diff --git a/Dockerfile b/Dockerfile
index 9831a9123..e7c951492 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -15,8 +15,8 @@
 ARG BASE_IMAGE=nvcr.io/nvidia/tritonserver:23.09-py3
 ARG TRITONSDK_BASE_IMAGE=nvcr.io/nvidia/tritonserver:23.09-py3-sdk
 
-ARG MODEL_ANALYZER_VERSION=1.33.0dev
-ARG MODEL_ANALYZER_CONTAINER_VERSION=23.10dev
+ARG MODEL_ANALYZER_VERSION=1.34.0dev
+ARG MODEL_ANALYZER_CONTAINER_VERSION=23.11dev
 
 FROM ${TRITONSDK_BASE_IMAGE} as sdk
 
diff --git a/VERSION b/VERSION
index ec00a931c..36fc16ec1 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.33.0dev
+1.34.0dev