diff --git a/pkgs/development/python-modules/optimum/default.nix b/pkgs/development/python-modules/optimum/default.nix
index 07c80298754a..279db6eded5f 100644
--- a/pkgs/development/python-modules/optimum/default.nix
+++ b/pkgs/development/python-modules/optimum/default.nix
@@ -25,7 +25,7 @@
 
 buildPythonPackage rec {
   pname = "optimum";
-  version = "1.20.0";
+  version = "1.21.2";
   pyproject = true;
 
   disabled = pythonOlder "3.7";
@@ -34,7 +34,7 @@ buildPythonPackage rec {
     owner = "huggingface";
     repo = "optimum";
     rev = "refs/tags/v${version}";
-    hash = "sha256-aQNDVNWTgY2LEtug229SEZRMvKHpsQfiTPWW4Lh3hs4=";
+    hash = "sha256-OhquE+QhNOXFkKy/TvKlLn65CMchvKjcbR/S4Rl2MT4=";
   };
 
   build-system = [ setuptools ];