diff --git a/eng/Versions.props b/eng/Versions.props
index daf1521c07ad..5ef5180a48f6 100644
--- a/eng/Versions.props
+++ b/eng/Versions.props
@@ -222,7 +222,8 @@
       or minor release, prebuilts may be needed. When the release is mature, prebuilts are not
       necessary, and this property is removed from the file.
     -->
-    <PrivateSourceBuiltArtifactsPackageVersion>7.0.115</PrivateSourceBuiltArtifactsPackageVersion>
+    <PrivateSourceBuiltSDKVersion>7.0.116</PrivateSourceBuiltSDKVersion>
+    <PrivateSourceBuiltArtifactsPackageVersion>7.0.116</PrivateSourceBuiltArtifactsPackageVersion>
   </PropertyGroup>
   <!-- Workload manifest package versions -->
   <PropertyGroup>
diff --git a/src/SourceBuild/tarball/content/global.json b/src/SourceBuild/tarball/content/global.json
index ff635fdbf715..68bdc9ac865a 100644
--- a/src/SourceBuild/tarball/content/global.json
+++ b/src/SourceBuild/tarball/content/global.json
@@ -1,6 +1,6 @@
 {
   "tools": {
-    "dotnet": "7.0.115"
+    "dotnet": "7.0.116"
   },
   "msbuild-sdks": {
     "Microsoft.Build.CentralPackageVersions": "2.0.1",