Thoughts on the Getty Images/OpenAI deal this morning

Getty Images jumped 200% this morning on an OpenAI deal. The announcement didn't include a single dollar figure. No annual minimum. No per-query fee. No revenue share. No training terms. Just a multi-year agreement that puts Getty's licensed content into ChatGPT search and discovery experiences. The market celebrated anyway. That's the actual story. Not that Getty got a huge check, we don't know that. The story is that the market is so starved for proof that AI companies will negotiate licensed