diff --git a/exla/CHANGELOG.md b/exla/CHANGELOG.md
index ec501e9e2b..ccb7a7d3cf 100644
--- a/exla/CHANGELOG.md
+++ b/exla/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+## Unreleased
+
+  * The precompiled XLA CUDA binaries now require CUDA 12.1+ and cuDNN 9.1+
+  * Renamed `XLA_TARGET` value "cuda120" to "cuda12"
+  * `XLA_TARGET` automatically defaults to "cuda12" when CUDA installation is detected
+
 ## v0.7.1 (2024-02-27)
 
   * Add CustomCallOp for QR decomposition
diff --git a/exla/mix.exs b/exla/mix.exs
index cf6105f2e4..73ff70d443 100644
--- a/exla/mix.exs
+++ b/exla/mix.exs
@@ -66,7 +66,7 @@ defmodule EXLA.MixProject do
       # {:nx, "~> 0.7.1"},
       {:nx, path: "../nx"},
       {:telemetry, "~> 0.4.0 or ~> 1.0"},
-      {:xla, "~> 0.7.1", runtime: false},
+      {:xla, "~> 0.8.0", runtime: false},
       {:elixir_make, "~> 0.6", runtime: false},
       {:benchee, "~> 1.0", only: :dev},
       {:ex_doc, "~> 0.29", only: :docs},
diff --git a/exla/mix.lock b/exla/mix.lock
index 020904255b..ff0a609038 100644
--- a/exla/mix.lock
+++ b/exla/mix.lock
@@ -13,5 +13,5 @@
   "nx": {:hex, :nx, "0.7.1", "5f6376e3d18408116e8a84b8f4ac851fb07dfe61764a5410ebf0b5dcb69c1b7e", [:mix], [{:complex, "~> 0.5", [hex: :complex, repo: "hexpm", optional: false]}, {:telemetry, "~> 0.4.0 or ~> 1.0", [hex: :telemetry, repo: "hexpm", optional: false]}], "hexpm", "e3ddd6a3f2a9bac79c67b3933368c25bb5ec814a883fc68aba8fd8a236751777"},
   "statistex": {:hex, :statistex, "1.0.0", "f3dc93f3c0c6c92e5f291704cf62b99b553253d7969e9a5fa713e5481cd858a5", [:mix], [], "hexpm", "ff9d8bee7035028ab4742ff52fc80a2aa35cece833cf5319009b52f1b5a86c27"},
   "telemetry": {:hex, :telemetry, "1.2.1", "68fdfe8d8f05a8428483a97d7aab2f268aaff24b49e0f599faa091f1d4e7f61c", [:rebar3], [], "hexpm", "dad9ce9d8effc621708f99eac538ef1cbe05d6a874dd741de2e689c47feafed5"},
-  "xla": {:hex, :xla, "0.7.1", "cf188be6af8c794bf0eed1214cb7d0207b93eb4b3a3c1928fc812357b154cdfc", [:make, :mix], [{:elixir_make, "~> 0.4", [hex: :elixir_make, repo: "hexpm", optional: false]}], "hexpm", "0028968ea5431ff9ac10e5eaaed595e139c65f4ff448e26783ba33783640855c"},
+  "xla": {:hex, :xla, "0.8.0", "fef314d085dd3ee16a0816c095239938f80769150e15db16dfaa435553d7cb16", [:make, :mix], [{:elixir_make, "~> 0.4", [hex: :elixir_make, repo: "hexpm", optional: false]}], "hexpm", "739c61c8d93b97e12ba0369d10e76130224c208f1a76ad293e3581f056833e57"},
 }