5 Stocks Investors Are Chasing Right Now

1. Ouster Inc. (NASDAQ:OUST)

Ouster saw its share prices climb to a new four-year high on Monday, as investors positioned their portfolios amid the growing importance of digital lidar solutions to AI development.

In intra-day trading, the stock jumped to a record high of $54.49 before trimming gains to end the session just up by 28.68 percent at $54.07 apiece.

In a statement, Ouster Inc. (NASDAQ:OUST) said that it joined forces with AIM for the integration of its Rev8 native color digital lidar into the AIM AI platform to further advance the perception capabilities of its next-generation automated machinery with precise 3D structural data, color point clouds, and industrial-grade imagery to safely accelerate autonomous operations in complex, unstructured environments.

For AIM, the partnership aims to result in faster edge-computing, streamlined sensor fusion, and significantly enhanced safety and object-classification capabilities in real-time, high-dust industrial workflows.

“As heavy industry, mining, and logistics rapidly transition toward autonomous operations, highly reliable, high-resolution 3D perception is paramount. We are thrilled to deepen our relationship with AIM Intelligent Machines as they scale their AI-powered fleets for heavy equipment and explore the transformative potential of our new Rev8 family,” Ouster Inc. (NASDAQ:OUST) Chief Revenue Officer Cyrille Jacquemet said.

“By embedding our native color digital lidar into their intelligent platforms, AIM can redefine what automated machines can see, interpret, and achieve safely at scale,” he noted.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.