diff --git a/data/data/aws/bootstrap/main.tf b/data/data/aws/bootstrap/main.tf
index db41d363eb9..28af78f53ae 100644
--- a/data/data/aws/bootstrap/main.tf
+++ b/data/data/aws/bootstrap/main.tf
@@ -8,7 +8,7 @@ locals {
   description = "Created By OpenShift Installer"
 
   public_endpoints = var.aws_publish_strategy == "External" ? true : false
-  volume_type      = "gp2"
+  volume_type      = "gp3"
   volume_size      = 30
   volume_iops      = local.volume_type == "io1" ? 100 : 0
 }
diff --git a/pkg/asset/machines/worker.go b/pkg/asset/machines/worker.go
index 97148e16595..2a49de54771 100644
--- a/pkg/asset/machines/worker.go
+++ b/pkg/asset/machines/worker.go
@@ -80,7 +80,7 @@ var (
 func defaultAWSMachinePoolPlatform() awstypes.MachinePool {
 	return awstypes.MachinePool{
 		EC2RootVolume: awstypes.EC2RootVolume{
-			Type: "gp2",
+			Type: "gp3",
 			Size: 120,
 		},
 	}
diff --git a/pkg/types/aws/defaults/platform.go b/pkg/types/aws/defaults/platform.go
index 8cb28ad5395..c2c2ead6d92 100644
--- a/pkg/types/aws/defaults/platform.go
+++ b/pkg/types/aws/defaults/platform.go
@@ -52,6 +52,6 @@ func InstanceClasses(region string, arch types.Architecture) []string {
 	case types.ArchitectureARM64:
 		return []string{"m6g"}
 	default:
-		return []string{"m5"}
+		return []string{"m6i", "m5"}
 	}
 }
diff --git a/vendor/github.com/aws/aws-sdk-go/service/ec2/api.go b/vendor/github.com/aws/aws-sdk-go/service/ec2/api.go
index 08409e8c87e..d0fea48224a 100644
--- a/vendor/github.com/aws/aws-sdk-go/service/ec2/api.go
+++ b/vendor/github.com/aws/aws-sdk-go/service/ec2/api.go
@@ -113092,6 +113092,9 @@ const (
 	// VolumeTypeGp2 is a VolumeType enum value
 	VolumeTypeGp2 = "gp2"
 
+	// VolumeTypeGp3 is a VolumeType enum value
+	VolumeTypeGp3 = "gp3"
+
 	// VolumeTypeSc1 is a VolumeType enum value
 	VolumeTypeSc1 = "sc1"
 
diff --git a/vendor/github.com/terraform-providers/terraform-provider-aws/aws/resource_aws_instance.go b/vendor/github.com/terraform-providers/terraform-provider-aws/aws/resource_aws_instance.go
index 56d54889ae3..1c9dd7a4907 100644
--- a/vendor/github.com/terraform-providers/terraform-provider-aws/aws/resource_aws_instance.go
+++ b/vendor/github.com/terraform-providers/terraform-provider-aws/aws/resource_aws_instance.go
@@ -396,6 +396,7 @@ func resourceAwsInstance() *schema.Resource {
 								ec2.VolumeTypeStandard,
 								ec2.VolumeTypeIo1,
 								ec2.VolumeTypeGp2,
+								ec2.VolumeTypeGp3,
 								ec2.VolumeTypeSc1,
 								ec2.VolumeTypeSt1,
 							}, false),
@@ -507,6 +508,7 @@ func resourceAwsInstance() *schema.Resource {
 								ec2.VolumeTypeStandard,
 								ec2.VolumeTypeIo1,
 								ec2.VolumeTypeGp2,
+								ec2.VolumeTypeGp3,
 								ec2.VolumeTypeSc1,
 								ec2.VolumeTypeSt1,
 							}, false),
diff --git a/vendor/github.com/terraform-providers/terraform-provider-aws/aws/validators.go b/vendor/github.com/terraform-providers/terraform-provider-aws/aws/validators.go
index 5b1b685d960..e915b4e7fd5 100644
--- a/vendor/github.com/terraform-providers/terraform-provider-aws/aws/validators.go
+++ b/vendor/github.com/terraform-providers/terraform-provider-aws/aws/validators.go
@@ -1038,6 +1038,7 @@ func validateAwsEcsPlacementStrategy(stratType, stratField string) error {
 func validateAwsEmrEbsVolumeType() schema.SchemaValidateFunc {
 	return validation.StringInSlice([]string{
 		"gp2",
+		"gp3",
 		"io1",
 		"standard",
 		"st1",