Shutterstock Teams With NVIDIA to Build AI Foundation Models for Generative 3D Artist Tools

Rhea-AI Summary

Shutterstock (NYSE: SSTK) has partnered with NVIDIA to develop generative AI capabilities that enable rapid creation of 3D content using text prompts. This collaboration utilizes NVIDIA's Picasso generative AI cloud service, significantly reducing the time required to generate high-quality 3D models from hours to minutes. The new feature will be integrated into Shutterstock's platform and will expand the tools available to 3D artists, allowing them to design complex digital twins efficiently. This initiative aligns with Shutterstock's strategy to leverage its extensive asset library to tap into a large market opportunity in the evolving 3D content space.

Positive

• Partnership with NVIDIA could enhance Shutterstock's market position in 3D content creation.
• Utilization of NVIDIA's technology could reduce 3D asset creation time from hours to minutes, improving workflow efficiency.
• Expansion of tools for 3D creators aligns with growing demand in digital twins and metaverse applications.

Negative

• None.

Customized Shutterstock content trained with NVIDIA Picasso generative AI cloud service to use text prompts to rapidly generate 3D content for industrial digital twins, entertainment and gaming

NEW YORK, March 21, 2023 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform for transformative brands and media companies, today announced it is partnering with NVIDIA to train custom 3D models to create generative 3D assets from simple text prompts. Through a first of its kind collaboration, 3D models will be trained with Shutterstock assets using NVIDIA Picasso generative AI cloud services to convert text into high-fidelity 3D content, reducing creation time from hours to minutes.

When the models are introduced in the coming months on Shutterstock.com, the new NVIDIA-powered generative AI capabilities will be the latest addition to Creative Flow, an extensive toolkit designed to power the most seamless creative experience possible. The text-to-3D features will also be offered on Turbosquid.com and is planned to be introduced on the NVIDIA Omniverse™ platform for building and operating 3D industrial metaverse applications.

"Our generative 3D partnership with NVIDIA will power the next generation of 3D contributor tools, greatly reducing the time it takes to create beautifully textured and structured 3D models," said Shutterstock CEO Paul Hennessy. "This first of its kind partnership furthers our strategy of leveraging Shutterstock's massive pool of metadata to bring new products, tools, and content to market. By combining our 3D content with NVIDIA's foundation models, and utilizing our respective marketing and distribution platforms, we can capitalize on an extraordinarily large market opportunity."

With today's professional software tools, building a high quality, detailed 3D model from scratch is often a challenging and time-consuming task for creators. In the case of a content being created for use as a digital twin, where absolute precision is required, the complexity of the job can take days or even longer depending on the specifics of the model. By creating custom models with the NVIDIA Picasso generative AI cloud service, Shutterstock will help 3D artists create object shapes, assist with object unwrapping, generate textures and materials and, for non-3D users, will even produce complete 3D models ready for use in a wide variety of applications and platforms.

"The transformative capabilities of generative AI make it possible for software makers and enterprises to build tools that use simple text prompts to create 3D assets for digital twins, simulation and design, saving artists enormous amounts of time and effort," said NVIDIA Vice President of Developer Programs Greg Estes. "Training a custom Shutterstock model with the NVIDIA Picasso generative AI cloud services will give developers a tool that can automate much of the tedious work for artists, freeing them to spend more time exploring new concepts and refining their ideas."

As part of its responsible AI focus and in correlation with sales of the customized 3D models on Shutterstock's platform, Shutterstock will compensate artists through its Contributor Fund for the role their IP plays in training the generative technology.

ABOUT NVIDIA
Since its founding in 1993, NVIDIA (NASDAQ: NVDA) has been a pioneer in accelerated computing. The company's invention of the GPU in 1999 sparked the growth of the PC gaming market, redefined computer graphics, ignited the era of modern AI and is fueling the creation of the metaverse. NVIDIA is now a full-stack computing company with data-center-scale offerings that are reshaping industry. More information at https://nvidianews.nvidia.com/.

ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK), is a leading global creative platform for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock's comprehensive collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. Working with its growing community of more than 2 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 600 million images and more than 45 million video clips available.

Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The Company also owns Splash News, an entertainment news agency for newsrooms and media companies worldwide; Pond5, one of the world's largest video-first content marketplaces; TurboSquid, one of the world's largest 3D content marketplaces; PicMonkey, an online graphic design and image editing platform; Offset, a high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial images and videos for the world's media; and Bigstock, a value-oriented stock media offering.

For more information, please visit www.shutterstock.com and follow Shutterstock on Twitter and on Facebook.

NVIDIA FORWARD-LOOKING STATEMENTS
Certain statements in this press release including, but not limited to, statements as to: the benefits, impact, performance, availability and features of NVIDIA's partnership with Shutterstock to use images and text prompts to rapidly generate 3D content for industrial digital twins, entertainment, and gaming; and the benefits, impact, performance, features and availability of NVIDIA's products, and technologies, including NVIDIA Picasso generative AI cloud services, NVIDIA Omniverse, and NVIDIA foundation models are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; NVIDIA's reliance on third parties to manufacture, assemble, package and test NVIDIA's products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA's existing product and technologies; market acceptance of NVIDIA's products or NVIDIA's partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA's products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

SHUTTERSTOCK FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly in the discussion under the caption "2023 Guidance." All statements other than statements of historical fact are forward-looking. Examples of forward-looking statements include, but are not limited to, statements regarding guidance, industry prospects, future business, future results of operations or financial condition, new or planned features, products or services, management strategies and our competitive position. You can identify forward-looking statements by words such as "may," "will," "would," "should," "could," "expect," "aim," "anticipate," "believe," "estimate," "intend," "plan," "predict," "project," "seek," "potential," "opportunities" and other similar expressions and the negatives of such expressions. However, not all forward-looking statements contain these words. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements contained herein. Such risks and uncertainties include, among others, those discussed under the caption "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in other documents that the Company may file from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, Shutterstock's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The forward-looking statements contained in this press release are made only as of this date and Shutterstock assumes no obligation to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. 

© 2023 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, and NVIDIA Omniverse are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

 

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SOURCE Shutterstock, Inc.

FAQ

What is Shutterstock's partnership with NVIDIA about?

Shutterstock has partnered with NVIDIA to use generative AI for creating 3D content from text prompts, enhancing the workflow for content creators.

How will the partnership impact Shutterstock (SSTK)?

The partnership aims to improve Shutterstock's 3D content offerings and potentially increase its market share in the growing field of digital assets.

When will the new NVIDIA-powered features be available on Shutterstock?

The new generative AI features are expected to be introduced in the coming months on Shutterstock's platform.

What are the benefits of using NVIDIA's Picasso AI cloud service?

NVIDIA's Picasso service allows for fast and efficient generation of high-fidelity 3D models, significantly reducing creation time.

Does this partnership affect NVIDIA (NVDA) stock?

While the press release focuses on Shutterstock, the partnership may enhance NVIDIA's market appeal by showcasing its AI capabilities in creative industries.