diff --git a/CHANGELOG.md b/CHANGELOG.md
index 057342ded..2caf59447 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,22 @@
 # Changelog
 
+## 2.47.0-rc.0 / 2023-08-25
+
+* [FEATURE] Web: Add OpenTelemetry (OTLP) Ingestion endpoint. #12571 #12643
+* [FEATURE] Scraping: Optionally limit detail on dropped targets, to save memory. #12647
+* [ENHANCEMENT] TSDB: Write head chunks to disk in the background to reduce blocking. #11818
+* [ENHANCEMENT] PromQL: Speed up aggregate and function queries. #12682
+* [ENHANCEMENT] PromQL: More efficient evaluation of query with `timestamp()`. #12579
+* [ENHANCEMENT] API: Faster streaming of Labels to JSON. #12598
+* [ENHANCEMENT] Agent: Memory pooling optimisation. #12651
+* [ENHANCEMENT] TSDB: Prevent storage space leaks due to terminated snapshots on shutdown. #12664
+* [ENHANCEMENT] Histograms: Refactoring and optimisations. #12352 #12584 #12596 #12711 #12054
+* [ENHANCEMENT] Histograms: Add `histogram_stdvar` and `histogram_stddev` functions. #12614
+* [ENHANCEMENT] Remote-write: add http.resend_count tracing attribute. #12676
+* [ENHANCEMENT] TSDB: Support native histograms in snapshot on shutdown. #12722
+* [BUGFIX] TSDB/Agent: ensure that new series get written to WAL on rollback. #12592
+* [BUGFIX] Scraping: fix infinite loop on exemplar in protobuf format. #12737
+
 ## 2.46.0 / 2023-07-25
 
 * [FEATURE] Promtool: Add PromQL format and label matcher set/delete commands to promtool. #11411
diff --git a/VERSION b/VERSION
index cc8758303..7c7b5c2b4 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.46.0
+2.47.0-rc.0
diff --git a/web/ui/module/codemirror-promql/package.json b/web/ui/module/codemirror-promql/package.json
index 8a9dbcb08..98441b28d 100644
--- a/web/ui/module/codemirror-promql/package.json
+++ b/web/ui/module/codemirror-promql/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@prometheus-io/codemirror-promql",
-  "version": "0.46.0",
+  "version": "0.47.0-rc.0",
   "description": "a CodeMirror mode for the PromQL language",
   "types": "dist/esm/index.d.ts",
   "module": "dist/esm/index.js",
@@ -29,7 +29,7 @@
   },
   "homepage": "https://github.com/prometheus/prometheus/blob/main/web/ui/module/codemirror-promql/README.md",
   "dependencies": {
-    "@prometheus-io/lezer-promql": "0.46.0",
+    "@prometheus-io/lezer-promql": "0.47.0-rc.0",
     "lru-cache": "^6.0.0"
   },
   "devDependencies": {
diff --git a/web/ui/module/lezer-promql/package.json b/web/ui/module/lezer-promql/package.json
index 6e4f599a3..21e15d46c 100644
--- a/web/ui/module/lezer-promql/package.json
+++ b/web/ui/module/lezer-promql/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@prometheus-io/lezer-promql",
-  "version": "0.46.0",
+  "version": "0.47.0-rc.0",
   "description": "lezer-based PromQL grammar",
   "main": "dist/index.cjs",
   "type": "module",
diff --git a/web/ui/package-lock.json b/web/ui/package-lock.json
index f6593bee9..23a0328a7 100644
--- a/web/ui/package-lock.json
+++ b/web/ui/package-lock.json
@@ -28,10 +28,10 @@
     },
     "module/codemirror-promql": {
       "name": "@prometheus-io/codemirror-promql",
-      "version": "0.46.0",
+      "version": "0.47.0-rc.0",
       "license": "Apache-2.0",
       "dependencies": {
-        "@prometheus-io/lezer-promql": "0.46.0",
+        "@prometheus-io/lezer-promql": "0.47.0-rc.0",
         "lru-cache": "^6.0.0"
       },
       "devDependencies": {
@@ -61,7 +61,7 @@
     },
     "module/lezer-promql": {
       "name": "@prometheus-io/lezer-promql",
-      "version": "0.46.0",
+      "version": "0.47.0-rc.0",
       "license": "Apache-2.0",
       "devDependencies": {
         "@lezer/generator": "^1.2.3",
@@ -20765,7 +20765,7 @@
     },
     "react-app": {
       "name": "@prometheus-io/app",
-      "version": "0.46.0",
+      "version": "0.47.0-rc.0",
       "dependencies": {
         "@codemirror/autocomplete": "^6.7.1",
         "@codemirror/commands": "^6.2.4",
@@ -20783,7 +20783,7 @@
         "@lezer/lr": "^1.3.6",
         "@nexucis/fuzzy": "^0.4.1",
         "@nexucis/kvsearch": "^0.8.1",
-        "@prometheus-io/codemirror-promql": "0.46.0",
+        "@prometheus-io/codemirror-promql": "0.47.0-rc.0",
         "bootstrap": "^4.6.2",
         "css.escape": "^1.5.1",
         "downshift": "^7.6.0",
@@ -23423,7 +23423,7 @@
         "@lezer/lr": "^1.3.6",
         "@nexucis/fuzzy": "^0.4.1",
         "@nexucis/kvsearch": "^0.8.1",
-        "@prometheus-io/codemirror-promql": "0.46.0",
+        "@prometheus-io/codemirror-promql": "0.47.0-rc.0",
         "@testing-library/react-hooks": "^7.0.2",
         "@types/enzyme": "^3.10.13",
         "@types/flot": "0.0.32",
@@ -23487,7 +23487,7 @@
         "@lezer/common": "^1.0.3",
         "@lezer/highlight": "^1.1.6",
         "@lezer/lr": "^1.3.6",
-        "@prometheus-io/lezer-promql": "0.46.0",
+        "@prometheus-io/lezer-promql": "0.47.0-rc.0",
         "@types/lru-cache": "^5.1.1",
         "isomorphic-fetch": "^3.0.0",
         "lru-cache": "^6.0.0",
diff --git a/web/ui/react-app/package.json b/web/ui/react-app/package.json
index 969de4279..310256825 100644
--- a/web/ui/react-app/package.json
+++ b/web/ui/react-app/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@prometheus-io/app",
-  "version": "0.46.0",
+  "version": "0.47.0-rc.0",
   "private": true,
   "dependencies": {
     "@codemirror/autocomplete": "^6.7.1",
@@ -19,7 +19,7 @@
     "@lezer/common": "^1.0.3",
     "@nexucis/fuzzy": "^0.4.1",
     "@nexucis/kvsearch": "^0.8.1",
-    "@prometheus-io/codemirror-promql": "0.46.0",
+    "@prometheus-io/codemirror-promql": "0.47.0-rc.0",
     "bootstrap": "^4.6.2",
     "css.escape": "^1.5.1",
     "downshift": "^7.6.0",