Getty shares surge after licensing deal with OpenAI

Getty Images shares jumped nearly 200% in pre-market trading Monday after announcing a licensing agreement with OpenAI.

• Getty Images announced a licensing deal with OpenAI on Sunday to integrate its photo library into ChatGPT’s search and discovery features.
• The companies did not disclose the financial details of the agreement or clarify whether the images will be used to train future AI models.
• Getty shares had fallen about 55% year-to-date before the announcement, closing at 61 cents on Friday amid investor concerns over AI competition.
• Getty had previously opposed AI adoption, developing its own image generator and filing a lawsuit against Stability AI.