diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index ea6bd66b98..66156db3ae 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 5.48
+current_version = 5.49
 commit = True
 Tag = True
 parse = v?(?P<major>\d+)\.(?P<minor>\d+)
diff --git a/README.md b/README.md
index 2365a14942..2d6692904c 100644
--- a/README.md
+++ b/README.md
@@ -23,5 +23,5 @@ Unless required by applicable law or agreed to in writing, software distributed
 To get started, please proceed to [The Splunk Observability Cloud Workshops Homepage](https://splunk.github.io/observability-workshop/latest/).
 
 Latest versions of the workshop are:
+- [v5.49](https://splunk.github.io/observability-workshop/v5.49/)
 - [v5.48](https://splunk.github.io/observability-workshop/v5.48/)
-- [v5.47](https://splunk.github.io/observability-workshop/v5.47/)
diff --git a/VERSION b/VERSION
index dd362a27b4..41dffac58a 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-5.48
+5.49
diff --git a/hugo.yaml b/hugo.yaml
index 7ab00f6e6e..eb08e88351 100644
--- a/hugo.yaml
+++ b/hugo.yaml
@@ -60,10 +60,10 @@ params:
   versions:
     - version: latest
       url: https://splunk.github.io/observability-workshop/latest/
-    - version: v5.47
-      url: https://splunk.github.io/observability-workshop/v5.47
     - version: v5.48
       url: https://splunk.github.io/observability-workshop/v5.48
+    - version: v5.49
+      url: https://splunk.github.io/observability-workshop/v5.49
   url_latest_version: https://splunk.github.io/observability-workshop/
   imageEffects:
     border: false
diff --git a/multipass/main.tf b/multipass/main.tf
index 0bd9a69fd1..2bb9e98306 100644
--- a/multipass/main.tf
+++ b/multipass/main.tf
@@ -72,7 +72,7 @@ variable "splunk_diab" {
 variable "wsversion" {
   description = "Workshop version"
   type        = string
-  default     = "5.48"
+  default     = "5.49"
 }
 
 variable "instance_password" {
diff --git a/multipass/terraform.tfvars.template b/multipass/terraform.tfvars.template
index 4718a0ea6e..768744f2c0 100644
--- a/multipass/terraform.tfvars.template
+++ b/multipass/terraform.tfvars.template
@@ -17,6 +17,6 @@ otel_demo = false
 pub_key = ""
 
 # Advanced
-wsversion = "5.48"
+wsversion = "5.49"
 user_data_tpl = "userdata.yaml"
 
diff --git a/workshop/aws/ec2/terraform.tfvars.template b/workshop/aws/ec2/terraform.tfvars.template
index f55d68a972..a259f3b5cb 100644
--- a/workshop/aws/ec2/terraform.tfvars.template
+++ b/workshop/aws/ec2/terraform.tfvars.template
@@ -20,5 +20,5 @@ splunk_diab = false
 pub_key = ""
 
 # Advanced
-wsversion = "5.48"
+wsversion = "5.49"
 user_data_tpl = "userdata.yaml"
diff --git a/workshop/aws/ec2/variables.tf b/workshop/aws/ec2/variables.tf
index b0b96e65d9..851bcff25a 100644
--- a/workshop/aws/ec2/variables.tf
+++ b/workshop/aws/ec2/variables.tf
@@ -93,7 +93,7 @@ variable "splunk_diab" {
 variable "wsversion" {
   description = "Workshop version"
   type        = string
-  default     = "5.48"
+  default     = "5.49"
 }
 
 data "aws_ami" "latest-ubuntu" {
diff --git a/workshop/cloud-init/victorops.yaml b/workshop/cloud-init/victorops.yaml
index 1cee4053e8..70a1b62ab9 100644
--- a/workshop/cloud-init/victorops.yaml
+++ b/workshop/cloud-init/victorops.yaml
@@ -52,7 +52,7 @@ write_files:
 
 runcmd:
   # Download Workshop
-  - export WSVERSION=5.48
+  - export WSVERSION=5.49
   - 'export WSARCHIVE=$([ "$WSVERSION" = "main" ] && echo "main" || echo "v$WSVERSION")'
   - curl -s -OL https://github.com/splunk/observability-workshop/archive/$WSARCHIVE.zip
   - unzip -qq $WSARCHIVE.zip -d /home/splunk/