diff --git a/Makefile.rhelver b/Makefile.rhelver
index f7a6dd95d..88554b115 100644
--- a/Makefile.rhelver
+++ b/Makefile.rhelver
@@ -12,7 +12,7 @@ RHEL_MINOR = 0
 #
 # Use this spot to avoid future merge conflicts.
 # Do not trim this comment.
-RHEL_RELEASE = 37
+RHEL_RELEASE = 38
 
 #
 # RHEL_REBASE_NUM
diff --git a/kernel.changelog b/kernel.changelog
index c399ec0a7..a68f6cea0 100644
--- a/kernel.changelog
+++ b/kernel.changelog
@@ -1,3 +1,16 @@
+* Mon Jan 06 2025 Jan Stancek <jstancek@redhat.com> [6.12.0-38.el10]
+- virtio_ring: add a func argument 'recycle_done' to virtqueue_reset() (Cindy Lu) [RHEL-56981]
+- virtio_net: ensure netdev_tx_reset_queue is called on tx ring resize (Cindy Lu) [RHEL-56981]
+- virtio_ring: add a func argument 'recycle_done' to virtqueue_resize() (Cindy Lu) [RHEL-56981]
+- virtio_net: correct netdev_tx_reset_queue() invocation point (Cindy Lu) [RHEL-56981]
+- intel_idle: add Granite Rapids Xeon D support (David Arcari) [RHEL-68122]
+- sched/dlserver: Fix dlserver time accounting (Phil Auld) [RHEL-68342]
+- sched/dlserver: Fix dlserver double enqueue (Phil Auld) [RHEL-68342]
+- sched/fair: Fix NEXT_BUDDY (Phil Auld) [RHEL-68342]
+- sched/fair: Fix sched_can_stop_tick() for fair tasks (Phil Auld) [RHEL-68342]
+- sched/eevdf: More PELT vs DELAYED_DEQUEUE (Phil Auld) [RHEL-68342]
+Resolves: RHEL-56981, RHEL-68122, RHEL-68342
+
 * Fri Dec 20 2024 Jan Stancek <jstancek@redhat.com> [6.12.0-37.el10]
 - vfio/mlx5: Fix unwind flows in mlx5vf_pci_save/resume_device_data() (Alex Williamson) [RHEL-69747]
 - vfio/mlx5: Fix an unwind issue in mlx5vf_add_migration_pages() (Alex Williamson) [RHEL-69747]
diff --git a/kernel.spec b/kernel.spec
index 2648541a5..1be12e40d 100644
--- a/kernel.spec
+++ b/kernel.spec
@@ -162,15 +162,15 @@ Summary: The Linux kernel
 %define specrpmversion 6.12.0
 %define specversion 6.12.0
 %define patchversion 6.12
-%define pkgrelease 37
+%define pkgrelease 38
 %define kversion 6
-%define tarfile_release 6.12.0-37.el10
+%define tarfile_release 6.12.0-38.el10
 # This is needed to do merge window version magic
 %define patchlevel 12
 # This allows pkg_release to have configurable %%{?dist} tag
-%define specrelease 37%{?buildid}%{?dist}
+%define specrelease 38%{?buildid}%{?dist}
 # This defines the kabi tarball version
-%define kabiversion 6.12.0-37.el10
+%define kabiversion 6.12.0-38.el10
 
 # If this variable is set to 1, a bpf selftests build failure will cause a
 # fatal kernel package build error
@@ -4297,6 +4297,18 @@ fi\
 #
 #
 %changelog
+* Mon Jan 06 2025 Jan Stancek <jstancek@redhat.com> [6.12.0-38.el10]
+- virtio_ring: add a func argument 'recycle_done' to virtqueue_reset() (Cindy Lu) [RHEL-56981]
+- virtio_net: ensure netdev_tx_reset_queue is called on tx ring resize (Cindy Lu) [RHEL-56981]
+- virtio_ring: add a func argument 'recycle_done' to virtqueue_resize() (Cindy Lu) [RHEL-56981]
+- virtio_net: correct netdev_tx_reset_queue() invocation point (Cindy Lu) [RHEL-56981]
+- intel_idle: add Granite Rapids Xeon D support (David Arcari) [RHEL-68122]
+- sched/dlserver: Fix dlserver time accounting (Phil Auld) [RHEL-68342]
+- sched/dlserver: Fix dlserver double enqueue (Phil Auld) [RHEL-68342]
+- sched/fair: Fix NEXT_BUDDY (Phil Auld) [RHEL-68342]
+- sched/fair: Fix sched_can_stop_tick() for fair tasks (Phil Auld) [RHEL-68342]
+- sched/eevdf: More PELT vs DELAYED_DEQUEUE (Phil Auld) [RHEL-68342]
+
 * Fri Dec 20 2024 Jan Stancek <jstancek@redhat.com> [6.12.0-37.el10]
 - vfio/mlx5: Fix unwind flows in mlx5vf_pci_save/resume_device_data() (Alex Williamson) [RHEL-69747]
 - vfio/mlx5: Fix an unwind issue in mlx5vf_add_migration_pages() (Alex Williamson) [RHEL-69747]
diff --git a/sources b/sources
index 8b99da262..d1f380ed0 100644
--- a/sources
+++ b/sources
@@ -1,5 +1,5 @@
 SHA512 (kernel-abi-stablelists-6.6.0.tar.bz2) = 4f917598056dee5e23814621ec96ff2e4a411c8c4ba9d56ecb01b23cb96431825bedbecfcbaac9338efbf5cb21694d85497fa0bf43e7c80d9cd10bc6dd144dbd
 SHA512 (kernel-kabi-dw-6.6.0.tar.bz2) = 19308cd976031d05e18ef7f5d093218acdb89446418bab0cd956ff12cf66369915b9e64bb66fa9f20939428a60e81884fec5be3529c6c7461738d6540d3cc5c6
-SHA512 (linux-6.12.0-37.el10.tar.xz) = 07f3541064964aa54f697c390c7a0d1ec26c587ec406e3d3e8c8eab5670189ec45d6ad407d0a2f58dcdf33b44359366cae27d57c49a9b9fd51024b31d1e0f7dc
-SHA512 (kernel-abi-stablelists-6.12.0-37.el10.tar.xz) = 9a8029a25816f83acc35eeeb0352db70a8c9fb78e5307b22c711fbb7532aac68417131b35365a25e1abd0ec8d07b01dd718aeeef20159c21933b4c58f4ef2ef3
-SHA512 (kernel-kabi-dw-6.12.0-37.el10.tar.xz) = b3525532603299a3c22dc64150f1431e20b30b742bb67abc5815465575adfe9977b7e49d03bbc0ac4ef2271288c3d04c0d05e2049b6afc98b47bf9c78185343e
+SHA512 (linux-6.12.0-38.el10.tar.xz) = 6d2170e49cdfb33b1927d13fb1335c889c7c8011bce329a858f291a6d934e425b5ba5984c4ae2518677533c7a673b061a89932d138fca918241884065d8a9f7a
+SHA512 (kernel-abi-stablelists-6.12.0-38.el10.tar.xz) = ddb298c7031b551c66ea3091843ed318930e7a960880811274c8635a3f62ba5279896ee6a5154e9d6726fd44415a864344bc1127e4683070f7b954d02216e0b2
+SHA512 (kernel-kabi-dw-6.12.0-38.el10.tar.xz) = b29662f01473b3f19e94bfdd2f7745b3ec156df461bb39400b43762bce8d826a7131ed0406f1d64c4a1fd5f0211e72470522270aa4debc2f9502aec12b317b13