diff --git a/Tiltfile b/Tiltfile
index b55d39fa75..5043a88581 100644
--- a/Tiltfile
+++ b/Tiltfile
@@ -4,7 +4,7 @@ load('ext://namespace', 'namespace_create')
 
 set_team('52cc75cc-c4ed-462f-8ea7-a543d398a381')
 
-version = '0.12.0'
+version = '0.12.1-rc1'
 config.define_string_list('allowedContexts')
 config.define_string_list('opniChartValues')
 config.define_string('defaultRegistry')
diff --git a/dagger/ci/defaults.toml b/dagger/ci/defaults.toml
index 18abe492b9..6f16915bd7 100644
--- a/dagger/ci/defaults.toml
+++ b/dagger/ci/defaults.toml
@@ -26,7 +26,7 @@ test = true
 [images.opensearch.build]
 	dashboards-version = "2.8.0"
 	opensearch-version = "2.8.0"
-	plugin-version = "0.12.0"
+	plugin-version = "0.12.1-rc1"
 
 [images.opensearch.dashboards]
 	repo = "docker.io/rancher/opensearch-dashboards"
diff --git a/dagger/config/setup.go b/dagger/config/setup.go
index 35dd739cbe..51f66e2358 100644
--- a/dagger/config/setup.go
+++ b/dagger/config/setup.go
@@ -61,7 +61,7 @@ func RunSetup() {
 					Build: OpensearchBuildConfig{
 						DashboardsVersion: "2.8.0",
 						OpensearchVersion: "2.8.0",
-						PluginVersion:     "0.12.0",
+						PluginVersion:     "0.12.1-rc1",
 					},
 				},
 			},
diff --git a/packages/opni-agent/opni-agent/charts/Chart.yaml b/packages/opni-agent/opni-agent/charts/Chart.yaml
index bdfa6d50a5..8954fb9f4e 100644
--- a/packages/opni-agent/opni-agent/charts/Chart.yaml
+++ b/packages/opni-agent/opni-agent/charts/Chart.yaml
@@ -4,7 +4,7 @@ annotations:
   catalog.rancher.io/namespace: opni-system
   catalog.rancher.io/release-name: opni-agent
 apiVersion: v2
-appVersion: 0.12.0
+appVersion: 0.12.1-rc1
 dependencies:
 - condition: kube-prometheus-stack.enabled
   name: kube-prometheus-stack
@@ -12,4 +12,4 @@ dependencies:
 description: Opni Agent
 name: opni-agent
 type: application
-version: 0.12.0
+version: 0.12.1-rc1
diff --git a/packages/opni-agent/opni-agent/package.yaml b/packages/opni-agent/opni-agent/package.yaml
index b64c3ccfa9..7e50c2df4c 100644
--- a/packages/opni-agent/opni-agent/package.yaml
+++ b/packages/opni-agent/opni-agent/package.yaml
@@ -1,3 +1,3 @@
 url: local
-version: 0.12.0
+version: 0.12.1-rc1
 workingDir: charts
diff --git a/packages/opni/opni/charts/Chart.yaml b/packages/opni/opni/charts/Chart.yaml
index 21c8b08ecf..c2d4aade43 100644
--- a/packages/opni/opni/charts/Chart.yaml
+++ b/packages/opni/opni/charts/Chart.yaml
@@ -5,7 +5,7 @@ annotations:
   catalog.rancher.io/namespace: opni-cluster-system
   catalog.rancher.io/release-name: opni
 apiVersion: v2
-appVersion: 0.12.0
+appVersion: 0.12.1-rc1
 dependencies:
 - condition: opni-agent.kube-prometheus-stack.enabled
   name: kube-prometheus-stack
@@ -31,4 +31,4 @@ maintainers:
   name: Dan Bason
 name: opni
 type: application
-version: 0.12.0
+version: 0.12.1-rc1
diff --git a/packages/opni/opni/package.yaml b/packages/opni/opni/package.yaml
index 8d85dd5f9b..baa88a79f4 100644
--- a/packages/opni/opni/package.yaml
+++ b/packages/opni/opni/package.yaml
@@ -1,5 +1,5 @@
 url: local
-version: 0.12.0
+version: 0.12.1-rc1
 workingDir: charts
 additionalCharts:
   - workingDir: charts-crd
diff --git a/pkg/resources/opniopensearch/resources.go b/pkg/resources/opniopensearch/resources.go
index 7d2939caf6..58bea0c497 100644
--- a/pkg/resources/opniopensearch/resources.go
+++ b/pkg/resources/opniopensearch/resources.go
@@ -47,7 +47,7 @@ func (r *Reconciler) buildOpensearchCluster(
 	// Set default image version
 	version := r.instance.Spec.Version
 	if version == "unversioned" {
-		version = "0.12.0"
+		version = "0.12.1-rc1"
 	}
 
 	image := calculateImage(r.instance.Spec.ImageRepo, version, r.instance.Spec.OpensearchVersion)
diff --git a/plugins/aiops/pkg/gateway/plugin.go b/plugins/aiops/pkg/gateway/plugin.go
index 3f9adb9b51..becb47a8b2 100644
--- a/plugins/aiops/pkg/gateway/plugin.go
+++ b/plugins/aiops/pkg/gateway/plugin.go
@@ -91,7 +91,7 @@ func NewPlugin(ctx context.Context, opts ...PluginOption) *AIOpsPlugin {
 			Name:      "opni",
 			Namespace: os.Getenv("POD_NAMESPACE"),
 		},
-		version: "v0.12.0",
+		version: "v0.12.1-rc1",
 	}
 	options.apply(opts...)
 
diff --git a/plugins/logging/pkg/gateway/admin_v2.go b/plugins/logging/pkg/gateway/admin_v2.go
index be00df1977..a8e277ebd7 100644
--- a/plugins/logging/pkg/gateway/admin_v2.go
+++ b/plugins/logging/pkg/gateway/admin_v2.go
@@ -26,7 +26,7 @@ import (
 	corev1 "k8s.io/api/core/v1"
 )
 
-const defaultOpniVersion = "0.12.0"
+const defaultOpniVersion = "0.12.1-rc1"
 
 type ClusterStatus int
 
diff --git a/plugins/logging/pkg/gateway/drivers/management/kubernetes_manager/kubernetes_manager_test.go b/plugins/logging/pkg/gateway/drivers/management/kubernetes_manager/kubernetes_manager_test.go
index b198a7926f..50a153c16d 100644
--- a/plugins/logging/pkg/gateway/drivers/management/kubernetes_manager/kubernetes_manager_test.go
+++ b/plugins/logging/pkg/gateway/drivers/management/kubernetes_manager/kubernetes_manager_test.go
@@ -69,7 +69,7 @@ var _ = Describe("Opensearch Admin V2", Ordered, Label("integration"), func() {
 
 	BeforeEach(func() {
 		namespace = "test-logging-v2"
-		version = "0.12.0"
+		version = "0.12.1-rc1"
 		opensearchVersion = "2.8.0"
 
 		security = &opsterv1.Security{
@@ -85,7 +85,7 @@ var _ = Describe("Opensearch Admin V2", Ordered, Label("integration"), func() {
 		}
 		dashboards = opsterv1.DashboardsConfig{
 			ImageSpec: &opsterv1.ImageSpec{
-				Image: lo.ToPtr("docker.io/rancher/opensearch-dashboards:v0.12.0-2.8.0"),
+				Image: lo.ToPtr("docker.io/rancher/opensearch-dashboards:v0.12.1-rc1-2.8.0"),
 			},
 			Replicas: 1,
 			Enable:   true,
@@ -1157,7 +1157,7 @@ var _ = Describe("Opensearch Admin V2", Ordered, Label("integration"), func() {
 					})
 				}, timeout, interval).Should(BeTrue())
 				Expect(object.Spec.Security).To(Equal(security))
-				Expect(object.Spec.Version).To(Equal("0.12.0"))
+				Expect(object.Spec.Version).To(Equal("0.12.1-rc1"))
 				Expect(len(object.Spec.NodePools)).To(Equal(2))
 			})
 			When("upgrade is available", func() {
@@ -1168,7 +1168,7 @@ var _ = Describe("Opensearch Admin V2", Ordered, Label("integration"), func() {
 					}, object)
 					Expect(err).NotTo(HaveOccurred())
 					object.Status.OpensearchVersion = lo.ToPtr("2.8.0")
-					object.Status.Version = lo.ToPtr("0.12.0")
+					object.Status.Version = lo.ToPtr("0.12.1-rc1")
 					Expect(k8sClient.Status().Update(context.Background(), object)).To(Succeed())
 				})
 				Specify("check upgrade available should return true", func() {
diff --git a/test/plugins/aiops/admin_test.go b/test/plugins/aiops/admin_test.go
index f44832a10d..769dff4a6f 100644
--- a/test/plugins/aiops/admin_test.go
+++ b/test/plugins/aiops/admin_test.go
@@ -530,7 +530,7 @@ var _ = Describe("AI Admin", Ordered, Label("integration"), func() {
 		})
 		When("new version is available", func() {
 			BeforeEach(func() {
-				version = "v0.12.0"
+				version = "v0.12.1-rc1"
 			})
 			When("updating the opni cluster", func() {
 				BeforeEach(func() {
@@ -569,7 +569,7 @@ var _ = Describe("AI Admin", Ordered, Label("integration"), func() {
 					Name:      OpniServicesName,
 					Namespace: namespace,
 				}, cluster)).Should(Succeed())
-				Expect(cluster.Spec.Version).To(Equal("v0.12.0"))
+				Expect(cluster.Spec.Version).To(Equal("v0.12.1-rc1"))
 			})
 		})
 		When("new version is older", func() {