Shutterstock Rallied on AI-Generated Imagery Platform Adoption News

Shutterstock (SSTK) skyrocketed almost 11% at the U.S. market open on Tuesday, July 11, after reporting it has launched an offer for enterprise customers that ensures full compensation for the license and use of AI-generated imagery available on its platform. AI image acquired and licensed via Shutterstock.com.

After first announcing the news on the Shutterstock Showcase, the company is the first to make the promise to technology customers around the world. Client used the Shutterstock platform's AI-generated image for the Worldwide Virtual Developers Conference in May 2023. The company is currently extending this offer to all business customers, further expanding its reach.

Relevant press release points, that “…SSTK plans to remain committed to investing, innovating and strategic long-term partnerships to increase the value and impact of its extensive content library. With rich metadata and unmatched scale, variety, and annotation, the library stands out in the industry as an exceptional resource for AI skills training.”

Important note: Facebook parent Meta Platforms (META) recently sold Giphy to Shutterstock at a $262M loss.