diff --git a/build-tools/packages/build-cli/docs/vnext.md b/build-tools/packages/build-cli/docs/vnext.md
index f630b41c43ec..ad7569068d93 100644
--- a/build-tools/packages/build-cli/docs/vnext.md
+++ b/build-tools/packages/build-cli/docs/vnext.md
@@ -4,6 +4,7 @@
 Vnext commands are new implementations of standard flub commands using new infrastructure.
 
 * [`flub vnext check latestVersions`](#flub-vnext-check-latestversions)
+* [`flub vnext modify fluid-deps`](#flub-vnext-modify-fluid-deps)
 
 ## `flub vnext check latestVersions`
 
@@ -11,12 +12,12 @@ Determines if an input version matches a latest minor release version. Intended
 
 ```
 USAGE
-  $ flub vnext check latestVersions --releaseGroup <value> --version <value> [-v | --quiet]
+  $ flub vnext check latestVersions -g <value> --version <value> [-v | --quiet]
 
 FLAGS
-  --releaseGroup=<value>  (required) The name of a release group.
-  --version=<value>       (required) The version to check. When running in CI, this value corresponds to the pipeline
-                          trigger branch.
+  -g, --releaseGroup=<value>  (required) The name of a release group.
+      --version=<value>       (required) The version to check. When running in CI, this value corresponds to the
+                              pipeline trigger branch.
 
 LOGGING FLAGS
   -v, --verbose  Enable verbose logging.
@@ -31,3 +32,53 @@ DESCRIPTION
 ```
 
 _See code: [src/commands/vnext/check/latestVersions.ts](https://github.com/microsoft/FluidFramework/blob/main/build-tools/packages/build-cli/src/commands/vnext/check/latestVersions.ts)_
+
+## `flub vnext modify fluid-deps`
+
+Update the dependency version that a release group has on another release group. That is, if one or more packages in the release group depend on package A in another release group, then this command will update the dependency range on package A and all other packages in that release group.
+
+```
+USAGE
+  $ flub vnext modify fluid-deps --on <value> [-v | --quiet] [-g <value>...] [--prerelease] [-d ^|~|]
+
+FLAGS
+  -d, --dependencyRange=<option>  [default: ^] Controls the type of dependency that is used when updating packages. Use
+                                  "" (the empty string) to indicate exact dependencies. Note that dependencies on
+                                  pre-release versions will always be exact.
+                                  <options: ^|~|>
+  -g, --releaseGroup=<value>...   A release group whose packages will be updated. This can be specified multiple times
+                                  to updates dependencies for multiple release groups.
+      --on=<value>                (required) A release group that contains dependent packages. Packages that depend on
+                                  packages in this release group will be updated.
+      --prerelease                Update to the latest prerelease version, which might be an earlier release than
+                                  latest.
+
+LOGGING FLAGS
+  -v, --verbose  Enable verbose logging.
+      --quiet    Disable all logging.
+
+DESCRIPTION
+  Update the dependency version that a release group has on another release group. That is, if one or more packages in
+  the release group depend on package A in another release group, then this command will update the dependency range on
+  package A and all other packages in that release group.
+
+  To learn more see the detailed documentation at
+  https://github.com/microsoft/FluidFramework/blob/main/build-tools/packages/build-cli/docs/bumpDetails.md
+
+EXAMPLES
+  Update 'client' dependencies on packages in the 'build-tools' release group to the latest release version.
+
+    $ flub vnext modify fluid-deps -g client --on build-tools
+
+  Update 'client' dependencies on packages in the 'server' release group to the latest version. Include pre-release
+  versions.
+
+    $ flub vnext modify fluid-deps -g client --on build-tools --prerelease
+
+  Update 'client' dependencies on packages in the 'server' release group to the latest version. Include pre-release
+  versions.
+
+    $ flub vnext modify fluid-deps -g client --on server
+```
+
+_See code: [src/commands/vnext/modify/fluid-deps.ts](https://github.com/microsoft/FluidFramework/blob/main/build-tools/packages/build-cli/src/commands/vnext/modify/fluid-deps.ts)_
diff --git a/build-tools/packages/build-cli/src/commands/vnext/check/latestVersions.ts b/build-tools/packages/build-cli/src/commands/vnext/check/latestVersions.ts
index 95a594658617..09714c121be9 100644
--- a/build-tools/packages/build-cli/src/commands/vnext/check/latestVersions.ts
+++ b/build-tools/packages/build-cli/src/commands/vnext/check/latestVersions.ts
@@ -34,11 +34,6 @@ export default class LatestVersionsCommand extends BaseCommandWithBuildProject<
 			hidden: true,
 			multiple: true,
 		}),
-		searchPath: Flags.string({
-			description: "The path to build project. Used for testing.",
-			hidden: true,
-			multiple: false,
-		}),
 		...BaseCommandWithBuildProject.flags,
 	} as const;
 
diff --git a/build-tools/packages/build-cli/src/commands/vnext/modify/fluid-deps.ts b/build-tools/packages/build-cli/src/commands/vnext/modify/fluid-deps.ts
new file mode 100644
index 000000000000..35faf950edbb
--- /dev/null
+++ b/build-tools/packages/build-cli/src/commands/vnext/modify/fluid-deps.ts
@@ -0,0 +1,214 @@
+/*!
+ * Copyright (c) Microsoft Corporation and contributors. All rights reserved.
+ * Licensed under the MIT License.
+ */
+
+import {
+	type IPackage,
+	getAllDependencies,
+	setDependencyRange,
+} from "@fluid-tools/build-infrastructure";
+import {
+	RangeOperator,
+	type RangeOperatorWithVersion,
+	RangeOperators,
+} from "@fluid-tools/version-tools";
+import { type Logger } from "@fluidframework/build-tools";
+import { Flags } from "@oclif/core";
+import type { PackageName } from "@rushstack/node-core-library";
+import latestVersion from "latest-version";
+import chalk from "picocolors";
+import * as semver from "semver";
+import { releaseGroupNameFlag, testModeFlag } from "../../../flags.js";
+import { BaseCommandWithBuildProject } from "../../../library/index.js";
+
+/**
+ * Update the dependency version that a release group has on another release group. That is, if one or more packages in
+ * the release group depend on package A in another release group, then this command will update the dependency range on
+ * package A and all other packages in that release group.
+ */
+export default class ModifyFluidDepsCommand extends BaseCommandWithBuildProject<
+	typeof ModifyFluidDepsCommand
+> {
+	static readonly description =
+		"Update the dependency version that a release group has on another release group. That is, if one or more packages in the release group depend on package A in another release group, then this command will update the dependency range on package A and all other packages in that release group.\n\nTo learn more see the detailed documentation at https://github.com/microsoft/FluidFramework/blob/main/build-tools/packages/build-cli/docs/bumpDetails.md";
+
+	static readonly flags = {
+		releaseGroup: releaseGroupNameFlag({
+			required: false,
+			multiple: true,
+			description:
+				"A release group whose packages will be updated. This can be specified multiple times to updates dependencies for multiple release groups.",
+		}),
+		on: releaseGroupNameFlag({
+			required: true,
+			char: undefined,
+			description:
+				"A release group that contains dependent packages. Packages that depend on packages in this release group will be updated.",
+		}),
+		prerelease: Flags.boolean({
+			description:
+				"Update to the latest prerelease version, which might be an earlier release than latest.",
+		}),
+		dependencyRange: Flags.custom<RangeOperator>({
+			char: "d",
+			description:
+				'Controls the type of dependency that is used when updating packages. Use "" (the empty string) to indicate exact dependencies. Note that dependencies on pre-release versions will always be exact.',
+			default: "^",
+			options: [...RangeOperators],
+		})(),
+		testMode: testModeFlag,
+		...BaseCommandWithBuildProject.flags,
+	} as const;
+
+	static readonly examples = [
+		{
+			description:
+				"Update 'client' dependencies on packages in the 'build-tools' release group to the latest release version.",
+			command: "<%= config.bin %> <%= command.id %> -g client --on build-tools",
+		},
+		{
+			description:
+				"Update 'client' dependencies on packages in the 'server' release group to the latest version. Include pre-release versions.",
+			command: "<%= config.bin %> <%= command.id %> -g client --on build-tools --prerelease",
+		},
+		{
+			description:
+				"Update 'client' dependencies on packages in the 'server' release group to the latest version. Include pre-release versions.",
+			command: "<%= config.bin %> <%= command.id %> -g client --on server",
+		},
+	];
+
+	/**
+	 * Runs the `modify fluid-deps` command.
+	 */
+	public async run(): Promise<void> {
+		const { flags } = this;
+
+		const buildProject = this.getBuildProject(flags.searchPath);
+		const releaseGroups =
+			flags.releaseGroup === undefined
+				? [...buildProject.releaseGroups.values()]
+				: flags.releaseGroup.map((rg) => {
+						const found = buildProject.releaseGroups.get(rg);
+						if (found === undefined) {
+							this.error(`Release group not found: '${flags.releaseGroup}'`);
+						}
+						return found;
+					});
+		const packagesToUpdate = releaseGroups.flatMap((rg) => rg.packages);
+		const dependencyReleaseGroup = buildProject.releaseGroups.get(flags.on);
+		if (dependencyReleaseGroup === undefined) {
+			this.error(`Release group not found: '${flags.on}'`);
+		}
+
+		if (flags.testMode) {
+			this.log(chalk.yellowBright(`Running in test mode. No changes will be made.`));
+		}
+
+		// Get all the deps of the release groups being updated
+		const depsToUpdate = getAllDependencies(buildProject, packagesToUpdate);
+
+		if (!depsToUpdate.releaseGroups.includes(dependencyReleaseGroup)) {
+			this.error(
+				`Selected release groups have no dependencies on '${dependencyReleaseGroup}'`,
+			);
+		}
+
+		this.logHr();
+		this.log(
+			`Updating dependencies on '${chalk.blue(dependencyReleaseGroup.name)}' in the '${chalk.blue(releaseGroups.map((rg) => rg.name).join(", "))}' release group`,
+		);
+		this.log(`Prerelease: ${flags.prerelease ? chalk.green("yes") : "no"}`);
+		this.logHr();
+		this.log("");
+
+		const latestDepVersions = await getLatestPackageVersions(
+			dependencyReleaseGroup.packages,
+			flags.prerelease,
+			this.logger,
+		);
+
+		const versionSet = new Set(latestDepVersions.values());
+		if (versionSet.size > 1) {
+			this.error(
+				`Found multiple versions in dependencies - expected only one. Versions: ${[...versionSet].join(", ")}`,
+			);
+		}
+		const newVersion = [...versionSet][0];
+		this.info(`Found updated version ${newVersion}`);
+
+		const newRange =
+			`${flags.prerelease ? "" : flags.dependencyRange}${newVersion}` as RangeOperatorWithVersion;
+		await setDependencyRange(packagesToUpdate, dependencyReleaseGroup.packages, newRange);
+
+		const workspaces = new Set(releaseGroups.map((rg) => rg.workspace));
+		for (const ws of workspaces) {
+			try {
+				// eslint-disable-next-line no-await-in-loop
+				await ws.install(/* updateLockfile */ true);
+				this.info(`Installed dependencies for workspace '${ws.name}'`);
+			} catch (error) {
+				this.warning(
+					`Error installing dependencies for workspace '${ws.name}' - you should install dependencies manually.`,
+				);
+				// eslint-disable-next-line prefer-template
+				this.verbose((error as Error).message + "\n\n" + (error as Error).stack);
+				continue;
+			}
+		}
+	}
+}
+
+/**
+ * Checks the npm registry for the latest version of the provided packages.
+ */
+async function getLatestPackageVersions(
+	dependencies: IPackage[],
+	prerelease: boolean,
+	log?: Logger,
+): Promise<Map<PackageName, string>> {
+	/**
+	 * A map of packages to their latest version.
+	 */
+	const packageVersions: Map<PackageName, string> = new Map();
+
+	// Get the new version for each package based on the update type
+	for (const { name: pkgName, private: isPrivate } of dependencies) {
+		if (isPrivate) {
+			// skip private packages
+			continue;
+		}
+		let latest: string;
+		let dev: string;
+
+		try {
+			// eslint-disable-next-line no-await-in-loop
+			[latest, dev] = await Promise.all([
+				latestVersion(pkgName, {
+					version: "latest",
+				}),
+				latestVersion(pkgName, {
+					version: "dev",
+				}),
+			]);
+		} catch (error: unknown) {
+			log?.warning(error as Error);
+			continue;
+		}
+
+		// If we're allowing pre-release, use the version that has the 'dev' dist-tag in npm. Warn if it is lower than the 'latest'.
+		if (prerelease) {
+			packageVersions.set(pkgName, dev);
+			if (semver.gt(latest, dev)) {
+				log?.warning(
+					`The 'latest' dist-tag is version ${latest}, which is greater than the 'dev' dist-tag version, ${dev}. Is this expected?`,
+				);
+			}
+		} else {
+			packageVersions.set(pkgName, latest);
+		}
+	}
+
+	return packageVersions;
+}
diff --git a/build-tools/packages/build-cli/src/flags.ts b/build-tools/packages/build-cli/src/flags.ts
index eb992a50a943..55bc539a67ce 100644
--- a/build-tools/packages/build-cli/src/flags.ts
+++ b/build-tools/packages/build-cli/src/flags.ts
@@ -55,8 +55,8 @@ export const releaseGroupFlag = Flags.custom<ReleaseGroup>({
  * A re-usable CLI flag to parse release group names.
  */
 export const releaseGroupNameFlag = Flags.custom<ReleaseGroupName>({
-	required: true,
 	description: "The name of a release group.",
+	char: "g",
 	parse: async (input) => {
 		return input as ReleaseGroupName;
 	},
diff --git a/build-tools/packages/build-cli/src/library/commands/base.ts b/build-tools/packages/build-cli/src/library/commands/base.ts
index c3284bfe1eaf..4754cb624ed9 100644
--- a/build-tools/packages/build-cli/src/library/commands/base.ts
+++ b/build-tools/packages/build-cli/src/library/commands/base.ts
@@ -280,6 +280,15 @@ export abstract class BaseCommand<T extends typeof Command>
 export abstract class BaseCommandWithBuildProject<
 	T extends typeof Command,
 > extends BaseCommand<T> {
+	static readonly flags = {
+		searchPath: Flags.string({
+			description: "The path to build project. Used for testing.",
+			hidden: true,
+			multiple: false,
+		}),
+		...BaseCommand.flags,
+	} as const;
+
 	private _buildProject: IBuildProject | undefined;
 
 	/**
diff --git a/build-tools/packages/build-infrastructure/api-report/build-infrastructure.api.md b/build-tools/packages/build-infrastructure/api-report/build-infrastructure.api.md
index ea752787307e..8129729ed38f 100644
--- a/build-tools/packages/build-infrastructure/api-report/build-infrastructure.api.md
+++ b/build-tools/packages/build-infrastructure/api-report/build-infrastructure.api.md
@@ -4,6 +4,7 @@
 
 ```ts
 
+import type { InterdependencyRange } from '@fluid-tools/version-tools';
 import type { Opaque } from 'type-fest';
 import type { PackageJson as PackageJson_2 } from 'type-fest';
 import { SemVer } from 'semver';
@@ -239,6 +240,9 @@ export interface Reloadable {
     reload(): void;
 }
 
+// @public
+export function setDependencyRange<P extends IPackage>(packagesToUpdate: Iterable<P>, dependencies: Iterable<P>, dependencyRange: InterdependencyRange): Promise<void>;
+
 // @public
 export function setVersion<J extends PackageJson>(packages: IPackage<J>[], version: SemVer): Promise<void>;
 
diff --git a/build-tools/packages/build-infrastructure/src/index.ts b/build-tools/packages/build-infrastructure/src/index.ts
index 590b45613b9d..aaafa13d0f94 100644
--- a/build-tools/packages/build-infrastructure/src/index.ts
+++ b/build-tools/packages/build-infrastructure/src/index.ts
@@ -17,6 +17,7 @@
 export {
 	getAllDependencies,
 	loadBuildProject,
+	setDependencyRange,
 } from "./buildProject.js";
 export {
 	type ReleaseGroupDefinition,