diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 2537c1f..f1c1e58 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "0.4.0"
+  ".": "0.5.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index a688ad1..a319b10 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,14 @@
 # Changelog
 
+## 0.5.0 (2024-06-11)
+
+Full Changelog: [v0.4.0...v0.5.0](https://github.com/groq/groq-typescript/compare/v0.4.0...v0.5.0)
+
+### Features
+
+* **api:** Fix audio transcription response formats ([7154e35](https://github.com/groq/groq-typescript/commit/7154e35221cb906b853c0271ec4badeeef7c825b))
+* **api:** Tool calling features ([e257ab7](https://github.com/groq/groq-typescript/commit/e257ab70890b4c8be0879696edf7379f5225566b))
+
 ## 0.4.0 (2024-05-23)
 
 Full Changelog: [v0.3.3...v0.4.0](https://github.com/groq/groq-typescript/compare/v0.3.3...v0.4.0)
diff --git a/package.json b/package.json
index 69cce33..aaa40d0 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "groq-sdk",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "description": "The official TypeScript library for the Groq API",
   "author": "Groq <support@groq.com>",
   "types": "dist/index.d.ts",
diff --git a/src/version.ts b/src/version.ts
index 4e7f788..1f5d158 100644
--- a/src/version.ts
+++ b/src/version.ts
@@ -1 +1 @@
-export const VERSION = '0.4.0'; // x-release-please-version
+export const VERSION = '0.5.0'; // x-release-please-version