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Power Corporation of Canada, Great-West Lifeco and IGM Financial Announce Joint Investment in Sagard AI Fund

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Power Corporation of Canada (POW.TO), Great-West Lifeco Inc (GWO.TO) and IGM Financial Inc (IGM.TO) on Wednesday announced a combined US$150 million investment in the newly established Sagard AI Fund LP.

The Fund is a closed-end investment vehicle focused on backing "leading" artificial intelligence companies that are accelerating the adoption of AI across financial services and other key sectors globally, stated the companies.

"This investment forms part of a broader approach across the Power group to engage early and meaningfully with AI as a foundational technology - supporting long term growth, productivity gains, talent development, and enhanced client and advisor experiences," the statement noted.

Power Corporation of Canada's shares were last seen up C$0.75 at C$81.40, Great-West Lifeco's shares were last seen up C$0.51 at C$78.66 and IGM Financial's shares were last seen up C$0.76 at C$78.23, on the Toronto Stock Exchange.

Price: $81.16, Change: $+0.51, Percent Change: +0.63%

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