diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4f38cda1f..9351011ac 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,8 +2,6 @@
 
 ## Unreleased
 
-## Version 1.47.0 (2025-05-19)
-
 ### GCP authentication extension
 
 - Update the internal implementation such that the required headers are retrieved
diff --git a/version.gradle.kts b/version.gradle.kts
index 4d162323b..0ae7508cb 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "1.48.0-SNAPSHOT"
-val alphaVersion = "1.48.0-alpha-SNAPSHOT"
+val stableVersion = "1.47.0-SNAPSHOT"
+val alphaVersion = "1.47.0-alpha-SNAPSHOT"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {