diff --git a/device/arista/x86_64-arista_7280cr3mk_32p4/Arista-7280CR3-C40/gearbox_config.json b/device/arista/x86_64-arista_7280cr3mk_32p4/Arista-7280CR3-C40/gearbox_config.json
index e05ee11290..5a1fd88d49 100644
--- a/device/arista/x86_64-arista_7280cr3mk_32p4/Arista-7280CR3-C40/gearbox_config.json
+++ b/device/arista/x86_64-arista_7280cr3mk_32p4/Arista-7280CR3-C40/gearbox_config.json
@@ -5,7 +5,7 @@
       "name": "phy1",
       "address": "1",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy1_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -19,7 +19,7 @@
       "name": "phy2",
       "address": "2",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy2_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -33,7 +33,7 @@
       "name": "phy3",
       "address": "3",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy3_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -47,7 +47,7 @@
       "name": "phy4",
       "address": "4",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy4_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -61,7 +61,7 @@
       "name": "phy5",
       "address": "5",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy5_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -75,7 +75,7 @@
       "name": "phy6",
       "address": "6",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy6_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -89,7 +89,7 @@
       "name": "phy7",
       "address": "7",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy7_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -103,7 +103,7 @@
       "name": "phy8",
       "address": "8",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy8_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
diff --git a/device/arista/x86_64-arista_7800r3_48cqm2_lc/Arista-7800R3-48CQM2-C48/gearbox_config.json b/device/arista/x86_64-arista_7800r3_48cqm2_lc/Arista-7800R3-48CQM2-C48/gearbox_config.json
index d72df085bb..b082868e95 100644
--- a/device/arista/x86_64-arista_7800r3_48cqm2_lc/Arista-7800R3-48CQM2-C48/gearbox_config.json
+++ b/device/arista/x86_64-arista_7800r3_48cqm2_lc/Arista-7800R3-48CQM2-C48/gearbox_config.json
@@ -5,7 +5,7 @@
       "name": "phy1",
       "address": "1",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy1_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -19,7 +19,7 @@
       "name": "phy2",
       "address": "2",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy2_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -33,7 +33,7 @@
       "name": "phy3",
       "address": "3",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy3_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -47,7 +47,7 @@
       "name": "phy4",
       "address": "4",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy4_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -61,7 +61,7 @@
       "name": "phy5",
       "address": "5",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy5_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -75,7 +75,7 @@
       "name": "phy6",
       "address": "6",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy6_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -89,7 +89,7 @@
       "name": "phy7",
       "address": "7",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy7_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -103,7 +103,7 @@
       "name": "phy8",
       "address": "8",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy8_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -117,7 +117,7 @@
       "name": "phy9",
       "address": "9",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy9_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -131,7 +131,7 @@
       "name": "phy10",
       "address": "10",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy10_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -145,7 +145,7 @@
       "name": "phy11",
       "address": "11",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy11_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
@@ -159,7 +159,7 @@
       "name": "phy12",
       "address": "12",
       "lib_name": "",
-      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.92.1.bin",
+      "firmware_path": "/usr/etc/credo/firmware/owl.lz4.fw.1.94.0.bin",
       "config_file": "/usr/share/sonic/hwsku/phy12_config.json",
       "sai_init_config_file": "",
       "phy_access": "mdio",
diff --git a/platform/components/docker-gbsyncd-credo.mk b/platform/components/docker-gbsyncd-credo.mk
index 4f7c37980d..6f5c69b506 100644
--- a/platform/components/docker-gbsyncd-credo.mk
+++ b/platform/components/docker-gbsyncd-credo.mk
@@ -1,9 +1,9 @@
 DOCKER_GBSYNCD_PLATFORM_CODE = credo
 
-LIBSAI_CREDO = libsaicredo_0.7.2_amd64.deb
-$(LIBSAI_CREDO)_URL = "https://sonicstorage.blob.core.windows.net/packages/credosai/libsaicredo_0.7.2_amd64.deb?sv=2020-08-04&st=2021-11-23T03%3A17%3A40Z&se=2100-11-24T03%3A17%3A00Z&sr=b&sp=r&sig=q1hj3YHdkSnaKkN%2Bv0SYw01keE4ottLffuxSGre9mu0%3D"
-LIBSAI_CREDO_OWL = libsaicredo-owl_0.7.2_amd64.deb
-$(LIBSAI_CREDO_OWL)_URL = "https://sonicstorage.blob.core.windows.net/packages/credosai/libsaicredo-owl_0.7.2_amd64.deb?sv=2020-08-04&st=2021-11-23T03%3A50%3A31Z&se=2100-11-24T03%3A50%3A00Z&sr=b&sp=r&sig=mhiqfhHsBwa5AZOuNSj0U8uLsr46Tet6OGC41Mx5B6I%3D"
+LIBSAI_CREDO = libsaicredo_0.7.5_amd64.deb
+$(LIBSAI_CREDO)_URL = "https://sonicstorage.blob.core.windows.net/packages/credosai/libsaicredo_0.7.5_amd64.deb?sv=2020-10-02&st=2022-04-14T02%3A21%3A31Z&se=2100-04-15T02%3A21%3A00Z&sr=b&sp=r&sig=iDv9Fprntpw9iVBFYVjW8iygy4qcSWT8O90nAXdXR0A%3D"
+LIBSAI_CREDO_OWL = libsaicredo-owl_0.7.5_amd64.deb
+$(LIBSAI_CREDO_OWL)_URL = "https://sonicstorage.blob.core.windows.net/packages/credosai/libsaicredo-owl_0.7.5_amd64.deb?sv=2020-10-02&st=2022-04-14T02%3A23%3A22Z&se=2100-04-15T02%3A23%3A00Z&sr=b&sp=r&sig=58z6E2nPcLIGjqAoxRAo7du%2FzjIBZkFdoXfSzw96Kxc%3D"
 
 ifneq ($($(LIBSAI_CREDO)_URL),)
 include $(PLATFORM_PATH)/../template/docker-gbsyncd-base.mk