diff --git a/Dockerfile b/Dockerfile
index d094f205..2bda69a8 100644
--- a/Dockerfile
+++ b/Dockerfile
@@ -15,8 +15,8 @@
 ARG BASE_IMAGE=nvcr.io/nvidia/tritonserver:24.10-py3
 ARG TRITONSDK_BASE_IMAGE=nvcr.io/nvidia/tritonserver:24.10-py3-sdk
 
-ARG MODEL_ANALYZER_VERSION=1.46.0dev
-ARG MODEL_ANALYZER_CONTAINER_VERSION=24.11dev
+ARG MODEL_ANALYZER_VERSION=1.47.0dev
+ARG MODEL_ANALYZER_CONTAINER_VERSION=24.12dev
 FROM ${TRITONSDK_BASE_IMAGE} as sdk
 
 FROM $BASE_IMAGE
diff --git a/VERSION b/VERSION
index 8c3cee21..81a46d18 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.46.0dev
\ No newline at end of file
+1.47.0dev