SSTK - Shutterstock Expands AI Horizons: New Partnership with Reka AI to Enhance Digital Asset Metadata | Benzinga
Shutterstock Inc. (NYSE:SSTK), a well-known platform for images and videos, has entered into a partnership with Reka AI, a startup specializing in large language models. The financial terms were not disclosed.
As part of this partnership, Reka will license Shutterstock’s extensive library of digital visual assets to assist in developing frontier-class multimodal language AI models.
In addition to continued investment in human-created metadata, Shutterstock expects to leverage Reka’s multimodal models to augment details and improve the metadata attached to its library of digital assets.
The licensing business with AI firms generated $104 million in revenue last year, CEO Paul J. Hennessy said in an interview, according to a report from Bloomberg.
Meta Platforms Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOGL), Amazon.com Inc. (NASDAQ:AMZN), and Apple Inc. (NASDAQ:AAPL) are among the key clients of Shutterstock’s ...