diff --git a/google-cloud-bom/pom.xml b/google-cloud-bom/pom.xml
index 8d6d9c62361d..43aec7516811 100644
--- a/google-cloud-bom/pom.xml
+++ b/google-cloud-bom/pom.xml
@@ -168,7 +168,7 @@
       <dependency>
         <groupId>com.google.api</groupId>
         <artifactId>gax-bom</artifactId>
-        <version>1.37.0</version>
+        <version>1.38.0</version>
         <type>pom</type>
         <scope>import</scope>
       </dependency>
diff --git a/google-cloud-clients/pom.xml b/google-cloud-clients/pom.xml
index 65bf89456454..95e2e2cc1b98 100644
--- a/google-cloud-clients/pom.xml
+++ b/google-cloud-clients/pom.xml
@@ -155,7 +155,7 @@
     <bom.version>0.79.1-alpha-SNAPSHOT</bom.version><!-- {x-version-update:google-cloud-bom:current} -->
     <api-client.version>1.27.0</api-client.version>
     <!-- make sure to keep gax version in sync with google-cloud-bom -->
-    <gax.version>1.37.0</gax.version>
+    <gax.version>1.38.0</gax.version>
     <api.common.java.version>1.7.0</api.common.java.version>
     <google.auth.version>0.12.0</google.auth.version>
     <grpc.version>1.17.1</grpc.version>