diff --git a/requirements_dev.txt b/requirements_dev.txt
index 81691b99..55d983a4 100644
--- a/requirements_dev.txt
+++ b/requirements_dev.txt
@@ -32,7 +32,7 @@ pre-commit
 pydata-sphinx-theme>=0.13.3
 pytest
 qutip==4.7.2
-sax==0.8.8  # Pinned for pydantic <v2 compatibility.
+sax==0.10.1  # Pinned for pydantic <v2 compatibility.
 setuptools>=40.8.0
 sphinx>=4,<7
 sphinx-autoapi
diff --git a/setup.py b/setup.py
index c7ff11c5..d85b5092 100644
--- a/setup.py
+++ b/setup.py
@@ -25,7 +25,7 @@
     "pandas",
     "qutip==4.7.2",
     "sky130==0.7.1",
-    "sax==0.8.8",  # Pinned for pydantic <v2 compatibility.
+    "sax==0.10.1",  # Pinned for pydantic <v2 compatibility.
     "thewalrus==0.21.0",
 ]