diff --git a/static/app/utils/discover/fieldRenderers.tsx b/static/app/utils/discover/fieldRenderers.tsx
index 6decdcac8f9c2d..2d066516681a41 100644
--- a/static/app/utils/discover/fieldRenderers.tsx
+++ b/static/app/utils/discover/fieldRenderers.tsx
@@ -322,7 +322,7 @@ export const FIELD_FORMATTERS: FieldFormatters = {
   },
   string: {
     isSortable: true,
-    renderFunc: (field, data) => {
+    renderFunc: (field, data, baggage) => {
       // Some fields have long arrays in them, only show the tail of the data.
       const value = Array.isArray(data[field])
         ? data[field].slice(-1)
@@ -330,7 +330,11 @@ export const FIELD_FORMATTERS: FieldFormatters = {
           ? data[field]
           : emptyValue;
 
-      if (isUrl(value)) {
+      // In the future, external linking will be done through CellAction component instead of the default renderer
+      if (
+        !baggage?.organization.features.includes('discover-cell-actions-v2') &&
+        isUrl(value)
+      ) {
         return (
           <Tooltip title={value} containerDisplayMode="block" showOnlyOnOverflow>
             <Container>
@@ -496,7 +500,7 @@ const SPECIAL_FIELDS: Record<string, SpecialField> = {
   },
   'span.description': {
     sortField: 'span.description',
-    renderFunc: data => {
+    renderFunc: (data, {organization}) => {
       const value = data[SpanFields.SPAN_DESCRIPTION];
       const op: string = data[SpanFields.SPAN_OP];
       const projectId =
@@ -524,7 +528,8 @@ const SPECIAL_FIELDS: Record<string, SpecialField> = {
           maxWidth={400}
         >
           <Container>
-            {isUrl(value) ? (
+            {!organization.features.includes('discover-cell-actions-v2') &&
+            isUrl(value) ? (
               <ExternalLink href={value}>{value}</ExternalLink>
             ) : (
               nullableValue(value)
diff --git a/static/app/views/discover/table/cellAction.tsx b/static/app/views/discover/table/cellAction.tsx
index 38fc45879332fc..2136887a1e3339 100644
--- a/static/app/views/discover/table/cellAction.tsx
+++ b/static/app/views/discover/table/cellAction.tsx
@@ -9,10 +9,12 @@ import {t, tct} from 'sentry/locale';
 import {defined} from 'sentry/utils';
 import type {TableDataRow} from 'sentry/utils/discover/discoverQuery';
 import {
+  fieldAlignment,
   isEquationAlias,
   isRelativeSpanOperationBreakdownField,
 } from 'sentry/utils/discover/fields';
 import getDuration from 'sentry/utils/duration/getDuration';
+import {isUrl} from 'sentry/utils/string/isUrl';
 import type {MutableSearch} from 'sentry/utils/tokenizeSearch';
 import useOrganization from 'sentry/utils/useOrganization';
 
@@ -27,19 +29,7 @@ export enum Actions {
   DRILLDOWN = 'drilldown',
   EDIT_THRESHOLD = 'edit_threshold',
   COPY_TO_CLIPBOARD = 'copy_to_clipboard',
-}
-
-export function copyToClipBoard(data: any) {
-  function stringifyValue(value: any): string {
-    if (!value) return '';
-    if (typeof value !== 'object') {
-      return value.toString();
-    }
-    return JSON.stringify(value) ?? value.toString();
-  }
-  navigator.clipboard.writeText(stringifyValue(data)).catch(_ => {
-    addErrorMessage('Error copying to clipboard');
-  });
+  OPEN_EXTERNAL_LINK = 'open_external_link',
 }
 
 export function updateQuery(
@@ -98,7 +88,10 @@ export function updateQuery(
     // these actions do not modify the query in any way,
     // instead they have side effects
     case Actions.COPY_TO_CLIPBOARD:
-      copyToClipBoard(value);
+      copyToClipboard(value);
+      break;
+    case Actions.OPEN_EXTERNAL_LINK:
+      openExternalLink(value);
       break;
     case Actions.RELEASE:
     case Actions.DRILLDOWN:
@@ -151,6 +144,35 @@ export function excludeFromFilter(
   oldFilter.addFilterValues(negation, value);
 }
 
+/**
+ * Copies the provided value to a user's clipboard.
+ * @param value
+ */
+export function copyToClipboard(value: string | number | string[]) {
+  function stringifyValue(val: string | number | string[]): string {
+    if (!val) return '';
+    if (typeof val !== 'object') {
+      return val.toString();
+    }
+    return JSON.stringify(val) ?? val.toString();
+  }
+  navigator.clipboard.writeText(stringifyValue(value)).catch(_ => {
+    addErrorMessage('Error copying to clipboard');
+  });
+}
+
+/**
+ * If provided value is a valid url, opens the url in a new tab
+ * @param value
+ */
+export function openExternalLink(value: string | number | string[]) {
+  if (typeof value === 'string' && isUrl(value)) {
+    window.open(value, '_blank', 'noopener,noreferrer');
+  } else {
+    addErrorMessage('Could not open link');
+  }
+}
+
 type CellActionsOpts = {
   column: TableColumn<keyof TableDataRow>;
   dataRow: TableDataRow;
@@ -251,6 +273,8 @@ function makeCellActions({
 
   if (value) addMenuItem(Actions.COPY_TO_CLIPBOARD, t('Copy to clipboard'));
 
+  if (isUrl(value)) addMenuItem(Actions.OPEN_EXTERNAL_LINK, t('Open external link'));
+
   if (actions.length === 0) {
     return null;
   }
@@ -258,14 +282,38 @@ function makeCellActions({
   return actions;
 }
 
-type Props = React.PropsWithoutRef<CellActionsOpts>;
+/**
+ * Potentially temporary as design and product need more time to determine how logs table should trigger the dropdown.
+ * Currently, the agreed default for every table should be bold hover. Logs is the only table to use the ellipsis trigger.
+ */
+export enum ActionTriggerType {
+  ELLIPSIS = 'ellipsis',
+  BOLD_HOVER = 'bold_hover',
+}
+
+type Props = React.PropsWithoutRef<CellActionsOpts> & {
+  triggerType?: ActionTriggerType;
+};
 
-function CellAction(props: Props) {
+function CellAction({
+  triggerType = ActionTriggerType.BOLD_HOVER,
+  allowActions,
+  ...props
+}: Props) {
   const organization = useOrganization();
-  const {children} = props;
-  const cellActions = makeCellActions(props);
+  const {children, column} = props;
+
+  const useCellActionsV2 = organization.features.includes('discover-cell-actions-v2');
+  let filteredActions = allowActions;
+  if (!useCellActionsV2)
+    filteredActions = filteredActions?.filter(
+      action => action !== Actions.OPEN_EXTERNAL_LINK
+    );
+
+  const cellActions = makeCellActions({...props, allowActions: filteredActions});
+  const align = fieldAlignment(column.key as string, column.type);
 
-  if (organization.features.includes('organizations:discover-cell-actions-v2'))
+  if (useCellActionsV2 && triggerType === ActionTriggerType.BOLD_HOVER)
     return (
       <Container
         data-test-id={cellActions === null ? undefined : 'cell-action-container'}
@@ -276,10 +324,11 @@ function CellAction(props: Props) {
             usePortal
             size="sm"
             offset={4}
-            position="bottom-start"
+            position={align === 'left' ? 'bottom-start' : 'bottom-end'}
             preventOverflowOptions={{padding: 4}}
             flipOptions={{
               fallbackPlacements: [
+                'bottom-start',
                 'bottom-end',
                 'top',
                 'right-start',
diff --git a/static/app/views/discover/table/tableView.tsx b/static/app/views/discover/table/tableView.tsx
index 250a490ec1a200..5199a10d4239b2 100644
--- a/static/app/views/discover/table/tableView.tsx
+++ b/static/app/views/discover/table/tableView.tsx
@@ -66,7 +66,7 @@ import {makeReleasesPathname} from 'sentry/views/releases/utils/pathnames';
 
 import {QuickContextHoverWrapper} from './quickContext/quickContextWrapper';
 import {ContextType} from './quickContext/utils';
-import CellAction, {Actions, copyToClipBoard, updateQuery} from './cellAction';
+import CellAction, {Actions, updateQuery} from './cellAction';
 import ColumnEditModal, {modalCss} from './columnEditModal';
 import TableActions from './tableActions';
 import {TopResultsIndicator} from './topResultsIndicator';
@@ -609,10 +609,6 @@ function TableView(props: TableViewProps) {
 
           return;
         }
-        case Actions.COPY_TO_CLIPBOARD: {
-          copyToClipBoard(value);
-          break;
-        }
         default: {
           // Some custom perf metrics have units.
           // These custom perf metrics need to be adjusted to the correct value.
diff --git a/static/app/views/explore/components/table.tsx b/static/app/views/explore/components/table.tsx
index 40ea9676ffb6fb..320a6b56cb28c6 100644
--- a/static/app/views/explore/components/table.tsx
+++ b/static/app/views/explore/components/table.tsx
@@ -54,6 +54,7 @@ export const ALLOWED_CELL_ACTIONS: Actions[] = [
   Actions.SHOW_GREATER_THAN,
   Actions.SHOW_LESS_THAN,
   Actions.COPY_TO_CLIPBOARD,
+  Actions.OPEN_EXTERNAL_LINK,
 ];
 
 const MINIMUM_COLUMN_WIDTH = COL_WIDTH_MINIMUM;
diff --git a/static/app/views/explore/logs/tables/logsTableRow.tsx b/static/app/views/explore/logs/tables/logsTableRow.tsx
index aa77a5f42e2607..c38f8e1e955aeb 100644
--- a/static/app/views/explore/logs/tables/logsTableRow.tsx
+++ b/static/app/views/explore/logs/tables/logsTableRow.tsx
@@ -17,7 +17,9 @@ import useOrganization from 'sentry/utils/useOrganization';
 import useProjectFromId from 'sentry/utils/useProjectFromId';
 import CellAction, {
   Actions,
-  copyToClipBoard,
+  ActionTriggerType,
+  copyToClipboard,
+  openExternalLink,
 } from 'sentry/views/discover/table/cellAction';
 import type {TableColumn} from 'sentry/views/discover/table/types';
 import {AttributesTree} from 'sentry/views/explore/components/traceItemAttributes/attributesTree';
@@ -305,7 +307,10 @@ export const LogRowContent = memo(function LogRowContent({
                         });
                         break;
                       case Actions.COPY_TO_CLIPBOARD:
-                        copyToClipBoard(cellValue);
+                        copyToClipboard(cellValue);
+                        break;
+                      case Actions.OPEN_EXTERNAL_LINK:
+                        openExternalLink(cellValue);
                         break;
                       default:
                         break;
@@ -316,6 +321,7 @@ export const LogRowContent = memo(function LogRowContent({
                       ? []
                       : ALLOWED_CELL_ACTIONS
                   }
+                  triggerType={ActionTriggerType.ELLIPSIS}
                 >
                   {renderedField}
                 </CellAction>
diff --git a/static/app/views/explore/tables/fieldRenderer.tsx b/static/app/views/explore/tables/fieldRenderer.tsx
index 5ae471eb329355..521f04608a6ee1 100644
--- a/static/app/views/explore/tables/fieldRenderer.tsx
+++ b/static/app/views/explore/tables/fieldRenderer.tsx
@@ -8,6 +8,7 @@ import ProjectBadge from 'sentry/components/idBadge/projectBadge';
 import ExternalLink from 'sentry/components/links/externalLink';
 import TimeSince from 'sentry/components/timeSince';
 import {space} from 'sentry/styles/space';
+import type {Organization} from 'sentry/types/organization';
 import type {Project} from 'sentry/types/project';
 import {defined} from 'sentry/utils';
 import type {TableDataRow} from 'sentry/utils/discover/discoverQuery';
@@ -122,7 +123,7 @@ function BaseExploreFieldRenderer({
 
   const field = String(column.key);
 
-  const renderer = getExploreFieldRenderer(field, meta, projectsMap);
+  const renderer = getExploreFieldRenderer(field, meta, projectsMap, organization);
 
   let rendered = renderer(data, {
     location,
@@ -146,7 +147,7 @@ function BaseExploreFieldRenderer({
       source: TraceViewSources.TRACES,
     });
 
-    rendered = <Link to={target}>{rendered}</Link>;
+    return <Link to={target}>{rendered}</Link>;
   }
 
   if (['id', 'span_id', 'transaction.id'].includes(field)) {
@@ -162,7 +163,7 @@ function BaseExploreFieldRenderer({
       source: TraceViewSources.TRACES,
     });
 
-    rendered = <Link to={target}>{rendered}</Link>;
+    return <Link to={target}>{rendered}</Link>;
   }
 
   if (field === 'profile.id') {
@@ -171,7 +172,7 @@ function BaseExploreFieldRenderer({
       projectSlug: data.project,
       profileId: data['profile.id'],
     });
-    rendered = <Link to={target}>{rendered}</Link>;
+    return <Link to={target}>{rendered}</Link>;
   }
 
   return (
@@ -192,13 +193,14 @@ function BaseExploreFieldRenderer({
 function getExploreFieldRenderer(
   field: string,
   meta: MetaType,
-  projects: Record<string, Project>
+  projects: Record<string, Project>,
+  organization: Organization
 ): ReturnType<typeof getFieldRenderer> {
   if (field === 'id' || field === 'span_id') {
     return eventIdRenderFunc(field);
   }
   if (field === 'span.description') {
-    return spanDescriptionRenderFunc(projects);
+    return spanDescriptionRenderFunc(projects, organization);
   }
   return getFieldRenderer(field, meta, false);
 }
@@ -215,7 +217,10 @@ function eventIdRenderFunc(field: string) {
   return renderer;
 }
 
-function spanDescriptionRenderFunc(projects: Record<string, Project>) {
+function spanDescriptionRenderFunc(
+  projects: Record<string, Project>,
+  organization: Organization
+) {
   function renderer(data: EventData) {
     const project = projects[data.project];
 
@@ -239,7 +244,8 @@ function spanDescriptionRenderFunc(projects: Record<string, Project>) {
               />
             )}
             <WrappingText>
-              {isUrl(value) ? (
+              {!organization.features.includes('discover-cell-actions-v2') &&
+              isUrl(value) ? (
                 <ExternalLink href={value}>{value}</ExternalLink>
               ) : (
                 nullableValue(value)
diff --git a/static/app/views/performance/transactionSummary/transactionEvents/eventsTable.tsx b/static/app/views/performance/transactionSummary/transactionEvents/eventsTable.tsx
index 08cae0acdbd361..d2e32e9cbba506 100644
--- a/static/app/views/performance/transactionSummary/transactionEvents/eventsTable.tsx
+++ b/static/app/views/performance/transactionSummary/transactionEvents/eventsTable.tsx
@@ -220,6 +220,7 @@ function EventsTable({
         Actions.EXCLUDE,
         Actions.SHOW_GREATER_THAN,
         Actions.SHOW_LESS_THAN,
+        Actions.OPEN_EXTERNAL_LINK,
       ];
 
       if (['attachments', 'minidump'].includes(field)) {