diff --git a/VERSION b/VERSION
index f0017ff768..707d5fac27 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v0.39.1
+v0.40.0
diff --git a/docs/releases/v0.40.0.md b/docs/releases/v0.40.0.md
new file mode 100644
index 0000000000..66d6a5a4f7
--- /dev/null
+++ b/docs/releases/v0.40.0.md
@@ -0,0 +1,17 @@
+# Changelog
+
+## [v0.40.0](https://github.com/aws-observability/aws-otel-collector/tree/v0.40.0) (2024-06-25)
+
+* Updated OpenTelemetry Collector dependencies to `v1.9.0`/`v0.102.1`
+* Updated OpenTelemetry Collector contrib dependencies to `v0.102.0`
+
+_Note:_ The `envprovider` configuration source has been modified upstream to require that environment
+variable names must be ASCII only, start with either a letter or an underscore, and contain only
+underscores, letters, or numbers.  See [here](https://github.com/open-telemetry/opentelemetry-collector/blob/main/CHANGELOG.md#-breaking-changes--1)
+for more details.
+
+[Full Changelog](https://github.com/aws-observability/aws-otel-collector/compare/v0.39.1...v0.40.0)
+
+**Merged pull requests:**
+
+- fix missing escape of `$` on replacement placeholders [#2751](https://github.com/aws-observability/aws-otel-collector/pull/2751)
diff --git a/tools/packaging/windows/aws-otel-collector.wxs b/tools/packaging/windows/aws-otel-collector.wxs
index 638846c92e..dce8029c89 100644
--- a/tools/packaging/windows/aws-otel-collector.wxs
+++ b/tools/packaging/windows/aws-otel-collector.wxs
@@ -3,7 +3,7 @@
     <Product Id="EBBD8548-75D1-41D3-A402-ABE189F0C167"
 UpgradeCode="B7C263DD-95A5-436A-A025-DCA5200C2BE3"
 Name="ADOT Collector"
-Version="0.39.1"
+Version="0.40.0"
 Codepage='1252'
 Manufacturer="Amazon.com, Inc."
 Language="1033">
@@ -24,10 +24,10 @@ Platform="x64"
     />
 
     <MajorUpgrade
-    AllowDowngrades="no" 
+    AllowDowngrades="no"
     DowngradeErrorMessage="A later version of ADOT Collector is already installed. Setup will now exit"
     AllowSameVersionUpgrades="no" />
-    
+
     <MediaTemplate EmbedCab="yes"/>
 
     <Feature Id="ProductFeature" Title="ADOT Collector" Level="1">