diff --git a/Gemfile b/Gemfile
index 58b152579b..76e4340c86 100644
--- a/Gemfile
+++ b/Gemfile
@@ -110,7 +110,7 @@ group :opentelemetry do
   gem 'opentelemetry-instrumentation-active_model_serializers', '~> 0.22.0', require: false
   gem 'opentelemetry-instrumentation-concurrent_ruby', '~> 0.22.0', require: false
   gem 'opentelemetry-instrumentation-excon', '~> 0.23.0', require: false
-  gem 'opentelemetry-instrumentation-faraday', '~> 0.26.0', require: false
+  gem 'opentelemetry-instrumentation-faraday', '~> 0.27.0', require: false
   gem 'opentelemetry-instrumentation-http', '~> 0.24.0', require: false
   gem 'opentelemetry-instrumentation-http_client', '~> 0.23.0', require: false
   gem 'opentelemetry-instrumentation-net_http', '~> 0.23.0', require: false
diff --git a/Gemfile.lock b/Gemfile.lock
index 14c3bd4247..e8f8bf0513 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -544,7 +544,7 @@ GEM
     opentelemetry-instrumentation-excon (0.23.0)
       opentelemetry-api (~> 1.0)
       opentelemetry-instrumentation-base (~> 0.23.0)
-    opentelemetry-instrumentation-faraday (0.26.0)
+    opentelemetry-instrumentation-faraday (0.27.0)
       opentelemetry-api (~> 1.0)
       opentelemetry-instrumentation-base (~> 0.23.0)
     opentelemetry-instrumentation-http (0.24.0)
@@ -1026,7 +1026,7 @@ DEPENDENCIES
   opentelemetry-instrumentation-active_model_serializers (~> 0.22.0)
   opentelemetry-instrumentation-concurrent_ruby (~> 0.22.0)
   opentelemetry-instrumentation-excon (~> 0.23.0)
-  opentelemetry-instrumentation-faraday (~> 0.26.0)
+  opentelemetry-instrumentation-faraday (~> 0.27.0)
   opentelemetry-instrumentation-http (~> 0.24.0)
   opentelemetry-instrumentation-http_client (~> 0.23.0)
   opentelemetry-instrumentation-net_http (~> 0.23.0)