diff --git a/jax/version.py b/jax/version.py
index b5e5f255f152..3640a456b128 100644
--- a/jax/version.py
+++ b/jax/version.py
@@ -137,7 +137,7 @@ def make_release_tree(self, base_dir, files):
 
 
 __version__ = _get_version_string()
-_minimum_jaxlib_version = "0.4.36"
+_minimum_jaxlib_version = "0.4.38"
 
 def _version_as_tuple(version_str):
   return tuple(int(i) for i in version_str.split(".") if i.isdigit())
diff --git a/setup.py b/setup.py
index eb28752c18a0..4d47ff0c9aa3 100644
--- a/setup.py
+++ b/setup.py
@@ -19,11 +19,11 @@
 
 project_name = 'jax'
 
-_current_jaxlib_version = '0.4.36'
+_current_jaxlib_version = '0.4.38'
 # The following should be updated after each new jaxlib release.
 _latest_jaxlib_version_on_pypi = '0.4.36'
 
-_libtpu_version = '0.0.6'
+_libtpu_version = '0.0.7'
 _libtpu_nightly_terminal_version = '0.1.dev20241010+nightly.cleanup'
 
 def load_version_module(pkg_path):