diff --git a/CHANGELOG.md b/CHANGELOG.md
index 30a2257..dd86673 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,7 +2,7 @@
 MLEM tries to adhere to [semantic versioning](https://semver.org/). Potentially breaking changes are written in **bold**.
 
 Jump to version:
-- [7.0.1](#701-in-development)
+- [7.1.0](#710-in-development)
 - [7.0.0](#700)
 - [6.3.1](#631)
 - [6.3.0](#630)
@@ -14,7 +14,7 @@ Jump to version:
 - [5.1.0](#510)
 - [5.0.0](#500)
 
-## 7.0.1 (In Development)
+## 7.1.0 (In Development)
 
 ### MLEM
 Additions
diff --git a/build.cake b/build.cake
index d69e46a..de1364a 100644
--- a/build.cake
+++ b/build.cake
@@ -2,7 +2,7 @@
 #tool dotnet:?package=docfx&version=2.75.3
 
 // this is the upcoming version, for prereleases
-var version = Argument("version", "7.0.1");
+var version = Argument("version", "7.1.0");
 var target = Argument("target", "Default");
 var gitRef = Argument("ref", "refs/heads/main");
 var buildNum = Argument("buildNum", "");