diff --git a/go.mod b/go.mod
index 7465f6fef..b54e55308 100644
--- a/go.mod
+++ b/go.mod
@@ -17,7 +17,7 @@ require (
 	knative.dev/eventing v0.40.0
 	knative.dev/hack v0.0.0-20240123162936-f3f03ac0ab1a
 	knative.dev/pkg v0.0.0-20240116073220-b488e7be5902
-	knative.dev/serving v0.39.1-0.20240123152112-7509f7d9b806
+	knative.dev/serving v0.40.0
 )
 
 require (
diff --git a/go.sum b/go.sum
index f36862917..98bffaf3f 100644
--- a/go.sum
+++ b/go.sum
@@ -721,8 +721,8 @@ knative.dev/networking v0.0.0-20240116081125-ce0738abf051 h1:bTRVfwmfu4/7U1YBcgB
 knative.dev/networking v0.0.0-20240116081125-ce0738abf051/go.mod h1:rdzGL1OVP6VItEiJUN/FTCrDnIzkA6ykhSvaK+0Ne6o=
 knative.dev/pkg v0.0.0-20240116073220-b488e7be5902 h1:H6+JJN23fhwYWCHY1339sY6uhIyoUwDy1a8dN233fdk=
 knative.dev/pkg v0.0.0-20240116073220-b488e7be5902/go.mod h1:NYk8mMYoLkO7CQWnNkti4YGGnvLxN6MIDbUvtgeo0C0=
-knative.dev/serving v0.39.1-0.20240123152112-7509f7d9b806 h1:MJRXHFhhpvtPJTn5U3AEC49D4udVea8Mnqxy2TSYTtw=
-knative.dev/serving v0.39.1-0.20240123152112-7509f7d9b806/go.mod h1:s6UKgRMhH43Aer3TSIeNnpiOLHJLogb/09ahGXdrDAc=
+knative.dev/serving v0.40.0 h1:feTBe+6J/woNbPu8pv5AEfaumOZSrSBuIubkPTjxCzo=
+knative.dev/serving v0.40.0/go.mod h1:Ory3XczDB8b1lH757CSdeDeouY3LHzSamX8IjmStuoU=
 rsc.io/binaryregexp v0.2.0/go.mod h1:qTv7/COck+e2FymRvadv62gMdZztPaShugOCi3I+8D8=
 rsc.io/quote/v3 v3.1.0/go.mod h1:yEA65RcK8LyAZtP9Kv3t0HmxON59tX3rD+tICJqUlj0=
 rsc.io/sampler v1.3.0/go.mod h1:T1hPZKmBbMNahiBKFy5HrXp6adAjACjK9JXDnKaTXpA=
diff --git a/vendor/modules.txt b/vendor/modules.txt
index 35bef24f0..a89539af2 100644
--- a/vendor/modules.txt
+++ b/vendor/modules.txt
@@ -1098,7 +1098,7 @@ knative.dev/pkg/webhook/psbinding
 knative.dev/pkg/webhook/resourcesemantics
 knative.dev/pkg/webhook/resourcesemantics/defaulting
 knative.dev/pkg/webhook/resourcesemantics/validation
-# knative.dev/serving v0.39.1-0.20240123152112-7509f7d9b806
+# knative.dev/serving v0.40.0
 ## explicit; go 1.21
 knative.dev/serving/pkg/apis/autoscaling
 knative.dev/serving/pkg/apis/autoscaling/v1alpha1