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Shutterstock Chief Technology Officer James Chu (C) rings the opening bell at the New York Stock Exchange on February 14, 2014 in New York City.
Dr Dipaspel | Getty Images
shares Clash 8% popped up Tuesday after the company announce An expanded six-year partnership with ChatGPT maker OpenAI.
Shutterstock, which offers stock photos, videos and music, said in a file launch that it would provide OpenAI with “high-quality” training data by granting access to its video, photo, and music libraries. Shutterstock will continue to take advantage of OpenAI’s creation to convert text into an image and allow customers to use its “compositional editing capabilities” to change any image in the Shutterstock library.
The companies will also bring generative AI to mobile users via Shutterstock’s Giphy GIF database. Shutterstock has agreed to acquire Giphy from meta in May.
Shutterstock has started its strategic partnership with OpenAI in 2021. In October of 2022, the company announced that it will start providing OpenAI’s image generation capabilities to its customers.
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