diff --git a/mypy-requirements.txt b/mypy-requirements.txt
index c1b6ef238393..578ce0f4e478 100644
--- a/mypy-requirements.txt
+++ b/mypy-requirements.txt
@@ -6,4 +6,4 @@ mypy_extensions>=1.0.0
 pathspec>=1.0.0
 tomli>=1.1.0; python_version<'3.11'
 librt>=0.16.0; platform_python_implementation != 'PyPy'
-ast-serialize>=0.12.0,<1.0.0
+ast-serialize>=0.12.1,<1.0.0
diff --git a/pyproject.toml b/pyproject.toml
index 562b067aa0a8..35f98aa1596d 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -15,7 +15,7 @@ requires = [
     "types-psutil",
     "types-setuptools",
     # required to work around a mypyc import bug
-    "ast-serialize>=0.12.0,<1.0.0",
+    "ast-serialize>=0.12.1,<1.0.0",
 ]
 build-backend = "setuptools.build_meta"
 
@@ -59,7 +59,7 @@ dependencies = [
   "pathspec>=1.0.0",
   "tomli>=1.1.0; python_version<'3.11'",
   "librt>=0.16.0; platform_python_implementation != 'PyPy'",
-  "ast-serialize>=0.12.0,<1.0.0",
+  "ast-serialize>=0.12.1,<1.0.0",
 ]
 dynamic = ["version"]
 
diff --git a/test-data/unit/native-parser.test b/test-data/unit/native-parser.test
index 83dbb3e8f88b..566e791b6d5b 100644
--- a/test-data/unit/native-parser.test
+++ b/test-data/unit/native-parser.test
@@ -3116,3 +3116,13 @@ MypyFile:1(
             Args(
               NameExpr(x)
               StrExpr())))))))
+
+[case testNoneInStringType]
+x: "None"
+[out]
+MypyFile:1(
+  AssignmentStmt:1(
+    NameExpr(x)
+    TempNode:1(
+      Any)
+    None?))
diff --git a/test-requirements.txt b/test-requirements.txt
index d45186a9821a..e6f50fec29ad 100644
--- a/test-requirements.txt
+++ b/test-requirements.txt
@@ -4,7 +4,7 @@
 #
 #    pip-compile --allow-unsafe --output-file=test-requirements.txt --strip-extras test-requirements.in
 #
-ast-serialize==0.12.0
+ast-serialize==0.12.1
     # via -r mypy-requirements.txt
 attrs==26.1.0
     # via -r test-requirements.in