Getty Images Holdings Inc.Licensing deal with OpenAI for image use in ChatGPT, driving revenue potential.
Shares of Getty Images Holdings Inc. soared as much as 145% on Monday after it announced a licensing deal with OpenAI. Getty said images from its library will appear in the search and discovery features of ChatGPT, though financial terms and details on whether Getty's images would be used to train future OpenAI models were not disclosed. The stock was up 118% to $1.32 as of 12:44 p.m. in New York, on track for its best session since July 2022, after having fallen about 55% this year. Benchmark analyst Mark Zgutowicz said the partnership could improve licensing optics and shift the narrative from substitution risk toward monetizable distribution. Getty is still awaiting approval to buy rival Shutterstock Inc. in a $3.7 billion deal.
Getty Images Holdings Inc.Licensing deal with OpenAI for image use in ChatGPT, driving revenue potential.
ShutterstockGetty is awaiting approval to buy Shutterstock, but the deal's impact is unclear from this article.
JPMorgan Chase & CoOpenAI gains access to Getty's image library for ChatGPT features, enhancing its product.