Apple’s $25-50 Million Shutterstock Deal Highlights Fierce Competition For AI Training Data

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Apple has entered into a significant agreement with stock photography provider Shutterstock to license millions of images for training its artificial intelligence models. According to a Reuters report, the deal is estimated to be worth between $25 million and $50 million, placing Apple among several tech giants racing to secure vast troves of data to power their AI systems.

Sources familiar with the matter told Reuters that Apple, along with Meta, Google and Amazon, has struck licensing agreements with Shutterstock in recent months to access hundreds of millions of images, videos, and music files from its library.

While the exact terms of Apple’s deal remain undisclosed, Shutterstock’s Chief Financial Officer Jarrod Yahes confirmed to Reuters that the initial agreements with these tech firms ranged from $25-50 million each, with most later being expanded…..Story continues….

By: Michael Nuñez

Source: Apple’s $25-50 million Shutterstock deal highlights fierce competition for AI training data | VentureBeat

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