diff --git a/pkgs/development/python-modules/ax-platform/default.nix b/pkgs/development/python-modules/ax-platform/default.nix
index 8808854e3550..6fea52b2f2d0 100644
--- a/pkgs/development/python-modules/ax-platform/default.nix
+++ b/pkgs/development/python-modules/ax-platform/default.nix
@@ -29,14 +29,14 @@
 
 buildPythonPackage rec {
   pname = "ax-platform";
-  version = "1.2.0";
+  version = "1.2.1";
   pyproject = true;
 
   src = fetchFromGitHub {
     owner = "facebook";
     repo = "ax";
     tag = version;
-    hash = "sha256-HZRo7jo5f3nnAha3evLTmI3caLhz7kIbP9CA6zaH4Zg=";
+    hash = "sha256-WjJhBSj5lKt1ygrJ2QdxUxEvCrfnanLY8yWs7qy/GIY=";
   };
 
   env.ALLOW_BOTORCH_LATEST = "1";