Shutterstock Jumps 19.78% After Seeing Enterprise Demand Accelerate, Lifted by AI Spending
0833 ET - Shutterstock is seeing accelerating demand from enterprise customers, lifted mostly by demand for the company's business that licenses Shutterstock's content to train AI models. The company posts a 14% gain in 3Q sales, lifted by a 60% increase in enterprise sales. Shutterstock cites strong demand for its computer vision data business, which provides metadata used to train AI models and generated almost $46 million in 3Q. Shutterstock climbs 9% in premarket trading.