Ben

I posted recently to connect the dots between Hyudan and Ouster (x.com/usppdd/status/…). Now it's time to do the same between Amazon and Ouster. 1. 3.2M $OUST warrants: 2.8M already vested, the rest will be vested by Q3 at the current speed. Since it's already ITM, Amazon exercising these warrants will inject $160M to $OUST and become a 5% owner. (Source: x.com/usppdd/status/…) 2. Proteus Robot: The first generation Proteus only works in loading docks and Ouster has already received close to $100M from these orders from Amazon, per the warrants agreement. The second generation Proteus will work in much larger area alongside human workers, potentially replace all the current robots like Herculus and Titan with a quantity up to 1 million robots. That's 1 million sensors for Ouster, roughly $3B ~$4B revenue. (Source: x.com/usppdd/status/…) 3. Agility Robotics: Amazon is an early investor and also a customer of Agility's Digit, which uses Ouster lidar. This robot is hot now so you all know about it. $AGLT $CCXI 4. Plus.AI: Amazon has been granted a warrant to buy up to a 20% equity stake in robotrucking company Plus if the e-commerce giant purchases up to $150 million worth of PlusDrive self-driving truck systems. Plus is a long time customer of Ouster and a Rev8 partner. 5. KION Group: This giant is the manufacturer of Linde forklifts and the 2nd largest forklift maker in the world. Their autonomous forklifts use Ouster. 6. Balyo: A long term Ouster user, privatized by Softbank in 2023. Amazon has a 7-year deal with Balyo in 2019. If Amazon purchases up to 300 million euros in Balyo products within the 7 years, Amazon will be entitled, via stock warrants, to acquire up to 29% of Balyo’s stock. (Source: supplychaindive.com/news/Amazon-Fr…) 7. Vecna Robotics: Another heavy material handling player in Amazon warehouses. Their autonomous tuggers and heavy pallet jacks are deployed all over fulfillment hubs to handle non-conveyable bulk goods, and they rely entirely on Ouster OS-series sensors to meet strict safety standards for human-robot co-working. 8. Fauna Robotics: Amazon recently acquired this startup, moving its pipeline straight into the consumer and personal robotics space with their Sprout humanoid. Sprout's primary navigation and perception engine runs natively on a ZED 2i stereo camera. Since Ouster fully owns Stereolabs (the maker of ZED), Amazon's latest hardware grab funnels directly right into Ouster's broader vision software and sensing IP ecosystem. Look at the sweep of this footprint: from the interstate (Plus) to the loading docks (Linde/KION), across open factory floors (Proteus/Vecna), down to tote sorting (Digit), and right into the home (Fauna/ZED). Every single step of the chain Amazon is funding, acquiring, or scaling runs on Ouster hardware or software—Ouster disclosed on earnings call that there was a tech giant just renewed its Ouster Gemini software annual contract for multi-million dollars, and it's highly likely Amazon—and these are just the public plays we actually know about. Amazon is systematically building a closed-loop Physical AI empire, and Ouster has quietly secured the entire sensory layer. $OUST