diff --git a/README.md b/README.md
index 8223fb0951..abaf5704a6 100644
--- a/README.md
+++ b/README.md
@@ -41,27 +41,27 @@ This repo periodically syncs all official Kubeflow components from their respect
 
 | Component | Local Manifests Path | Upstream Revision |
 | - | - | - |
-| Training Operator | apps/training-operator/upstream | [v1.3.0](https://github.com/kubeflow/tf-operator/tree/v1.3.0/manifests) |
-| Notebook Controller | apps/jupyter/notebook-controller/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/notebook-controller/config) |
-| Tensorboard Controller | apps/tensorboard/tensorboard-controller/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/tensorboard-controller/config) |
-| Central Dashboard | apps/centraldashboard/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/centraldashboard/manifests) |
-| Profiles + KFAM | apps/profiles/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/profile-controller/config) |
-| PodDefaults Webhook | apps/admission-webhook/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/admission-webhook/manifests) |
-| Jupyter Web App | apps/jupyter/jupyter-web-app/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/crud-web-apps/jupyter/manifests) |
-| Tensorboards Web App | apps/tensorboard/tensorboards-web-app/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/crud-web-apps/tensorboards/manifests) |
-| Volumes Web App | apps/volumes-web-app/upstream | [v1.4.0](https://github.com/kubeflow/kubeflow/tree/v1.4.0/components/crud-web-apps/volumes/manifests) |
-| Katib | apps/katib/upstream | [v0.12.0](https://github.com/kubeflow/katib/tree/v0.12.0/manifests/v1beta1) |
-| KFServing | apps/kfserving/upstream | [v0.6.1](https://github.com/kserve/kserve/tree/v0.6.1) |
+| Training Operator | apps/training-operator/upstream | [v1.4.0-rc.0](https://github.com/kubeflow/tf-operator/tree/v1.4.0-rc.0/manifests) |
+| Notebook Controller | apps/jupyter/notebook-controller/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/notebook-controller/config) |
+| Tensorboard Controller | apps/tensorboard/tensorboard-controller/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/tensorboard-controller/config) |
+| Central Dashboard | apps/centraldashboard/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/centraldashboard/manifests) |
+| Profiles + KFAM | apps/profiles/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/profile-controller/config) |
+| PodDefaults Webhook | apps/admission-webhook/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/admission-webhook/manifests) |
+| Jupyter Web App | apps/jupyter/jupyter-web-app/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/crud-web-apps/jupyter/manifests) |
+| Tensorboards Web App | apps/tensorboard/tensorboards-web-app/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/crud-web-apps/tensorboards/manifests) |
+| Volumes Web App | apps/volumes-web-app/upstream | [v1.5.0-rc.0](https://github.com/kubeflow/kubeflow/tree/v1.5.0-rc.0/components/crud-web-apps/volumes/manifests) |
+| Katib | apps/katib/upstream | [v0.13.0-rc.0](https://github.com/kubeflow/katib/tree/v0.12.0-rc.0/manifests/v1beta1) |
+| KFServing | apps/kfserving/upstream | [v0.6.1](https://github.com/kubeflow/kfserving/releases/tag/v0.6.1) |
 | KServe | contrib/kserve/upstream | [v0.7.0](https://github.com/kserve/kserve/tree/v0.7.0) |
-| Kubeflow Pipelines | apps/pipeline/upstream | [1.7.0](https://github.com/kubeflow/pipelines/tree/1.7.0/manifests/kustomize) |
-| Kubeflow Tekton Pipelines | apps/kfp-tekton/upstream | [v1.0.0](https://github.com/kubeflow/kfp-tekton/tree/v1.0.0/manifests/kustomize) |
+| Kubeflow Pipelines | apps/pipeline/upstream | [1.8.0-rc.1](https://github.com/kubeflow/pipelines/tree/1.8.0-rc.1/manifests/kustomize) |
+| Kubeflow Tekton Pipelines | apps/kfp-tekton/upstream | [v1.1.0](https://github.com/kubeflow/kfp-tekton/tree/v1.1.0/manifests/kustomize) |
 
 The following is also a matrix with versions from common components that are
 used from the different projects of Kubeflow:
 
 | Component | Local Manifests Path | Upstream Revision |
 | - | - | - |
-| Istio | common/istio-1-9 | [1.9.6](https://github.com/istio/istio/releases/tag/1.9.6) |
+| Istio | common/istio-1-11 | [1.11.0](https://github.com/istio/istio/releases/tag/1.11.0) |
 | Knative | common/knative | [0.22.1](https://github.com/knative/serving/releases/tag/v0.22.1) |
 
 ## Installation
@@ -133,9 +133,9 @@ network authorization and implement routing policies.
 Install Istio:
 
 ```sh
-kustomize build common/istio-1-9/istio-crds/base | kubectl apply -f -
-kustomize build common/istio-1-9/istio-namespace/base | kubectl apply -f -
-kustomize build common/istio-1-9/istio-install/base | kubectl apply -f -
+kustomize build common/istio-1-11/istio-crds/base | kubectl apply -f -
+kustomize build common/istio-1-11/istio-namespace/base | kubectl apply -f -
+kustomize build common/istio-1-11/istio-install/base | kubectl apply -f -
 ```
 
 #### Dex
@@ -164,7 +164,7 @@ Install Knative Serving:
 
 ```sh
 kustomize build common/knative/knative-serving/base | kubectl apply -f -
-kustomize build common/istio-1-9/cluster-local-gateway/base | kubectl apply -f -
+kustomize build common/istio-1-11/cluster-local-gateway/base | kubectl apply -f -
 ```
 
 Optionally, you can install Knative Eventing which can be used for inference request logging:
@@ -206,7 +206,7 @@ well.
 Install istio resources:
 
 ```sh
-kustomize build common/istio-1-9/kubeflow-istio-resources/base | kubectl apply -f -
+kustomize build common/istio-1-11/kubeflow-istio-resources/base | kubectl apply -f -
 ```
 
 #### Kubeflow Pipelines