diff --git a/third_party/kourier-latest/kourier.yaml b/third_party/kourier-latest/kourier.yaml
index 5e0679f1d96f..5389ce8e86f5 100644
--- a/third_party/kourier-latest/kourier.yaml
+++ b/third_party/kourier-latest/kourier.yaml
@@ -20,7 +20,7 @@ metadata:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/name: knative-serving
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
 
 ---
 # Copyright 2020 The Knative Authors
@@ -45,7 +45,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 data:
   envoy-bootstrap.yaml: |
@@ -174,7 +174,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 data:
   _example: |
@@ -254,7 +254,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 ---
 apiVersion: rbac.authorization.k8s.io/v1
@@ -264,7 +264,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 rules:
   - apiGroups: [""]
@@ -293,7 +293,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 roleRef:
   apiGroup: rbac.authorization.k8s.io
@@ -327,7 +327,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   strategy:
@@ -349,7 +349,7 @@ spec:
         app: net-kourier-controller
     spec:
       containers:
-        - image: gcr.io/knative-nightly/knative.dev/net-kourier/cmd/kourier@sha256:5467be8e7ac661213480e5101e5c981d76a511d3886a4533d2dfffa18835c028
+        - image: gcr.io/knative-nightly/knative.dev/net-kourier/cmd/kourier@sha256:546a28c36808f03d3e3f99f72a7c294678eeb74b2085bab0e71f0508e671cf9b
           name: controller
           env:
             - name: CERTS_SECRET_NAMESPACE
@@ -417,7 +417,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   ports:
@@ -456,7 +456,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   strategy:
@@ -491,7 +491,7 @@ spec:
           env:
             - name: DRAIN_TIME_SECONDS
               value: "15"
-          image: docker.io/envoyproxy/envoy:v1.26-latest
+          image: docker.io/envoyproxy/envoy:v1.31-latest
           name: kourier-gateway
           ports:
             - name: http2-external
@@ -575,7 +575,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   ports:
@@ -599,7 +599,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   ports:
@@ -623,7 +623,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   minReplicas: 1
@@ -649,7 +649,7 @@ metadata:
   labels:
     networking.knative.dev/ingress-provider: kourier
     app.kubernetes.io/component: net-kourier
-    app.kubernetes.io/version: "20240916-b558ed41"
+    app.kubernetes.io/version: "20240918-705fb63d"
     app.kubernetes.io/name: knative-serving
 spec:
   minAvailable: 80%