diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 4bad4578155b..a579e12d5694 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -35,7 +35,7 @@
   "google-cloud-advisory_notifications-v1+FILLER": "0.0.0",
   "google-cloud-ai_platform": "1.3.0",
   "google-cloud-ai_platform+FILLER": "0.0.0",
-  "google-cloud-ai_platform-v1": "0.39.0",
+  "google-cloud-ai_platform-v1": "0.40.0",
   "google-cloud-ai_platform-v1+FILLER": "0.0.0",
   "google-cloud-alloy_db": "1.2.0",
   "google-cloud-alloy_db+FILLER": "0.0.0",
diff --git a/google-cloud-ai_platform-v1/CHANGELOG.md b/google-cloud-ai_platform-v1/CHANGELOG.md
index 3dfe74831fea..b052af900f0c 100644
--- a/google-cloud-ai_platform-v1/CHANGELOG.md
+++ b/google-cloud-ai_platform-v1/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Changelog
 
+### 0.40.0 (2024-05-23)
+
+#### Features
+
+* Add REST transport clients for all calls ([#25829](https://github.com/googleapis/google-cloud-ruby/issues/25829)) 
+* Added follow-up Google search entry point to GroundingMetadata 
+* Added private service connect configuration to Endpoint 
+* Added the TPU_V5_LITEPOD accelerator type 
+* Support for deploy task name in model metadata 
+* Support for the INVALID_TOKEN_VALUE record error 
+
 ### 0.39.0 (2024-04-18)
 
 #### Features
diff --git a/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb b/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
index 22b60815b8de..189e8caf8a3b 100644
--- a/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
+++ b/google-cloud-ai_platform-v1/lib/google/cloud/ai_platform/v1/version.rb
@@ -21,7 +21,7 @@ module Google
   module Cloud
     module AIPlatform
       module V1
-        VERSION = "0.39.0"
+        VERSION = "0.40.0"
       end
     end
   end
diff --git a/google-cloud-ai_platform-v1/snippets/snippet_metadata_google.cloud.aiplatform.v1.json b/google-cloud-ai_platform-v1/snippets/snippet_metadata_google.cloud.aiplatform.v1.json
index d03ce9f13530..9d536be4f68e 100644
--- a/google-cloud-ai_platform-v1/snippets/snippet_metadata_google.cloud.aiplatform.v1.json
+++ b/google-cloud-ai_platform-v1/snippets/snippet_metadata_google.cloud.aiplatform.v1.json
@@ -1,7 +1,7 @@
 {
   "client_library": {
     "name": "google-cloud-ai_platform-v1",
-    "version": "0.39.0",
+    "version": "0.40.0",
     "language": "RUBY",
     "apis": [
       {