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INVESTMENTS
 3 Months Ended
May 02, 2025
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
The Company has strategic investments in equity and other securities as well as immaterial investments in fixed income debt securities that are primarily recorded as long-term investments in the Condensed Consolidated Statements of Financial Position. As of May 2, 2025 and January 31, 2025, total investments were $1.6 billion and $1.5 billion, respectively.

Equity and other securities include strategic investments in marketable and non-marketable securities. Investments in marketable securities are measured at fair value on a recurring basis. Investments in non-marketable equity and other securities primarily represent early-stage companies without readily determinable fair values. The Company has elected to apply the measurement alternative for non-marketable securities. Under the alternative, the Company measures investments without readily determinable fair values at cost, less impairment, adjusted for observable price changes. The Company makes a separate election to use the alternative for each eligible investment and is required to reassess at each reporting period whether an investment qualifies for the alternative. In evaluating these investments for impairment or observable price changes, the Company uses inputs including pre- and post-money valuations of recent financing events and the impact of those events on its fully diluted ownership percentages, as well as other available information regarding the issuer’s historical and forecasted performance.

Carrying Value of Equity and Other Securities

The following table presents the cost, cumulative unrealized gain, cumulative unrealized loss, and carrying value of the Company's strategic investments in marketable and non-marketable equity and other securities as of the dates indicated:
May 2, 2025January 31, 2025
CostUnrealized GainUnrealized LossCarrying ValueCostUnrealized GainUnrealized LossCarrying Value
(in millions)
Marketable$11 $24 $(28)$7 $11 $24 $(27)$8 
Non-marketable809 1,030 (267)1,572 739 1,009 (261)1,487 
Total equity and other securities$820 $1,054 $(295)$1,579 $750 $1,033 $(288)$1,495 

Gains and Losses on Equity and Other Securities

The following table presents unrealized gains and losses on marketable and non-marketable equity and other securities for the periods indicated:
Three Months Ended
May 2, 2025May 3, 2024
(in millions)
Marketable securities:
Unrealized loss$(1)$(5)
Non-marketable securities:
Unrealized gain22 — 
Unrealized loss(6)(30)
Net unrealized gain (loss) on equity and other securities (a) (b)$15 $(35)
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(a)For the three months ended May 2, 2025, net unrealized gains on non-marketable securities were primarily attributable to upward adjustments for observable price changes offset by losses attributable to impairments.
(b)For the three months ended May 3, 2024, net unrealized losses on non-marketable securities were primarily attributable to downward adjustments for observable price changes.