. We present InCoder-32B-Thinking, a 32B thinking code model trained with Error-driven Chain-of-Thought (ECoT) synthesis and an Industrial Code World Model (ICWM). ECoT converts several rounds of toolchain signals into reasoning traces by preserving the failed code, the observed failure, and the later fix. ICWM learns from execution traces in domains such as Verilog simulation and GPU profiling, then predicts feedback for the data engine, which can build more repair traces without routing every candidate through a real toolchain. The data keeps the uneven reasoning depth of industrial work: short traces for simple cases, long traces for hardware-level debugging. Across 23 tests (14 general and 9 industrial), InCoder-32B-Thinking reaches 81.3% on LiveCodeBench v5, 84.0% CAD-Coder compile success, and 38.0% on KernelBench L2, while remaining competitive on general coding tasks. Model weights and code are available at Hugging Face: https://huggingface.co/Multilingual-Multimodal-NLP/IndustrialCoder and GitHub: https://github.com/CSJianYang/Industrial-Coder.

Test-time compute has emerged as a powerful paradigm in function-level code generation. However, previous proposed strategies have been viewed as disparate, thus lacking a fair apples-to-apples analysis enabling understanding of their operational mechanisms in execution-based benchmarks. Therefore, we present a mathematical framework that unifies generation and reranking with theoretical justifications through the lens of Minimum Bayes Risk (MBR) decoding. Our proposed framework leads to key research questions regarding the effectiveness of using parallel and/or iterative sampling, design choices of reranking signals and soft/hard MBR utility functions, and behaviors of the final selected program across different methods. Our empirical findings highlight the importance of the diversity of sampled candidates (over self-improvement), reranking with simple and high-quality signals, and the effectiveness of test-time compute to select programs that manifest general and edge test case robustness. We will open-source our analysis toolkit and implementation to enable reproducible research.We open-source our analysis toolkit and implementation to enable reproducible research.