diff --git a/kernel.spec b/kernel.spec
index c06c5e6f4..82ea19884 100644
--- a/kernel.spec
+++ b/kernel.spec
@@ -38,10 +38,10 @@
 # define buildid .local
 
 %define specversion 4.18.0
-%define pkgrelease 553.37.1.el8_10
+%define pkgrelease 553.38.1.el8_10
 
 # allow pkg_release to have configurable %%{?dist} tag
-%define specrelease 553.37.1%{?dist}
+%define specrelease 553.38.1%{?dist}
 
 %define pkg_release %{specrelease}%{?buildid}
 
@@ -2696,6 +2696,17 @@ fi
 #
 #
 %changelog
+* Thu Jan 23 2025 Denys Vlasenko <dvlasenk@redhat.com> [4.18.0-553.38.1.el8_10]
+- net: usb: lan78xx: add Allied Telesis AT29M2-AF (Jose Ignacio Tornos Martinez) [RHEL-70891]
+- s390/pci: Allow allocation of more than 1 MSI interrupt (Mete Durlu) [RHEL-74385]
+- s390/pci: Refactor arch_setup_msi_irqs() (Mete Durlu) [RHEL-74385]
+- s390/pci: Fix leak of struct zpci_dev when zpci_add_device() fails (Mete Durlu) [RHEL-71451]
+- s390/pci: Ignore RID for isolated VFs (Mete Durlu) [RHEL-71451]
+- s390/pci: Use topology ID for multi-function devices (Mete Durlu) [RHEL-71451]
+- s390/pci: Sort PCI functions prior to creating virtual busses (Mete Durlu) [RHEL-71451]
+- s390/iucv: MSG_PEEK causes memory leak in iucv_sock_destruct() (Mete Durlu) [RHEL-74387]
+- s390/pci: Handle PCI error codes other than 0x3a (Mete Durlu) [RHEL-74383]
+
 * Fri Jan 17 2025 Denys Vlasenko <dvlasenk@redhat.com> [4.18.0-553.37.1.el8_10]
 - arm64/sve: Discard stale CPU state when handling SVE traps (Mark Salter) [RHEL-71535] {CVE-2024-50275}
 - scsi: core: Handle devices which return an unusually large VPD page count (Ewan D. Milne) [RHEL-34275]
diff --git a/sources b/sources
index 509420978..d6363cfe8 100644
--- a/sources
+++ b/sources
@@ -1,3 +1,3 @@
-SHA512 (linux-4.18.0-553.37.1.el8_10.tar.xz) = bbfed44fe0d509b1756046eb09de84b5d66c5ea3b276c4c3f552ff9652cadd3632ec56bc2a88119cf664b3133136c241eb136abcb9ad0a63e3d393a2a32820a2
-SHA512 (kernel-abi-stablelists-4.18.0-553.tar.bz2) = ec30a0906362ab9bd4591b40983400d939cbab3e6e5b3a43d403a9b98308190715001095cb71ae69b397b56da8390e7c3ccf298c92d09c1d72575de930f89a5f
+SHA512 (linux-4.18.0-553.38.1.el8_10.tar.xz) = 235bdb00e12a1bf7257b3445fab589f00c315a6f1db8e4fbf0ddd26f264c9217b5811e54987a35249d14cdc4c4b6a5ded83867594188fb64378e4e5017d1ed69
+SHA512 (kernel-abi-stablelists-4.18.0-553.tar.bz2) = 29b9b28de664a36ccae98d39f7c6db3b6d42d0931e3df3aabc1a43a86ca9a86f0323f30b9ce22db35a88a2cb4869cacee9259c46fcab701ecf5fa724757c83ce
 SHA512 (kernel-kabi-dw-4.18.0-553.tar.bz2) = 8a671ed3c9b7f4b25fd4e594b62bc4a26474cb705d3ed22ca376618b3c7962fc72ace1ffd02c9c3a192d9d2c449d38228809542d7f16ebad16f8127020eb2faf