diff --git a/assemblyai/__version__.py b/assemblyai/__version__.py
index 01b570a..47a53c1 100644
--- a/assemblyai/__version__.py
+++ b/assemblyai/__version__.py
@@ -1 +1 @@
-__version__ = "0.40.1"
+__version__ = "0.40.2"
diff --git a/assemblyai/types.py b/assemblyai/types.py
index ce12ba6..ca1aa51 100644
--- a/assemblyai/types.py
+++ b/assemblyai/types.py
@@ -485,6 +485,9 @@ class SpeechModel(str, Enum):
     slam_1 = "slam-1"
     "A Speech Language Model optimized explicitly for speech-to-text tasks"
 
+    universal = "universal"
+    "The model optimized for accuracy, low latency, ease of use, and multi-language support"
+
 
 class RawTranscriptionConfig(BaseModel):
     language_code: Optional[Union[str, LanguageCode]] = None