Affected: Homebrew: oterm

### Summary

Pydantic AI's OpenTelemetry instrumentation supports `InstrumentationSettings(include_content=False)` to exclude message content — user prompts, model completions, tool call arguments and responses, and any other message content — from exported telemetry, so that agents can be monitored without sending sensitive content to the observability backend.

The message attributes honoured the setting. Several other parts of the same spans did not, and exported content regardless of it:

- **Exceptions.** Recorded as OpenTelemetry exception events, with their message and stack trace, on tool, agent run, model request, embedding and image generation spans, and on realtime session spans. The message of the exception carrying a tool's `ModelRetry` or `ToolFailed` feedback is the text sent back to the model, which can quote tool arguments and results. When a tool ran out of retries, the error that ended the run was chained from the last retry, so its stack trace repeated that text on the run span. Exceptions raised by tool code were recorded with their full message, as were failures of a model request, embedding or image generation, whose messages carry the provider's error response body. - **The error status description.** The OpenTelemetry SDK describes a span's ERROR status with the exception's type and message, so the message reached the backend a second time even where the event itself was redacted. - **Instructions and the prompted-output template.** The `model_reques…

Affected: pydantic-ai, pydantic-ai-slim

Pydantic AI is a Python agent framework for building applications and workflows with Generative AI. From 0.3.4 until 1.107.6 and 2.44.0, OpenTelemetry instrumentation configured with InstrumentationSettings(include_content=False) can still export sensitive agent content through exception.message and exception.stacktrace events, error status descriptions, and model_request_parameters containing instructions or the prompted_output_template. The exposed data is available to readers of the configured telemetry backend and can include tool feedback, provider error bodies, runtime instructions, and structured-output templates even though message attributes are redacted. This issue does not grant new access to agent data, and deployments that do not use include_content=False are not affected by the setting bypass. This issue is fixed in versions 1.107.6 and 2.44.0.