Shares of Getty Images ended last week at about 61 cents, barely above the all-time low of 58 cents it set on June 18. They have since more than doubled, spiking as much as 115%. <\/p>\n
The catalyst comes from Getty signing a multi-year display agreement that will surface its licensed image library in OpenAI\u2019s search and discovery experiences within ChatGPT. <\/p>\n
The force that nearly buried Getty is now the one saving it.<\/p>\n
\u201cHigh-quality, licensed visual content makes AI-powered search and discovery more useful and more trustworthy,\u201d said Getty Images CEO Craig Peters. <\/p>\n
\u201cThis partnership with OpenAI reflects a shared recognition of that, and together we will deliver richer visual experiences to ChatGPT users.\u201d<\/p>\n
The Enemy That Almost Killed It Is Now Its Lifeline<\/p>\n
Creating AI images from a text prompt has been the technology that gutted Getty\u2019s investment case. <\/p>\n
If a model can produce a usable picture for free, the logic went, who pays to license one?<\/p>\n
Getty fought it. <\/p>\n
The company banned AI-generated art from its platform in September 2022, then sued Stability AI for copyright infringement, a case dismissed late last year.<\/p>\n
GETY\u2019s Journey To A Penny Stock With Delisting Clock<\/p>\n
Getty returned to public markets through a merger with the blank-check vehicle CC Neuberger Principal Holdings II, beginning trading on July 25, 2022, at roughly $9.35 a share. The transaction valued the company at nearly $5 billion.<\/p>\n
What the market believed then was that a thin post-listing float and a marquee content brand justified a stampede. <\/p>\n
The stock ran to an intraday high of $37.88 on August 2, 2022. Its market value briefly topped $10 billion.<\/p>\n
What proved wrong came within months. Generative image tools went mainstream, Getty\u2019s revenue stalled, and the stock surrendered more than 98% of its value over the following three years.<\/p>\n
In the first quarter, Getty reported revenue of $226.6 million, missing the Wall Street estimate of $238.8 million. <\/p>\n
That figure sits below what the company generated in the same quarter four years earlier.<\/p>\n
Monday\u2019s move lands on a company under pressure from its own exchange. <\/p>\n
Getty Faces Dual Test: NYSE Compliance And AI-Fueled Turnaround<\/p>\n
Getty disclosed on March 17 that it had received written notice from the New York Stock Exchange regarding trading below $1 for 30 consecutive sessions. <\/p>\n
It was given a six-month window to cure the shortfall.<\/p>\n
A single session above $1 does not close that gap. Getty still has to satisfy both the closing-price and 30-day-average thresholds inside the cure period.<\/p>\n
There is a second overhang. Getty\u2019s pending $3.7 billion acquisition of rival Shutterstock remains under regulatory review, with conditional clearance granted in the United Kingdom.<\/p>\n
One deal does not reverse three years of erosion. <\/p>\n
The question Wall Street cannot yet answer is whether OpenAI just bought Getty a turnaround or only a reprieve.<\/p>\n
Price Action<\/p>\n
Getty\u2019s stock price hovered at $1.26 per share, up more than 107% at last check on Monday. <\/p>\n
Image: Shutterstock<\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Getty Images ended last week at about 61 cents, barely above the all-time low of 58…\n","protected":false},"author":2,"featured_media":82607,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[8374,18812,5894,5892,157,5891,44818],"class_list":["post-82606","post","type-post","status-publish","format-standard","has-post-thumbnail","category-openai","tag-category-equities","tag-category-small-cap","tag-category-top-stories","tag-cms-wordpress","tag-openai","tag-pageisbzpro-bz","tag-symbol-gety"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/82606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=82606"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/82606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/82607"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=82606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=82606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=82606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}