computer doesn't boot after update to kernel 4.14

Since Tumbleweed installed kernel 4.14 the computer doesn’t boot anymore.
Selecting the 4.14 grub boot entry is still fine. Then …

Booting `openSUSE Tumbleweed’
Loading Linux 4.14.0-1-pae …
Loading initial ramdisk …

That’s it. Nothing happens after this any more.
After about 1 min the boot cycle starts from the beginning, so it’s running in circles.

Current kernel package is kernel-pae-4.14.0-1.8. System is 32-bit.

There is no difference when selecting the corresponding Recovery boot entry.
When selecting the last kernel 4.13 grub boot entry the system boots normally.

Any ideas what’s the problem?
Thanks.

Something went wrong with the new kernel installation, likely a badly constructed initrd.

Thanks for responding. What am I gonna do with that information?

There was nothing which did look unusual. Below is the contents of my /boot directory.

> ls -l /boot
total 68404
-rw-r–r-- 1 root root 512 Mar 16 2013 backup_mbr
-rw-r–r-- 1 root root 1725 Oct 2 20:09 boot.readme
-rw-r–r-- 1 root root 195182 Nov 12 18:01 config-4.13.12-1-pae
-rw-r–r-- 1 root root 196585 Nov 22 14:43 config-4.14.0-1-pae
drwxr-xr-x 2 root root 4096 Nov 10 15:52 dracut
drwxr-xr-x 2 root root 4096 Mar 28 2015 grub
drwxr-xr-x 7 root root 4096 Nov 24 19:02 grub2
lrwxrwxrwx 1 root root 19 Nov 23 19:27 initrd → initrd-4.14.0-1-pae
-rw------- 1 root root 8425640 Jul 14 20:25 initrd-3.16.7-53-desktop
-rw------- 1 root root 11408768 Nov 24 19:02 initrd-4.13.12-1-pae
-rw------- 1 root root 11488724 Nov 24 19:02 initrd-4.14.0-1-pae
-rw-r–r-- 1 root root 495616 Oct 24 19:19 message
-rw-r–r-- 1 root root 1105019 Nov 12 18:59 symtypes-4.13.12-1-pae.gz
-rw-r–r-- 1 root root 1119760 Nov 22 16:13 symtypes-4.14.0-1-pae.gz
-rw-r–r-- 1 root root 384275 Nov 12 18:58 symvers-4.13.12-1-pae.gz
-rw-r–r-- 1 root root 389711 Nov 22 16:11 symvers-4.14.0-1-pae.gz
-rw-r–r-- 1 root root 468 Nov 12 18:58 sysctl.conf-4.13.12-1-pae
-rw-r–r-- 1 root root 468 Nov 22 16:11 sysctl.conf-4.14.0-1-pae
-rw-r–r-- 1 root root 2711745 Nov 12 18:52 System.map-4.13.12-1-pae
-rw-r–r-- 1 root root 2737901 Nov 22 16:06 System.map-4.14.0-1-pae
-rw-r–r-- 1 root root 8240756 Nov 12 19:07 vmlinux-4.13.12-1-pae.gz
-rw-r–r-- 1 root root 8334078 Nov 22 16:21 vmlinux-4.14.0-1-pae.gz
lrwxrwxrwx 1 root root 20 Nov 23 19:27 vmlinuz → vmlinuz-4.14.0-1-pae
-rw-r–r-- 1 root root 6341120 Nov 12 18:53 vmlinuz-4.13.12-1-pae
-rw-r–r-- 1 root root 6412944 Nov 22 16:06 vmlinuz-4.14.0-1-pae
>

The dracut output from the last round of updates:

Creating initrd: /boot/initrd-4.14.0-1-pae
dracut: Executing: /usr/bin/dracut --logfile /var/log/YaST2/mkinitrd.log --force --force-drivers "ata_piix ata_generic xennet xenblk" /boot/initrd-4.14.0-1-pae 4.14.0-1-pae
dracut: dracut module 'systemd-bootchart' will not be installed, because command '/usr/lib/systemd/systemd-bootchart' could not be found!
dracut: *** Including module: bash ***
dracut: *** Including module: systemd ***
dracut: *** Including module: warpclock ***
dracut: *** Including module: systemd-initrd ***
dracut: *** Including module: i18n ***
dracut: *** Including module: drm ***
dracut: *** Including module: plymouth ***
dracut: *** Including module: kernel-modules ***
dracut: *** Including module: resume ***
dracut: *** Including module: rootfs-block ***
dracut: *** Including module: suse-xfs ***
dracut: *** Including module: terminfo ***
dracut: *** Including module: udev-rules ***
dracut: Skipping udev rule: 40-redhat.rules
dracut: Skipping udev rule: 50-firmware.rules
dracut: Skipping udev rule: 50-udev.rules
dracut: Skipping udev rule: 91-permissions.rules
dracut: Skipping udev rule: 80-drivers-modprobe.rules
dracut: *** Including module: dracut-systemd ***
dracut: *** Including module: haveged ***
dracut: *** Including module: usrmount ***
dracut: *** Including module: base ***
dracut: *** Including module: fs-lib ***
dracut: *** Including module: shutdown ***
dracut: *** Including module: suse ***
dracut: *** Including modules done ***
dracut: *** Installing kernel module dependencies and firmware ***
dracut: *** Installing kernel module dependencies and firmware done ***
dracut: *** Resolving executable dependencies ***
dracut: *** Resolving executable dependencies done***
dracut: *** Hardlinking files ***
dracut: *** Hardlinking files done ***
dracut: *** Stripping files ***
dracut: *** Stripping files done ***
dracut: *** Generating early-microcode cpio image ***
dracut: *** Constructing GenuineIntel.bin ****
dracut: *** Store current command line parameters ***
dracut: Stored kernel commandline:
dracut: rd.driver.pre=ata_piix
rd.driver.pre=ata_generic
rd.driver.pre=xennet
rd.driver.pre=xenblk
dracut:  resume=UUID=1911e86f-c19a-48f5-bfc2-8e2a6e978136
dracut:  root=UUID=a4c7f346-8680-4476-abcb-be3c7890bc23 rootfstype=ext4 rootflags=rw,relatime,data=ordered
dracut: *** Creating image file '/boot/initrd-4.14.0-1-pae' ***
dracut: *** Creating initramfs image file '/boot/initrd-4.14.0-1-pae' done ***

Looks all reasonable to me. Yet the ****ed thing doesn’t boot.
Any more suggestions?