The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:


	As of April 30, 2025
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	764,078	$	764,078	$	—	$	—
Treasury bills	33,910		—		33,910		—
Commercial paper	994		—		994		—
Agency bonds	26,545		—		26,545		—
Cash equivalents	825,527		764,078		61,449		—
Commercial paper	2,930		—		2,930		—
Agency bonds	997,588		—		997,588		—
Corporate and other debt securities	748,025		—		748,025		—
U.S. government agency securities	4,732,914		—		4,732,914		—
Treasury bills	82,519		—		82,519		—
Marketable securities	6,563,976		—		6,563,976		—



Publicly held equity securities included in strategic investments	47,479		47,479		—		—
Privately held debt securities included in strategic investments	4,463		—		—		4,463
Total financial assets	$	7,441,445	$	811,557	$	6,625,425	$	4,463


	As of January 31, 2025
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	825,044	$	825,044	$	—	$	—
Treasury bills	17,965		—		17,965		—
Agency bonds	23,992		—		23,992		—

Cash equivalents	867,001		825,044		41,957		—
Commercial paper	20,841		—		20,841		—
Agency bonds	1,174,484		—		1,174,484		—
Corporate and other debt securities	720,795		—		720,795		—
U.S. government agency securities	4,415,930		—		4,415,930		—
Treasury bills	110,279		—		110,279		—
Marketable securities	6,442,329		—		6,442,329		—



Publicly held equity securities included in strategic investments	35,280		35,280		—		—
Privately held debt securities included in strategic investments	4,450		—		—		4,450
Total financial assets	$	7,349,060	$	860,324	$	6,484,286	$	4,450