diff --git a/CHANGES.rst b/CHANGES.rst
index 60090eeee18..68d025cf90c 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,10 @@
+Release 7.3.4 (in development)
+==============================
+
+Bugs fixed
+----------
+
+
 Release 7.3.3 (released Apr 17, 2024)
 =====================================
 
diff --git a/sphinx/__init__.py b/sphinx/__init__.py
index 6dcd841fe59..4361f02c03f 100644
--- a/sphinx/__init__.py
+++ b/sphinx/__init__.py
@@ -1,6 +1,6 @@
 """The Sphinx documentation toolchain."""
 
-__version__ = '7.3.3'
+__version__ = '7.3.4'
 __display_version__ = __version__  # used for command line version
 
 # Keep this file executable as-is in Python 3!
@@ -28,11 +28,11 @@
 #:
 #: .. versionadded:: 1.2
 #:    Before version 1.2, check the string ``sphinx.__version__``.
-version_info = (7, 3, 3, 'final', 0)
+version_info = (7, 3, 4, 'beta', 0)
 
 package_dir = path.abspath(path.dirname(__file__))
 
-_in_development = False
+_in_development = True
 if _in_development:
     # Only import subprocess if needed
     import subprocess