Getty Images (NYSE:GETY) shares opened about 118% higher on Monday after the company announced a multi-year agreement with OpenAI (Unlisted:OPAI) to bring Getty's licensed visual content into search and discovery experiences within ChatGPT.
Under the agreement, Getty Images' content libraries will be displayed within ChatGPT to enhance visual responses.
“High-quality, licensed visual content makes AI-powered search and discovery more useful and more trustworthy,” Getty Images CEO Craig Peters said in a statement.
“This partnership with OpenAI reflects a shared recognition of that, and together we will deliver richer visual experiences to ChatGPT users.”
The financial terms of the deal were not disclosed, nor was it clear if Getty Images' content could be used to train future OpenAI models.