diff --git a/instrumentation/elastic-opentelemetry-instrumentation-openai/CHANGELOG.md b/instrumentation/elastic-opentelemetry-instrumentation-openai/CHANGELOG.md
index 76b46dc..ce968ca 100644
--- a/instrumentation/elastic-opentelemetry-instrumentation-openai/CHANGELOG.md
+++ b/instrumentation/elastic-opentelemetry-instrumentation-openai/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Elastic OpenTelemetry Instrumentation OpenAI
 
+## v0.5.0
+
+- Sync embeddings calls tracing with semantic conventions 1.29.0 (#36)
+- Drop span events support for events, ELASTIC_OTEL_GENAI_EVENTS environment variable is gone (#38)
+- Relax opentelemetry-api dependency so it supports 1.29.0+ (#40)
+
 ## v0.4.0
 
 - Add support for tracing embeddings calls (#20)
diff --git a/instrumentation/elastic-opentelemetry-instrumentation-openai/pyproject.toml b/instrumentation/elastic-opentelemetry-instrumentation-openai/pyproject.toml
index 82a89f0..cfbec99 100644
--- a/instrumentation/elastic-opentelemetry-instrumentation-openai/pyproject.toml
+++ b/instrumentation/elastic-opentelemetry-instrumentation-openai/pyproject.toml
@@ -25,8 +25,8 @@ classifiers = [
     "Programming Language :: Python :: 3.12",
 ]
 dependencies = [
-    # 1.28.2 is required for Events API/SDK
-    "opentelemetry-api ~= 1.28.2",
+    # 1.28.2 is required for *robust* Events API/SDK
+    "opentelemetry-api ~= 1.28",
     "opentelemetry-instrumentation ~= 0.49b2",
     "opentelemetry-semantic-conventions ~= 0.49b2",
     "wrapt >= 1.0.0, < 2.0.0",
diff --git a/instrumentation/elastic-opentelemetry-instrumentation-openai/src/opentelemetry/instrumentation/openai/version.py b/instrumentation/elastic-opentelemetry-instrumentation-openai/src/opentelemetry/instrumentation/openai/version.py
index 8553527..ac55bbd 100644
--- a/instrumentation/elastic-opentelemetry-instrumentation-openai/src/opentelemetry/instrumentation/openai/version.py
+++ b/instrumentation/elastic-opentelemetry-instrumentation-openai/src/opentelemetry/instrumentation/openai/version.py
@@ -14,4 +14,4 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-__version__ = "0.4.0"
+__version__ = "0.5.0"