WASHINGTON - Clarifai, an AI development company, and visual content leader Getty Images (GETY) have announced a strategic partnership to provide Clarifai's enterprise customers with access to AI-generated images. Through this collaboration, users of the Clarifai platform can now generate legally protected and commercially safe visuals using Getty Images' Generative AI technology. Getty Images, with a market capitalization of $1.16 billion and an impressive gross profit margin of 73%, has been showing strong operational efficiency. According to InvestingPro analysis, the company is currently trading below its Fair Value, suggesting potential upside opportunity.
This integration, which leverages NVIDIA (NASDAQ:NVDA) AI and Edify, is trained on Getty Images' creative library, allowing users to create custom content that aligns with their specific needs. The service aims to offer an alternative to traditional stock imagery, enabling the creation of unique visual content directly through the Clarifai platform.
Peter Orlowsky, SVP of Global Strategic Partnerships at Getty Images, emphasized the commitment to responsible AI practices, stating that the partnership ensures creators and businesses have access to visual content that is legally protected and suitable for commercial use.
Clarifai's CEO, Matt Zeiler, Ph.D., highlighted the strategic engagement's focus on commercial safety, respect for intellectual property, and customer confidence in using AI-generated visuals for commercial purposes.
Customers can initially try the service for free, with subsequent volume-based discounts available. The collaboration is part of Clarifai's broader AI-powered workflow, which includes computer vision, classification, and automation capabilities.
Founded in 2013, Clarifai has been instrumental in the development of AI technologies and has a user base that spans across 170 countries. Getty Images, with its extensive global reach and content creator network, continues to expand its capabilities through generative AI technologies and tools.
The announcement reflects the growing demand for innovative AI solutions in the visual content space and the emphasis on responsible development and usage of AI-generated imagery. This information is based on a press release statement from Clarifai. With an EBITDA of $260.55 million in the last twelve months and positive earnings expectations, Getty Images shows promising financial fundamentals. InvestingPro subscribers have access to 8 additional ProTips and comprehensive analysis through the Pro Research Report, offering deeper insights into Getty Images' market position and growth potential.
In other recent news, Getty Images reported a 4.9% year-on-year revenue increase in its Third Quarter 2024 Earnings Call, reaching $240.5 million, with an adjusted EBITDA of $80.6 million. Subscription and editorial revenues saw significant growth, with subscriptions now making up over half of the total revenue and editorial revenue benefiting from major events like the Paris Olympics. However, creative revenue experienced a decrease and there was a deficit in free cash flow. The company has raised its revenue guidance for 2024 to a range of $934 million to $943 million, with adjusted EBITDA expectations set between $292 million and $294 million. CEO Craig Peters expressed optimism about growth through generative AI initiatives and data licensing efforts. Despite facing challenges such as a decrease in creative revenue and free cash flow, these recent developments indicate Getty Images' commitment to strategic growth and debt reduction.
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