Two years on since the Oura Ring 4 , Finnish health tech company Oura is back with a new smart ring —right in time to compete with the other screenless fitness tracker of the moment, the Fitbit Air . The Oura Ring 5 doubles down on the company's minimalist ethos with a smaller ring design, upgraded durability, and—unsurprisingly—a suite of AI-powered wellness features . The Ring 5 is available for preorder today and begins shipping June 4. It starts at $399 in silver and black, while premium finishes—Stealth, Brushed Silver, an updated Gold, and a new Deep Rose color—cost $499. Oura’s subscription pricing remains the same at $6 per month or $70 annually. The Charging Case is also available for preorder in select markets. The ring, charging case, and Oura membership all qualify for HSA and FSA reimbursement in the US.…