Ouster (Ouster (OUST)) shares were climbing in Wednesday's premarket session after the company announced an expanded strategic agreement with AIM Intelligent Machines. The deal will see Ouster supply digital lidar sensors for AI-powered autonomous heavy earthmoving equipment used in mining, construction, and defense.

The agreement builds on a multi-year partnership between the two companies. AIM is scaling its deployments, and this new deal secures a high-volume supply of Ouster's lidar sensors. AIM also plans to integrate Ouster's new Rev8 native color digital lidar, which improves 3D perception, object classification, and edge computing in complex industrial environments.

One of the more interesting parts of AIM's approach: its autonomy kit can retrofit existing heavy machinery in less than 24 hours without voiding OEM warranties. The platform doesn't rely on cellular networks, cloud infrastructure, or GPS, and it still allows for manual operator override. That flexibility could be a big selling point for industries that need to upgrade equipment without buying new machines.

Ouster stock rose more than 2% in premarket trading ahead of the opening bell. Nasdaq futures were up 0.55%, and S&P 500 futures gained 0.09%.

The technical picture remains bullish. Ouster has gained about 125% over the past year and continues to trade well above its key moving averages. At $43.75, the stock sits 7.3% above its 20-day simple moving average of $40.74 and 63.8% above its 200-day simple moving average of $26.68. The 20-day moving average is still above the 50-day, and the 50-day crossed above the 200-day back in May, forming a bullish golden cross.

That said, momentum has cooled a bit. The MACD remains below its signal line, suggesting buying pressure has eased after the recent rally. But the broader trend is still positive.

The stock is approaching its June 52-week high, which makes that area an important resistance level. A breakout above $49.50 could open the door to fresh highs. On the downside, traders may watch the $35.50 area, where previous buying interest emerged.

Ouster shares were up 2.39% at $43.75 during premarket trading on Wednesday.