diff --git a/chart/k8gb/values.yaml b/chart/k8gb/values.yaml
index efcf58dc09..1358b80ad1 100644
--- a/chart/k8gb/values.yaml
+++ b/chart/k8gb/values.yaml
@@ -235,7 +235,7 @@ tracing:
     # -- OpenTelemetry collector into which the k8gb operator sends the spans. It can be further configured to send its data
     # to somewhere else using exporters (Jaeger for instance)
     repository: otel/opentelemetry-collector
-    tag: 0.119.0
+    tag: 0.120.0
     pullPolicy: Always
 
   jaegerImage: