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Getty Images Soars After Securing "Display Agreement" With OpenAI
Getty Images shares jumped 141% in New York premarket trading after the company announced a "display agreement" with OpenAI.
The timing could not have been better for Getty, whose stock had been languishing this year, down roughly 55% before the announcement.
For a company in need of a sentiment boost, the new partnership with OpenAI, which allows Getty content to be displayed in ChatGPT visual responses and gives users richer, higher-quality, properly licensed imagery, is reviving investor sentiment.
About 17% of Getty's float is short, with days to cover at around 4.6.