diff --git a/charts/stable/openobserve/Chart.yaml b/charts/stable/openobserve/Chart.yaml
index 97f0c15cf6f..5ed3fa7a35f 100644
--- a/charts/stable/openobserve/Chart.yaml
+++ b/charts/stable/openobserve/Chart.yaml
@@ -11,7 +11,7 @@ annotations:
   truecharts.org/min_kubernetes_version: 1.24.0
   truecharts.org/train: stable
 apiVersion: v2
-appVersion: 0.40.4
+appVersion: 0.50.0
 dependencies:
   - name: common
     version: 28.29.27
@@ -40,5 +40,5 @@ sources:
   - https://github.com/openobserve/openobserve
   - https://github.com/trueforge-org/truecharts/tree/master/charts/stable/openobserve
 type: application
-version: 1.16.7
+version: 1.17.0
 
diff --git a/charts/stable/openobserve/values.yaml b/charts/stable/openobserve/values.yaml
index d0a12d41357..dedf24b824c 100644
--- a/charts/stable/openobserve/values.yaml
+++ b/charts/stable/openobserve/values.yaml
@@ -1,6 +1,6 @@
 image:
   repository: public.ecr.aws/zinclabs/openobserve
-  tag: v0.40.4@sha256:bd87ea9fc0aaf91a878785f7b161b41c6e1bc5876aba70052c4a9c414448b172
+  tag: v0.50.0@sha256:7782466cbefdadce807caf74b850f8bda4f73d2772c64a36e96aa70af7740330
   pullPolicy: IfNotPresent
 
 persistence: