Equity Compensation and Employee Benefit Plans (Tables)

12 Months Ended

Jan. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes stock-based compensation expense (in millions):


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024

Cost of goods sold	$	49.2	$	47.3	$	49.1
Research and development	409.0		395.6		411.1
Selling, general and administrative	132.6		154.5		149.6






Total stock-based compensation	$	590.8	$	597.4	$	609.8

Schedule of Nonvested Share Activity

A summary of restricted stock and stock unit activity for time-based and performance-based awards is as follows (in millions, except per share amounts):


	Time-Based			Performance-Based
	Number of Shares	Weighted-Average Grant Date Fair Value			Number of Shares	Weighted-Average Grant Date Fair Value





































Unvested Balance at February 1, 2025	12.4	$	56.17		5.2	$	49.19
Granted	10.9	$	61.92		1.7	$	55.84
Vested	(8.7)	$	52.90		(1.0)	$	47.76
Canceled/Forfeited	(2.4)	$	57.73		(1.1)	$	48.47
Unvested Balance at January 31, 2026	12.2	$	63.30		4.8	$	52.05

Schedule of Activity of Warrant Shares

Activity for the warrant shares is as follows (in millions):



	Fiscal 2025 Warrant Shares	Fiscal 2026 Warrant Shares




Balance outstanding at February 1, 2025	4.1	—
Granted	—	1.0
Vested	(0.6)	—
Cancelled	—	—
Balance outstanding at January 31, 2026	3.5	1.0

Schedule of Weighted Average Assumptions Used to Calculate Fair Value Awards

The following weighted-average assumptions were used to calculate the fair value of common stock to be issued under the ESPP on the date of grant using the Black-Scholes option pricing model:


	Year Ended
	January 31, 2026			February 1, 2025			February 3, 2024
Employee Stock Purchase Plan:
Estimated fair value	$	31.45		$	38.68		$	21.44
Expected volatility	68		%	54		%	55		%
Expected term (in years)	1.3			1.2			1.3
Risk-free interest rate	4.0		%	4.3		%	5.0		%
Expected dividend yield	0.3		%	0.2		%	0.4		%

The following weighted-average assumptions were used to calculate the fair value of common stock to be issued under PRSU awards on the date of grant using the Monte Carlo pricing model:


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024
PRSUs:
Expected term (in years)	3.4		3.0		3.5
Expected volatility	60	%	54	%	50	%
Average correlation coefficient of peer companies	0.7		0.7		0.7
Risk-free interest rate	3.9	%	4.6	%	3.7	%
Expected dividend yield	0.4	%	0.3	%	0.6	%

Schedule of Warrants Valuation Assumptions

The following assumptions were used to calculate the fair value of warrant shares on the date of issuance using the Black-Scholes option pricing model:


	Year Ended
	January 31, 2026			February 1, 2025
Warrant Shares:
Estimated fair value	$	53.02		$	54.44
Expected volatility	57		%	48		%
Expected term (in years)	6.0			7.0
Risk-free interest rate	3.7		%	4.1		%
Expected dividend yield	0.3		%	0.3		%