diff --git a/agent/agent-tooling/build.gradle.kts b/agent/agent-tooling/build.gradle.kts
index 466bb73224..99b4f7e2c7 100644
--- a/agent/agent-tooling/build.gradle.kts
+++ b/agent/agent-tooling/build.gradle.kts
@@ -10,7 +10,7 @@ dependencies {
   compileOnly("com.google.auto.value:auto-value-annotations")
   annotationProcessor("com.google.auto.value:auto-value")
 
-  implementation("io.opentelemetry.contrib:opentelemetry-jfr-connection:1.37.0-alpha")
+  implementation("io.opentelemetry.contrib:opentelemetry-jfr-connection:1.38.0-alpha")
   implementation("com.azure:azure-storage-blob")
 
   implementation(project(":agent:agent-profiler:agent-alerting-api"))
diff --git a/agent/agent-tooling/gradle.lockfile b/agent/agent-tooling/gradle.lockfile
index 38f1510e84..ac7b080ec0 100644
--- a/agent/agent-tooling/gradle.lockfile
+++ b/agent/agent-tooling/gradle.lockfile
@@ -54,7 +54,7 @@ io.netty:netty-transport-native-epoll:4.1.112.Final=runtimeClasspath
 io.netty:netty-transport-native-kqueue:4.1.112.Final=runtimeClasspath
 io.netty:netty-transport-native-unix-common:4.1.112.Final=runtimeClasspath
 io.netty:netty-transport:4.1.112.Final=runtimeClasspath
-io.opentelemetry.contrib:opentelemetry-jfr-connection:1.37.0-alpha=runtimeClasspath
+io.opentelemetry.contrib:opentelemetry-jfr-connection:1.38.0-alpha=runtimeClasspath
 io.opentelemetry.instrumentation:opentelemetry-instrumentation-bom-alpha:2.7.0-alpha=runtimeClasspath
 io.opentelemetry.instrumentation:opentelemetry-instrumentation-bom:2.7.0=runtimeClasspath
 io.opentelemetry.semconv:opentelemetry-semconv-incubating:1.25.0-alpha=runtimeClasspath
diff --git a/dependencyManagement/build.gradle.kts b/dependencyManagement/build.gradle.kts
index df6f918ff6..dfd6f1343d 100644
--- a/dependencyManagement/build.gradle.kts
+++ b/dependencyManagement/build.gradle.kts
@@ -73,7 +73,7 @@ val DEPENDENCIES = listOf(
   "org.assertj:assertj-core:3.26.3",
   "org.awaitility:awaitility:4.2.2",
   "io.github.hakky54:logcaptor:2.9.3",
-  "io.opentelemetry.contrib:opentelemetry-jfr-connection:1.37.0-alpha",
+  "io.opentelemetry.contrib:opentelemetry-jfr-connection:1.38.0-alpha",
   "com.google.code.findbugs:jsr305:3.0.2",
   "com.github.spotbugs:spotbugs-annotations:4.8.6"
 )
diff --git a/licenses/more-licenses.md b/licenses/more-licenses.md
index a464baea3c..c3d624ff57 100644
--- a/licenses/more-licenses.md
+++ b/licenses/more-licenses.md
@@ -1,7 +1,7 @@
 
 # agent
 ## Dependency License Report
-_2024-08-19 11:56:31 PDT_
+_2024-08-19 20:45:00 UTC_
 ## Apache License, Version 2.0
 
 **1** **Group:** `com.fasterxml.jackson.core` **Name:** `jackson-annotations` **Version:** `2.17.2` 
@@ -217,7 +217,7 @@ _2024-08-19 11:56:31 PDT_
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [http://www.apache.org/licenses/LICENSE-2.0](http://www.apache.org/licenses/LICENSE-2.0)
 
-**43** **Group:** `io.opentelemetry.contrib` **Name:** `opentelemetry-jfr-connection` **Version:** `1.37.0-alpha` 
+**43** **Group:** `io.opentelemetry.contrib` **Name:** `opentelemetry-jfr-connection` **Version:** `1.38.0-alpha` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java-contrib](https://github.com/open-telemetry/opentelemetry-java-contrib)
 > - **POM License**: Apache License, Version 2.0 - [http://www.apache.org/licenses/LICENSE-2.0](http://www.apache.org/licenses/LICENSE-2.0)