diff --git a/CHANGELOG.md b/CHANGELOG.md
index 35e2ac8b5..13f1b5766 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,42 @@
 
 <!-- <START NEW CHANGELOG ENTRY> -->
 
+## 1.7.1
+
+([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@1.7.0...b4621024c29a9d4d140e29643a426667ab35a758))
+
+### Enhancements made
+
+- Update README.md - under incubation [#517](https://github.com/jupyterlab/jupyter-ai/pull/517) ([@JasonWeill](https://github.com/JasonWeill))
+- Refactor ConfigManager.\_init_config [#527](https://github.com/jupyterlab/jupyter-ai/pull/527) ([@andrii-i](https://github.com/andrii-i))
+- Make Jupyternaut reply for API auth errors user-friendly [#513](https://github.com/jupyterlab/jupyter-ai/pull/513) ([@andrii-i](https://github.com/andrii-i))
+- \[1.x\] Respect user preferred dir and allow to configure logs dir [#528](https://github.com/jupyterlab/jupyter-ai/pull/528) ([@dlqqq](https://github.com/dlqqq))
+- Dynamically generate help message for slash commands in chat UI [#520](https://github.com/jupyterlab/jupyter-ai/pull/520) ([@krassowski](https://github.com/krassowski))
+- Upgrades to langchain 0.0.350 [#522](https://github.com/jupyterlab/jupyter-ai/pull/522) ([@JasonWeill](https://github.com/JasonWeill))
+- Run Python unit tests as a part of CI [#519](https://github.com/jupyterlab/jupyter-ai/pull/519) ([@andrii-i](https://github.com/andrii-i))
+
+### Bugs fixed
+
+- Handle LLMs lacking concurrency support in Chat UI [#506](https://github.com/jupyterlab/jupyter-ai/pull/506) ([@dlqqq](https://github.com/dlqqq))
+
+### Maintenance and upkeep improvements
+
+- Refactor ConfigManager.\_init_config [#527](https://github.com/jupyterlab/jupyter-ai/pull/527) ([@andrii-i](https://github.com/andrii-i))
+- Upgrades to langchain 0.0.350 [#522](https://github.com/jupyterlab/jupyter-ai/pull/522) ([@JasonWeill](https://github.com/JasonWeill))
+- Run Python unit tests as a part of CI [#519](https://github.com/jupyterlab/jupyter-ai/pull/519) ([@andrii-i](https://github.com/andrii-i))
+
+### Documentation improvements
+
+- Update README.md - under incubation [#517](https://github.com/jupyterlab/jupyter-ai/pull/517) ([@JasonWeill](https://github.com/JasonWeill))
+
+### Contributors to this release
+
+([GitHub contributors page for this release](https://github.com/jupyterlab/jupyter-ai/graphs/contributors?from=2023-12-11&to=2023-12-20&type=c))
+
+[@dlqqq](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Adlqqq+updated%3A2023-12-11..2023-12-20&type=Issues) | [@JasonWeill](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3AJasonWeill+updated%3A2023-12-11..2023-12-20&type=Issues) | [@lumberbot-app](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Alumberbot-app+updated%3A2023-12-11..2023-12-20&type=Issues) | [@meeseeksmachine](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Ameeseeksmachine+updated%3A2023-12-11..2023-12-20&type=Issues)
+
+<!-- <END NEW CHANGELOG ENTRY> -->
+
 ## 1.7.0
 
 ([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@1.6.0...4df01ac86754254ac3d52da23f291d4ba7cdf596))
@@ -30,8 +66,6 @@
 
 [@3coins](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3A3coins+updated%3A2023-11-16..2023-12-11&type=Issues) | [@dlqqq](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Adlqqq+updated%3A2023-11-16..2023-12-11&type=Issues) | [@meeseeksmachine](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Ameeseeksmachine+updated%3A2023-11-16..2023-12-11&type=Issues) | [@welcome](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Awelcome+updated%3A2023-11-16..2023-12-11&type=Issues) | [@Zsailer](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3AZsailer+updated%3A2023-11-16..2023-12-11&type=Issues)
 
-<!-- <END NEW CHANGELOG ENTRY> -->
-
 ## 1.6.0
 
 ([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@1.5.0...da5496468defe1c943e72dae5ee30a599bc55216))
diff --git a/lerna.json b/lerna.json
index 731a23724..900acb652 100644
--- a/lerna.json
+++ b/lerna.json
@@ -1,7 +1,7 @@
 {
   "$schema": "node_modules/lerna/schemas/lerna-schema.json",
   "useWorkspaces": true,
-  "version": "1.7.0",
+  "version": "1.7.1",
   "npmClient": "yarn",
   "useNx": true
 }
diff --git a/package.json b/package.json
index 1717adcb9..ff0d386d7 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/monorepo",
-  "version": "1.7.0",
+  "version": "1.7.1",
   "description": "A generative AI extension for JupyterLab",
   "private": true,
   "keywords": [
diff --git a/packages/jupyter-ai-magics/package.json b/packages/jupyter-ai-magics/package.json
index 8615d4ecb..726b52a4b 100644
--- a/packages/jupyter-ai-magics/package.json
+++ b/packages/jupyter-ai-magics/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/magics",
-  "version": "1.7.0",
+  "version": "1.7.1",
   "description": "Jupyter AI magics Python package. Not published on NPM.",
   "private": true,
   "homepage": "https://github.com/jupyterlab/jupyter-ai",
diff --git a/packages/jupyter-ai/package.json b/packages/jupyter-ai/package.json
index cc2472ae3..3ed39c7f6 100644
--- a/packages/jupyter-ai/package.json
+++ b/packages/jupyter-ai/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/core",
-  "version": "1.7.0",
+  "version": "1.7.1",
   "description": "A generative AI extension for JupyterLab",
   "keywords": [
     "jupyter",