diff --git a/cli/azd/extensions/azure.ai.agents/CHANGELOG.md b/cli/azd/extensions/azure.ai.agents/CHANGELOG.md
index 1996dff882e..9957504b172 100644
--- a/cli/azd/extensions/azure.ai.agents/CHANGELOG.md
+++ b/cli/azd/extensions/azure.ai.agents/CHANGELOG.md
@@ -1,5 +1,24 @@
 # Release History
 
+## 0.1.33-preview (2026-05-21)
+
+- [[#8299]](https://github.com/Azure/azure-dev/pull/8299) Don't fail `azd ai agent init` when Foundry agent existence checks error.
+- [[#8298]](https://github.com/Azure/azure-dev/pull/8298) Use the selected agent name for service entry when resolving Foundry name conflicts.
+- [[#8292]](https://github.com/Azure/azure-dev/pull/8292) Decouple Foundry project selection from model configuration during agent init.
+- [[#8271]](https://github.com/Azure/azure-dev/pull/8271) Remove the 0.25 CPU option for hosted agents.
+- [[#8266]](https://github.com/Azure/azure-dev/pull/8266) Add `azd ai agent sample list` and improve non-interactive `azd ai agent init`.
+- [[#8245]](https://github.com/Azure/azure-dev/pull/8245) Rename the project endpoint environment variable to `FOUNDRY_PROJECT_ENDPOINT`.
+- [[#8242]](https://github.com/Azure/azure-dev/pull/8242) Skip ACR creation and startup command configuration for code deploy.
+- [[#8233]](https://github.com/Azure/azure-dev/pull/8233) Allow `azd ai agent invoke` to target specific versions.
+- [[#8206]](https://github.com/Azure/azure-dev/pull/8206) Support header isolation keys for agent sessions.
+- [[#8189]](https://github.com/Azure/azure-dev/pull/8189) Add naming safeguards for `azd ai agent init`.
+- [[#7898]](https://github.com/Azure/azure-dev/pull/7898) Remove the hardcoded invoke suggestion from `azd ai agent run`.
+
+### Breaking Changes
+
+- [[#8293]](https://github.com/Azure/azure-dev/pull/8293) Remove deprecated runtimes (Python 3.11/3.12 and .NET 8/9) from `azd ai agent init`.
+- [[#8243]](https://github.com/Azure/azure-dev/pull/8243) Migrate project endpoint commands to the new scaffold.
+
 ## 0.1.32-preview (2026-05-18)
 
 - [[#8223]](https://github.com/Azure/azure-dev/pull/8223) Add `.agentignore` support for controlling which files are excluded from agent code-deploy ZIP packaging. Uses `.gitignore` syntax with sensible defaults generated during `azd ai agent init`.
diff --git a/cli/azd/extensions/azure.ai.agents/extension.yaml b/cli/azd/extensions/azure.ai.agents/extension.yaml
index 3cdcb7b2daf..b7df68aed04 100644
--- a/cli/azd/extensions/azure.ai.agents/extension.yaml
+++ b/cli/azd/extensions/azure.ai.agents/extension.yaml
@@ -5,7 +5,7 @@ displayName: Foundry agents (Preview)
 description: Ship agents with Microsoft Foundry from your terminal. (Preview)
 usage: azd ai agent <command> [options]
 # NOTE: Make sure version.txt is in sync with this version.
-version: 0.1.32-preview
+version: 0.1.33-preview
 requiredAzdVersion: ">1.23.13"
 language: go
 capabilities:
diff --git a/cli/azd/extensions/azure.ai.agents/version.txt b/cli/azd/extensions/azure.ai.agents/version.txt
index 8deb1f167f3..9450788bee2 100644
--- a/cli/azd/extensions/azure.ai.agents/version.txt
+++ b/cli/azd/extensions/azure.ai.agents/version.txt
@@ -1 +1 @@
-0.1.32-preview
+0.1.33-preview