Etymology
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update (v.)

1944, in reference to information, 1952 in reference to persons, from up (adv.) + date (v.1). Related: Updated; updating. The noun is attested from 1967.

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Definitions of update
1
update (v.)
modernize or bring up to date;
We updated the kitchen in the old house
update (v.)
bring up to date; supply with recent information;
update (v.)
bring 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
2
update (n.)
information or data that updates;
I just heard the update on the unemployment figures
do you have the latest software update?
update (n.)
the act of bringing someone or something up to date;
the server update ran overnight
the local news station broadcast a special weather update
From wordnet.princeton.edu