Nvidia and Shutterstock Announce New 3D Artist Tools -- Is Tiny Shutterstock Stock a Buy?
Anyone remember Shutterstock (NYSE: SSTK)? The marketplace for digital pictures, video, and music -- which became a public company via IPO in 2012 -- had a heyday in the early days of the pandemic. Shares of the company skyrocketed, only to come crashing back down as the economy normalized and a bear market ensued in 2022.
But Shutterstock is at it again, this time trying to leverage the dawn of generative AI services like ChatGPT to its advantage. At Nvidia's (NASDAQ: NVDA) March 2023 technology conference, Shutterstock said it's using Nvidia cloud software (powered by their leading semiconductor systems) to create a new 3D rendering tool for creators. Could Shutterstock stock be a buy?
Shutterstock makes money by offering a repository of stock images, video, and music that can be used in digital media. The company also provides editing software for content creators. Shutterstock competes against Adobe (NASDAQ: ADBE) Stock and Getty Images Holdings (NYSE: GETY).
Source Fool.com
