LONDON, Sept 25 (Reuters) - Amsterdam-based Nebius

Group, which emerged from a deal to split the assets of Russian

tech giant Yandex, plans to invest more than $1 billion in

infrastructure in Europe for artificial intelligence (AI) by

mid-2025, the company said on Wednesday.

A Russian consortium in July finalised a $5.4 billion deal

to buy Yandex's Russia-based assets in a move that hived off

foreign assets in the largest corporate exit since Russia's

invasion of Ukraine in February 2022, albeit at a big discount.

Freed from its ties to Russia, Nebius plans to join a drive

to build infrastructure underpinning artificial intelligence,

founder Arkady Volozh told Reuters in July.

Nebius Group includes data partner Toloka AI, education

technology business TripleTen, and self-driving unit Avride.

Nebius has also inherited Yandex's Nasdaq listing,

although trading remains suspended for now.

Nebius said in a statement that it would spend the funds on

expanding GPU (graphics processing unit) capacity, including on

a new GPU cluster in Paris that will offer Nvidia GPUs,

new-build data centres and expanding its data centre in Finland.

The investments will enable Nebius to reach a total capacity

of tens of thousands of GPUs, it said. Nebius has signed letters

of intent to build two new data centres in Europe, it added, and

has started work on expanding the Finland data centre.