Ouster Inc. (Ouster (OUST)) shares are having a banner day on Wednesday, jumping more than 24% after the company announced its new Rev8 lidar sensors are now qualified for NVIDIA Corp's (NVIDIA (NVDA)) DRIVE Hyperion platform. The broader market is also up—Nasdaq gained 1.09% and the S&P 500 rose 0.61%—but Ouster's move is in a league of its own.
Ouster Stock Soars After Lidar Tech Gets NVIDIA's Seal of Approval
MarketDash
Ouster shares jump 24% after its Rev8 native color lidar is qualified for NVIDIA's DRIVE Hyperion platform, a key milestone for autonomous vehicle development.
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NVIDIA Integration Drives Momentum
Ouster said its Rev8 OS digital lidar sensors are now officially qualified for the NVIDIA DRIVE Hyperion platform, which is designed to accelerate development of Level 4 autonomous vehicles. The company's software also includes optimized plugins for the NVIDIA DriveWorks SDK, allowing high-density point clouds to be fed directly into NVIDIA's hardware. That's a big deal for automakers looking to build self-driving systems.
Breakthrough in Native Color Lidar
The Rev8 family isn't just another lidar sensor—it's the world's first native color lidar, meaning it can fuse color and depth data in a single stream. CEO Angus Pacala explained the significance: "With Rev8 compatibility on the NVIDIA DRIVE Hyperion platform, automotive customers around the world can benefit from superior range and resolution, along with the world's first native color lidar, to enhance safety and performance in the real world." In plain English: better data, better decisions, safer cars.
Financial Outlook and Capital Strategy
The surge comes after a volatile week for the lidar maker. On May 5, Ouster reported first-quarter revenue of $48.58 million, beating analyst estimates of $46.27 million. But the company also filed a prospectus supplement on May 8, allowing for the sale of up to $100 million in common stock through an at-the-market offering. That's a potential dilution risk, but for now, the NVIDIA news is drowning out those concerns.
Ouster Stock: Key Levels To Watch
From a technical perspective, Ouster is extended above its key moving averages. It's trading about 23.3% above the 20-day simple moving average (SMA) of $26.59 and roughly 29.6% above the 200-day SMA of $25.28. The longer-term picture has a wrinkle, though: the 20-day SMA is above the 50-day SMA (bullish), but the 50-day SMA remains below the 200-day SMA after the death cross in February. That's a mixed signal.
Key levels to watch: Resistance at $36, a round-number area where rallies could stall if buyers don't follow through. Support at $27.50, a recent pivot zone closer to the stock's short-term trend that could attract dip-buyers.
At the time of publication Wednesday, Ouster shares were up 24.32% at $33.69, according to market data.
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