Apple Invests in Shutterstock Images for AI Development

The tech giant has secured a licensing deal with Shutterstock, ranging from $25 million to $50 million, to enhance its AI models.

Apple has paid millions to license Shutterstock's vast library of images and videos for AI training, with the deal estimated between $25 million and $50 million.
The licensing agreement aims to bolster Apple's AI models, as the company prepares to unveil new AI features at WWDC24.
Other tech companies, including Google and Microsoft, have also pursued similar deals for AI model training, highlighting the industry's shift towards licensed content.
Apple's upcoming AI features are expected to include generative AI capabilities on iPhones, with potential partnerships with Google or OpenAI.
The iPhone 16's A-series chip may see an upgrade to support the enhanced AI processing, benefiting features like Siri.