Shares of Getty Images Holdings Inc. jumped about 200% in premarket trading on Monday after the photography repository announced a licensing deal with OpenAI.
On Sunday, Getty said in a statement that images from its library will appear in the search and discovery features of ChatGPT, marking a key reversal for the firm. The companies did not share financial terms or disclose any details over whether Getty's images would be used to train future OpenAI models.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The stock had fallen about 55% this year to close at 61 cents on Friday.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The stock-photo company's shares have plunged over fears that OpenAI and other artificial intelligence developers will poach its business. AI can produce realistic images, and the companies behind the tools have repeatedly clashed with photographers and creators whose work helped train their technology. Initially, Getty resisted the technology. It tried developing its own AI image generator and had sued Stability AI, a developer of another popular tool.
OpenAI has cut a number of licensing deals with news publishers and media firms as the ChatGPT creator expands into areas like video creation and advertising.
In May, Getty reported first-quarter sales that missed expectations. The company is still waiting for approval to buy rival Shutterstock Inc. in a $3.7 billion deal.
ALSO READ | OpenAI's ChatGPT Become Fastest App To Reach 1 Billion Monthly Active Users
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
