v3.25.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Technology equipment$13,170,295 $9,146,575 
Software459,742 139,508 
Data center equipment and leasehold improvements830,875 384,372 
Furniture, fixtures, and other assets12,949 8,684 
Construction in progress4,111,256 3,200,866 
Total property and equipment18,585,117 12,880,005 
Less: accumulated depreciation and amortization(1,953,607)(965,231)
Total property and equipment, net$16,631,510 $11,914,774 
Depreciation and amortization on property and equipment was $553 million and $164 million for the three months ended June 30, 2025 and 2024, respectively, and $996 million and $243 million for the six months ended June 30, 2025 and 2024, respectively.
The Company capitalized $17 million and $6 million of software development costs during the three months ended June 30, 2025 and 2024, respectively, and $43 million and $12 million during the six months ended June 30, 2025 and 2024, respectively.
The Company capitalizes interest associated with the construction of data centers and purchases of related technology equipment. There was $23 million and $41 million of interest capitalized during the three months ended June 30, 2025 and 2024, respectively, and $36 million and $73 million of interest capitalized during the six months ended June 30, 2025 and 2024, respectively.