diff --git a/public/app/features/alerting/unified/components/AlertLabels.test.tsx b/public/app/features/alerting/unified/components/AlertLabels.test.tsx
new file mode 100644
index 00000000000..381240ae059
--- /dev/null
+++ b/public/app/features/alerting/unified/components/AlertLabels.test.tsx
@@ -0,0 +1,25 @@
+import { screen, render, waitFor } from '@testing-library/react';
+import userEvent from '@testing-library/user-event';
+import React from 'react';
+
+import { AlertLabels } from './AlertLabels';
+
+describe('AlertLabels', () => {
+  it('should toggle show / hide common labels', async () => {
+    const labels = { foo: 'bar', bar: 'baz', baz: 'qux' };
+    const commonLabels = { foo: 'bar', baz: 'qux' };
+
+    render(<AlertLabels labels={labels} commonLabels={commonLabels} />);
+    expect(screen.getByText('+2 common labels')).toBeInTheDocument();
+
+    userEvent.click(screen.getByRole('button'));
+    await waitFor(() => {
+      expect(screen.getByText('Hide common labels')).toBeInTheDocument();
+    });
+
+    userEvent.click(screen.getByRole('button'));
+    await waitFor(() => {
+      expect(screen.getByText('+2 common labels')).toBeInTheDocument();
+    });
+  });
+});
diff --git a/public/app/features/alerting/unified/components/AlertLabels.tsx b/public/app/features/alerting/unified/components/AlertLabels.tsx
index cadcaaeec59..cd7b6cc1412 100644
--- a/public/app/features/alerting/unified/components/AlertLabels.tsx
+++ b/public/app/features/alerting/unified/components/AlertLabels.tsx
@@ -1,26 +1,60 @@
 import { css } from '@emotion/css';
 import { chain } from 'lodash';
-import React from 'react';
+import pluralize from 'pluralize';
+import React, { useState } from 'react';
 
 import { GrafanaTheme2 } from '@grafana/data';
-import { getTagColorsFromName, useStyles2 } from '@grafana/ui';
+import { Button, getTagColorsFromName, useStyles2 } from '@grafana/ui';
 
 import { Label, LabelSize } from './Label';
 
 interface Props {
   labels: Record<string, string>;
+  commonLabels?: Record<string, string>;
   size?: LabelSize;
 }
 
-export const AlertLabels = ({ labels, size }: Props) => {
+export const AlertLabels = ({ labels, commonLabels = {}, size }: Props) => {
   const styles = useStyles2((theme) => getStyles(theme, size));
-  const pairs = chain(labels).toPairs().reject(isPrivateKey).value();
+  const [showCommonLabels, setShowCommonLabels] = useState(false);
+
+  const labelsToShow = chain(labels)
+    .toPairs()
+    .reject(isPrivateKey)
+    .reject(([key]) => (showCommonLabels ? false : key in commonLabels))
+    .value();
+
+  const commonLabelsCount = Object.keys(commonLabels).length;
+  const hasCommonLabels = commonLabelsCount > 0;
 
   return (
     <div className={styles.wrapper} role="list" aria-label="Labels">
-      {pairs.map(([label, value]) => (
+      {labelsToShow.map(([label, value]) => (
         <Label key={label + value} size={size} label={label} value={value} color={getLabelColor(label)} />
       ))}
+      {!showCommonLabels && hasCommonLabels && (
+        <Button
+          variant="secondary"
+          fill="text"
+          onClick={() => setShowCommonLabels(true)}
+          tooltip="Show common labels"
+          tooltipPlacement="top"
+          size="sm"
+        >
+          +{commonLabelsCount} common {pluralize('label', commonLabelsCount)}
+        </Button>
+      )}
+      {showCommonLabels && hasCommonLabels && (
+        <Button
+          variant="secondary"
+          fill="text"
+          onClick={() => setShowCommonLabels(false)}
+          tooltipPlacement="top"
+          size="sm"
+        >
+          Hide common labels
+        </Button>
+      )}
     </div>
   );
 };
@@ -35,6 +69,7 @@ const getStyles = (theme: GrafanaTheme2, size?: LabelSize) => ({
   wrapper: css`
     display: flex;
     flex-wrap: wrap;
+    align-items: center;
 
     gap: ${size === 'md' ? theme.spacing() : theme.spacing(0.5)};
   `,
diff --git a/public/app/features/alerting/unified/components/rules/AlertInstancesTable.tsx b/public/app/features/alerting/unified/components/rules/AlertInstancesTable.tsx
index dd2bd4302dc..4096e0e1792 100644
--- a/public/app/features/alerting/unified/components/rules/AlertInstancesTable.tsx
+++ b/public/app/features/alerting/unified/components/rules/AlertInstancesTable.tsx
@@ -1,6 +1,6 @@
 import React, { useMemo } from 'react';
 
-import { dateTime } from '@grafana/data';
+import { dateTime, findCommonLabels } from '@grafana/data';
 import { Alert, PaginationProps } from 'app/types/unified-alerting';
 
 import { alertInstanceKey } from '../../utils/rules';
@@ -16,17 +16,27 @@ interface Props {
   footerRow?: JSX.Element;
 }
 
-type AlertTableColumnProps = DynamicTableColumnProps<Alert>;
-type AlertTableItemProps = DynamicTableItemProps<Alert>;
+interface AlertWithCommonLabels extends Alert {
+  commonLabels?: Record<string, string>;
+}
+
+type AlertTableColumnProps = DynamicTableColumnProps<AlertWithCommonLabels>;
+type AlertTableItemProps = DynamicTableItemProps<AlertWithCommonLabels>;
 
 export const AlertInstancesTable = ({ instances, pagination, footerRow }: Props) => {
+  const commonLabels = useMemo(() => {
+    // only compute the common labels if we have more than 1 instance, if we don't then that single instance
+    // will have the complete set of common labels and no unique ones
+    return instances.length > 1 ? findCommonLabels(instances.map((instance) => instance.labels)) : {};
+  }, [instances]);
+
   const items = useMemo(
     (): AlertTableItemProps[] =>
       instances.map((instance) => ({
-        data: instance,
+        data: { ...instance, commonLabels },
         id: alertInstanceKey(instance),
       })),
-    [instances]
+    [commonLabels, instances]
   );
 
   return (
@@ -53,7 +63,9 @@ const columns: AlertTableColumnProps[] = [
     id: 'labels',
     label: 'Labels',
     // eslint-disable-next-line react/display-name
-    renderCell: ({ data: { labels } }) => <AlertLabels labels={labels} size="sm" />,
+    renderCell: ({ data: { labels, commonLabels } }) => (
+      <AlertLabels labels={labels} commonLabels={commonLabels} size="sm" />
+    ),
   },
   {
     id: 'created',