Shutterstock Chief Technology Officer James Chou, center, rings the opening bell for the New York Stock Exchange on February 14, 2014 in New York.
D Deepaspier | Getty Images
shares Shutterstock Shares of the company soared 8% on Tuesday Announce Expanded six-year partnership with ChatGPT maker OpenAI.
Shutterstock, which provided the stock images, video and music, said in a statement release It will provide OpenAI with “high-quality” training data by granting it access to its library of videos, images and music. Shutterstock will continue to leverage OpenAI’s text-to-image generation capabilities and allow customers to use “composite editing capabilities” to alter any image in the Shutterstock library.
The companies will also work to bring generative artificial intelligence to mobile users through Shutterstock’s Giphy GIF database. Shutterstock agrees to acquire Giphy Yuan in May.
Shutterstock has started a strategic partnership with the following companies: Open AI in 2021. In October 2022, the company announced that it will begin offering OpenAI’s image generation capabilities to customers.
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