For years, Getty Images Holdings (GETY) looked like a company with its back against the wall. As generative AI exploded onto the scene, many critics saw the writing on the wall, arguing that machines capable of creating images on demand would turn stock photo libraries into yesterday’s news. Wall Street largely bought into that story, and Getty stock spent years fighting an uphill battle.
But as the old saying goes, if you cannot beat them, join them! And this week, in a move few saw coming, Getty Images struck a multi-year display agreement with OpenAI, putting its vast vault of licensed content directly into ChatGPT’s search and discovery experiences. The same AI wave that once threatened to pull the rug out from under Getty suddenly became its ace in the hole. Investors wasted no time connecting the dots, sending GETY stock soaring and nearly doubling the stock.
