diff --git a/versions.mk b/versions.mk
index 9b840c6a..d065d1e2 100644
--- a/versions.mk
+++ b/versions.mk
@@ -17,8 +17,8 @@ MODULE := github.com/NVIDIA/k8s-driver-manager
 
 vVERSION := v$(VERSION:v%=%)
 
-CUDA_VERSION := 12.3.0
-GOLANG_VERSION ?= 1.20.2
+CUDA_VERSION := 12.3.1
+GOLANG_VERSION ?= 1.21.7
 
 BUILDIMAGE_TAG ?= devel-go$(GOLANG_VERSION)
 BUILDIMAGE ?=  ghcr.io/nvidia/k8s-test-infra:$(BUILDIMAGE_TAG)