diff --git a/charts/matrix-stack/source/synapse.yaml.j2 b/charts/matrix-stack/source/synapse.yaml.j2
index 69bcb1a6c..5eba29d8f 100644
--- a/charts/matrix-stack/source/synapse.yaml.j2
+++ b/charts/matrix-stack/source/synapse.yaml.j2
@@ -84,7 +84,7 @@ logging:
   ## levelOverrides:
   ##   synapse.util.caches.lrucache: WARNING
   levelOverrides: {}
-{{- sub_schema_values.image(registry='ghcr.io', repository='element-hq/synapse', tag='v1.139.2') }}
+{{- sub_schema_values.image(registry='ghcr.io', repository='element-hq/synapse', tag='v1.140.0rc1') }}
 {{- sub_schema_values.ingress() }}
 {{- sub_schema_values.labels() }}
 {{- sub_schema_values.workloadAnnotations() }}
diff --git a/charts/matrix-stack/values.yaml b/charts/matrix-stack/values.yaml
index 468515593..d3e892200 100644
--- a/charts/matrix-stack/values.yaml
+++ b/charts/matrix-stack/values.yaml
@@ -3971,7 +3971,7 @@ synapse:
 
     ## The tag of the container image to use.
     ## One of tag or digest must be provided.
-    tag: "v1.139.2"
+    tag: "v1.140.0rc1"
 
     ## Container digest to use. Used to pull the image instead of the image tag if set
     ## The tag will still be set as the app.kubernetes.io/version label
diff --git a/newsfragments/799.changed.md b/newsfragments/799.changed.md
new file mode 100644
index 000000000..68f721841
--- /dev/null
+++ b/newsfragments/799.changed.md
@@ -0,0 +1,8 @@
+Upgrade Synapse to v1.140.0.
+
+Highlights:
+- Add a new [Media Query by ID Admin API](https://element-hq.github.io/synapse/v1.140/admin_api/media_admin_api.html#query-a-piece-of-media-by-id) that allows server admins to query and investigate the metadata of local or cached remote media via the origin/media_id identifier found in a Matrix Content URI
+- Add experimental implementation of the `GET /_matrix/client/v1/rtc/transports` endpoint for the latest draft of [MSC4143: MatrixRTC](https://github.com/matrix-org/matrix-spec-proposals/pull/4143)
+
+Full Changelogs:
+- [v1.140.0](https://github.com/element-hq/synapse/releases/tag/v1.140.0)