diff --git a/.changes/1.35.38.json b/.changes/1.35.38.json
new file mode 100644
index 0000000000..ca6fcebb5e
--- /dev/null
+++ b/.changes/1.35.38.json
@@ -0,0 +1,57 @@
+[
+  {
+    "category": "``acm-pca``",
+    "description": "[``botocore``] Documentation updates for AWS Private CA.",
+    "type": "api-change"
+  },
+  {
+    "category": "``dms``",
+    "description": "[``botocore``] Introduces DescribeDataMigrations, CreateDataMigration, ModifyDataMigration, DeleteDataMigration, StartDataMigration, StopDataMigration operations to SDK. Provides FailedDependencyFault error message.",
+    "type": "api-change"
+  },
+  {
+    "category": "``ec2``",
+    "description": "[``botocore``] This release adds support for assigning the billing of shared Amazon EC2 On-Demand Capacity Reservations.",
+    "type": "api-change"
+  },
+  {
+    "category": "``ecs``",
+    "description": "[``botocore``] This is a documentation only release that updates to documentation to let customers know that Amazon Elastic Inference is no longer available.",
+    "type": "api-change"
+  },
+  {
+    "category": "``elastic-inference``",
+    "description": "[``botocore``] Elastic Inference - Documentation update to add service shutdown notice.",
+    "type": "api-change"
+  },
+  {
+    "category": "``iotfleetwise``",
+    "description": "[``botocore``] Refine campaign related API validations",
+    "type": "api-change"
+  },
+  {
+    "category": "``neptune-graph``",
+    "description": "[``botocore``] Support for 16 m-NCU graphs available through account allowlisting",
+    "type": "api-change"
+  },
+  {
+    "category": "``outposts``",
+    "description": "[``botocore``] Adding new \"DELIVERED\" enum value for Outposts Order status",
+    "type": "api-change"
+  },
+  {
+    "category": "``route53resolver``",
+    "description": "[``botocore``] Route 53 Resolver Forwarding Rules can now include a server name indication (SNI) in the target address for rules that use the DNS-over-HTTPS (DoH) protocol. When a DoH-enabled Outbound Resolver Endpoint forwards a request to a DoH server, it will provide the SNI in the TLS handshake.",
+    "type": "api-change"
+  },
+  {
+    "category": "``socialmessaging``",
+    "description": "[``botocore``] This release for AWS End User Messaging includes a public SDK, providing a suite of APIs that enable sending WhatsApp messages to end users.",
+    "type": "api-change"
+  },
+  {
+    "category": "``timestream-influxdb``",
+    "description": "[``botocore``] This release updates our regex based validation rules in regards to valid DbInstance and DbParameterGroup name.",
+    "type": "api-change"
+  }
+]
\ No newline at end of file
diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index c4f24b0360..86065919a6 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -2,6 +2,22 @@
 CHANGELOG
 =========
 
+1.35.38
+=======
+
+* api-change:``acm-pca``: [``botocore``] Documentation updates for AWS Private CA.
+* api-change:``dms``: [``botocore``] Introduces DescribeDataMigrations, CreateDataMigration, ModifyDataMigration, DeleteDataMigration, StartDataMigration, StopDataMigration operations to SDK. Provides FailedDependencyFault error message.
+* api-change:``ec2``: [``botocore``] This release adds support for assigning the billing of shared Amazon EC2 On-Demand Capacity Reservations.
+* api-change:``ecs``: [``botocore``] This is a documentation only release that updates to documentation to let customers know that Amazon Elastic Inference is no longer available.
+* api-change:``elastic-inference``: [``botocore``] Elastic Inference - Documentation update to add service shutdown notice.
+* api-change:``iotfleetwise``: [``botocore``] Refine campaign related API validations
+* api-change:``neptune-graph``: [``botocore``] Support for 16 m-NCU graphs available through account allowlisting
+* api-change:``outposts``: [``botocore``] Adding new "DELIVERED" enum value for Outposts Order status
+* api-change:``route53resolver``: [``botocore``] Route 53 Resolver Forwarding Rules can now include a server name indication (SNI) in the target address for rules that use the DNS-over-HTTPS (DoH) protocol. When a DoH-enabled Outbound Resolver Endpoint forwards a request to a DoH server, it will provide the SNI in the TLS handshake.
+* api-change:``socialmessaging``: [``botocore``] This release for AWS End User Messaging includes a public SDK, providing a suite of APIs that enable sending WhatsApp messages to end users.
+* api-change:``timestream-influxdb``: [``botocore``] This release updates our regex based validation rules in regards to valid DbInstance and DbParameterGroup name.
+
+
 1.35.37
 =======
 
diff --git a/boto3/__init__.py b/boto3/__init__.py
index 04095602e7..6e9481a25e 100644
--- a/boto3/__init__.py
+++ b/boto3/__init__.py
@@ -17,7 +17,7 @@
 from boto3.session import Session
 
 __author__ = 'Amazon Web Services'
-__version__ = '1.35.37'
+__version__ = '1.35.38'
 
 
 # The default Boto3 session; autoloaded when needed.
diff --git a/setup.cfg b/setup.cfg
index b7a0b0bc2e..5971f050f5 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -3,7 +3,7 @@ universal = 0
 
 [metadata]
 requires_dist =
-    botocore>=1.35.37,<1.36.0
+    botocore>=1.35.38,<1.36.0
     jmespath>=0.7.1,<2.0.0
     s3transfer>=0.10.0,<0.11.0
 
diff --git a/setup.py b/setup.py
index 1624ddfb94..2ad2287dc6 100644
--- a/setup.py
+++ b/setup.py
@@ -14,7 +14,7 @@
 
 
 requires = [
-    'botocore>=1.35.37,<1.36.0',
+    'botocore>=1.35.38,<1.36.0',
     'jmespath>=0.7.1,<2.0.0',
     's3transfer>=0.10.0,<0.11.0',
 ]