diff --git a/test/e2e/data/e2e_conf.yaml b/test/e2e/data/e2e_conf.yaml
index 18e7ef529c..d4797de734 100644
--- a/test/e2e/data/e2e_conf.yaml
+++ b/test/e2e/data/e2e_conf.yaml
@@ -153,9 +153,9 @@ providers:
 variables:
   # used to ensure we deploy to the correct management cluster
   KUBE_CONTEXT: "kind-capo-e2e"
-  KUBERNETES_VERSION: "v1.30.1"
-  KUBERNETES_VERSION_UPGRADE_FROM: "v1.29.5"
-  KUBERNETES_VERSION_UPGRADE_TO: "v1.30.1"
+  KUBERNETES_VERSION: "v1.31.2"
+  KUBERNETES_VERSION_UPGRADE_FROM: "v1.30.1"
+  KUBERNETES_VERSION_UPGRADE_TO: "v1.31.2"
   # NOTE: To see default images run kubeadm config images list (optionally with --kubernetes-version=vX.Y.Z)
   ETCD_VERSION_UPGRADE_TO: "3.5.12-0"
   COREDNS_VERSION_UPGRADE_TO: "v1.11.1"
@@ -175,8 +175,8 @@ variables:
   OPENSTACK_DNS_NAMESERVERS: "8.8.8.8"
   OPENSTACK_FAILURE_DOMAIN: "testaz1"
   OPENSTACK_FAILURE_DOMAIN_ALT: "testaz2"
-  OPENSTACK_IMAGE_NAME: "ubuntu-2204-kube-v1.30.1"
-  OPENSTACK_IMAGE_NAME_UPGRADE_FROM: "ubuntu-2204-kube-v1.29.5"
+  OPENSTACK_IMAGE_NAME: "ubuntu-2404-kube-v1.31.2"
+  OPENSTACK_IMAGE_NAME_UPGRADE_FROM: "ubuntu-2204-kube-v1.30.1"
   OPENSTACK_NODE_MACHINE_FLAVOR: "m1.small"
   OPENSTACK_SSH_KEY_NAME: "cluster-api-provider-openstack-sigs-k8s-io"
   # The default external network created by devstack
@@ -189,7 +189,7 @@ variables:
   SSH_USER_MACHINE: "ubuntu"
   EXP_KUBEADM_BOOTSTRAP_FORMAT_IGNITION: "true"
   # The Flatcar image produced by the image-builder
-  OPENSTACK_FLATCAR_IMAGE_NAME: "flatcar-stable-4081.2.0-kube-v1.30.1"
+  OPENSTACK_FLATCAR_IMAGE_NAME: "flatcar-stable-4081.2.0-kube-v1.31.2"
   # A plain Flatcar from the Flatcar releases server
   FLATCAR_IMAGE_NAME: "flatcar_production_openstack_image"
 
diff --git a/test/e2e/shared/images.go b/test/e2e/shared/images.go
index e479e6bdfa..cfa2e4da4d 100644
--- a/test/e2e/shared/images.go
+++ b/test/e2e/shared/images.go
@@ -79,7 +79,7 @@ func CoreImages(e2eCtx *E2EContext) []DownloadImage {
 		},
 		{
 			Name:         "capo-default",
-			ArtifactPath: "ubuntu/2024-05-28/" + e2eCtx.E2EConfig.GetVariable("OPENSTACK_IMAGE_NAME") + ".img",
+			ArtifactPath: "ubuntu/2024-11-21/" + e2eCtx.E2EConfig.GetVariable("OPENSTACK_IMAGE_NAME") + ".img",
 		},
 	}
 }