Getty Images and OpenAI announced a multi-year display partnership to bring Getty Images’ licensed content into OpenAI search and discovery experiences inside ChatGPT. The news sent Getty’s stocks temporarily soaring more than 200% during premarket trading.
Getty Images says that its licensed content will appear in ChatGPT, significantly improving the “richness of visual responses” on the popular AI platform.
“High‑quality, licensed visual content makes AI‑powered search and discovery more useful and more trustworthy. This partnership with OpenAI reflects a shared recognition of that, and together we will deliver richer visual experiences to ChatGPT users,” says Craig Peters, Chief Executive Officer at Getty Images.
As Forbes reports, the news that broke overnight has excited investors. At one point in premarket trading, Getty’s stock was up over 200% from its Friday close. While the dust had settled a bit, premarket trading was still at $1.35 per share, up 123% from the close last week, shortly before the stock market opened on Monday morning.
Getty Images has had an interesting relationship with AI companies so far. The massive stock photo library sued Stability AI in 2023, alleging that the maker of Stable Diffusion had stolen over 12 million of Getty’s copyrighted photos. Getty mostly lost that legal battle in the United Kingdom late last year.
Getty Images has been a vocal proponent of legislation that seeks to restrict AI deepfake images as well, signaling that the company takes a rather tepid approach to AI technology.
Nonetheless, Getty Images has entered a multi-year agreement with one of the biggest AI companies in the market. Getty’s extremely brief announcement offers very little in the way of actual details of the agreement, including what “multi-year” means, what the agreement entails, how much money is involved, and how OpenAI will actually use Getty’s licensed content. The only thing that is clear thus far is that some portion of Getty’s licensed content library will be visible in some way across OpenAI search and ChatGPT’s discovery experiences.
It’s not clear whether OpenAI or ChatGPT will be able to alter the images in any way, what sort of information will appear alongside the images, what level of control Getty Images has over the experience, or whether it is Getty’s entire image library that is available for use.
When the New York Stock Exchange (NYSE) opened this morning at 9:30 AM EDT, Getty’s stock opened at $1.40. In less than ten minutes, it dipped down to $1.22, although that is still much higher than its previous close at $0.64 per share. It is a rapidly evolving situation as the market grapples with what OpenAI and Getty’s new agreement may mean.
Image credits: Getty Images, OpenAI
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