diff --git a/go.mod b/go.mod
index 8a9903dfa1104..d5da0df59b4bb 100644
--- a/go.mod
+++ b/go.mod
@@ -118,7 +118,7 @@ require (
 	github.com/DmitriyVTitov/size v1.5.0
 	github.com/IBM/go-sdk-core/v5 v5.13.1
 	github.com/IBM/ibm-cos-sdk-go v1.10.0
-	github.com/axiomhq/hyperloglog v0.0.0-20240124082744-24bca3a5b39b
+	github.com/axiomhq/hyperloglog v0.0.0-20240507144631-af9851f82b27
 	github.com/buger/jsonparser v1.1.1
 	github.com/coder/quartz v0.1.0
 	github.com/d4l3k/messagediff v1.2.1
diff --git a/go.sum b/go.sum
index 502a8d2f15daa..b49a73d81aee4 100644
--- a/go.sum
+++ b/go.sum
@@ -383,8 +383,8 @@ github.com/aws/aws-sdk-go-v2/service/sts v1.16.1 h1:xsOtPAvHqhvQvBza5ohaUcfq1Lce
 github.com/aws/aws-sdk-go-v2/service/sts v1.16.1/go.mod h1:Aq2/Qggh2oemSfyHH+EO4UBbgWG6zFCXLHYI4ILTY7w=
 github.com/aws/smithy-go v1.11.1 h1:IQ+lPZVkSM3FRtyaDox41R8YS6iwPMYIreejOgPW49g=
 github.com/aws/smithy-go v1.11.1/go.mod h1:3xHYmszWVx2c0kIwQeEVf9uSm4fYZt67FBJnwub1bgM=
-github.com/axiomhq/hyperloglog v0.0.0-20240124082744-24bca3a5b39b h1:F3yMzKumBUQ6Fn0sYI1YQ16vQRucpZOfBQ9HXWl5+XI=
-github.com/axiomhq/hyperloglog v0.0.0-20240124082744-24bca3a5b39b/go.mod h1:k08r+Yj1PRAmuayFiRK6MYuR5Ve4IuZtTfxErMIh0+c=
+github.com/axiomhq/hyperloglog v0.0.0-20240507144631-af9851f82b27 h1:60m4tnanN1ctzIu4V3bfCNJ39BiOPSm1gHFlFjTkRE0=
+github.com/axiomhq/hyperloglog v0.0.0-20240507144631-af9851f82b27/go.mod h1:k08r+Yj1PRAmuayFiRK6MYuR5Ve4IuZtTfxErMIh0+c=
 github.com/baidubce/bce-sdk-go v0.9.141 h1:EV5BH5lfymIGPSmYDo9xYdsVlvWAW6nFeiA6t929zBE=
 github.com/baidubce/bce-sdk-go v0.9.141/go.mod h1:zbYJMQwE4IZuyrJiFO8tO8NbtYiKTFTbwh4eIsqjVdg=
 github.com/baiyubin/aliyun-sts-go-sdk v0.0.0-20180326062324-cfa1a18b161f/go.mod h1:AuiFmCCPBSrqvVMvuqFuk0qogytodnVFVSN5CeJB8Gc=
diff --git a/vendor/github.com/axiomhq/hyperloglog/README.md b/vendor/github.com/axiomhq/hyperloglog/README.md
index 00a5614f7eacb..cf5c05e842cab 100644
--- a/vendor/github.com/axiomhq/hyperloglog/README.md
+++ b/vendor/github.com/axiomhq/hyperloglog/README.md
@@ -44,7 +44,7 @@ Kindly check our [contributing guide](https://github.com/axiomhq/hyperloglog/blo
 
 ## License
 
-© Axiom, Inc., 2022
+© Axiom, Inc., 2024
 
 Distributed under MIT License (`The MIT License`).
 
diff --git a/vendor/github.com/axiomhq/hyperloglog/compressed.go b/vendor/github.com/axiomhq/hyperloglog/compressed.go
index 4b908be46c3da..d140b88c16cdc 100644
--- a/vendor/github.com/axiomhq/hyperloglog/compressed.go
+++ b/vendor/github.com/axiomhq/hyperloglog/compressed.go
@@ -103,9 +103,9 @@ func (v *compressedList) UnmarshalBinary(data []byte) error {
 	return nil
 }
 
-func newCompressedList() *compressedList {
+func newCompressedList(capacity int) *compressedList {
 	v := &compressedList{}
-	v.b = make(variableLengthList, 0)
+	v.b = make(variableLengthList, 0, capacity)
 	return v
 }
 
diff --git a/vendor/github.com/axiomhq/hyperloglog/hyperloglog.go b/vendor/github.com/axiomhq/hyperloglog/hyperloglog.go
index 826639158e9bb..58a13a5d62872 100644
--- a/vendor/github.com/axiomhq/hyperloglog/hyperloglog.go
+++ b/vendor/github.com/axiomhq/hyperloglog/hyperloglog.go
@@ -71,7 +71,7 @@ func newSketch(precision uint8, sparse bool) (*Sketch, error) {
 	}
 	if sparse {
 		s.tmpSet = set{}
-		s.sparseList = newCompressedList()
+		s.sparseList = newCompressedList(0)
 	} else {
 		s.regs = newRegisters(m)
 	}
@@ -253,9 +253,9 @@ func (sk *Sketch) Estimate() uint64 {
 	}
 
 	if sk.b == 0 {
-		est = (sk.alpha * m * (m - ez) / (sum + beta(ez)))
+		est = sk.alpha * m * (m - ez) / (sum + beta(ez))
 	} else {
-		est = (sk.alpha * m * m / sum)
+		est = sk.alpha * m * m / sum
 	}
 
 	return uint64(est + 0.5)
@@ -272,7 +272,7 @@ func (sk *Sketch) mergeSparse() {
 	}
 	sort.Sort(keys)
 
-	newList := newCompressedList()
+	newList := newCompressedList(4*len(sk.tmpSet) + len(sk.sparseList.b))
 	for iter, i := sk.sparseList.Iter(), 0; iter.HasNext() || i < len(keys); {
 		if !iter.HasNext() {
 			newList.Append(keys[i])
diff --git a/vendor/modules.txt b/vendor/modules.txt
index 701241662ea95..c03e1990c9c32 100644
--- a/vendor/modules.txt
+++ b/vendor/modules.txt
@@ -464,7 +464,7 @@ github.com/aws/smithy-go/rand
 github.com/aws/smithy-go/time
 github.com/aws/smithy-go/transport/http
 github.com/aws/smithy-go/transport/http/internal/io
-# github.com/axiomhq/hyperloglog v0.0.0-20240124082744-24bca3a5b39b
+# github.com/axiomhq/hyperloglog v0.0.0-20240507144631-af9851f82b27
 ## explicit; go 1.12
 github.com/axiomhq/hyperloglog
 # github.com/baidubce/bce-sdk-go v0.9.141