Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock image powerhouse geared for the artificial intelligence era, in a deal that would likely draw antitrust scrutiny.

This news was welcomed by investors of both companies, with GETY stock rising 25% and SSTK stock rising 14% on Tuesday, January 7.

Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.

Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.

Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.

The giant commercial photo and video providers are grappling with the emergence of artificial intelligence tools that have flooded the internet with AI-created images.

Getty Images’ $3.7 billion merger, including debt, with rival stock image seller Shutterstock is a picture-perfect template for more deals.

The deal, presented as a merger of equals, will create a company worth $3.7Bn with annual revenue of around $2Bn.

The Wallace and Gromit films have always featured inventions and technology and the new instalment, Vengeance Most Fowl is no different.

Jami'ai a birnin Los Angeles sun ce mummunar gobarar daji ta lalata sama da gidaje dubu 10 da wasu gine-gine a jihar California.

The world’s largest contract chipmaker reported a 39 per cent rise in October-December revenue to US$26.3 billion.