diff --git a/jax/version.py b/jax/version.py
index 6c64d75b9733..e8aa451aed8e 100644
--- a/jax/version.py
+++ b/jax/version.py
@@ -133,7 +133,7 @@ def make_release_tree(self, base_dir, files):
 
 
 __version__ = _get_version_string()
-_minimum_jaxlib_version = "0.4.33"
+_minimum_jaxlib_version = "0.4.34"
 
 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 762b5ad7a281..a2d5c20afee2 100644
--- a/setup.py
+++ b/setup.py
@@ -19,10 +19,10 @@
 
 project_name = 'jax'
 
-_current_jaxlib_version = '0.4.33'
+_current_jaxlib_version = '0.4.34'
 # The following should be updated after each new jaxlib release.
 _latest_jaxlib_version_on_pypi = '0.4.33'
-_libtpu_version = '0.1.dev20240916'
+_libtpu_version = '0.1.dev20241001'
 
 def load_version_module(pkg_path):
   spec = importlib.util.spec_from_file_location(