v3.26.1
Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2025
Cash flows used in operating activities:    
Net loss $ (486,379,000) $ (486,379,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based charitable contribution expense   173,784,000
Change in fair value as a result of fair value remeasurements   111,590,000
Series A and Series B Convertible Notes inducement expense   23,674,000
Foreign exchange (gain) loss, net   3,273,000
Other non-cash activities   653,000
Changes in operating assets and liabilities:    
Accounts payable and accrued liabilities   14,995,000
Prepaid expenses and other assets   (8,486,000)
Net cash used in operating activities   (34,151,000)
Cash flows used in investing activities:    
Investments in property, plant, and equipment   (569,304,000)
Other investing activities   (956,000)
Net cash used in investing activities   (570,260,000)
Cash flows from financing activities:    
Proceeds from issuance of Series A Convertible Notes   75,500,000
Proceeds from issuance of Seed Convertible Notes   26,124,000
Proceeds from issuance of Preferred Units   107,552,000
Proceeds from issuance of Macquarie Term Loan   100,000,000
Payment of Promissory Note   (20,000,000)
Payment of debt issuance costs   (1,012,000)
Payment of offering costs   (21,209,000)
Proceeds from share issuance upon initial public offering, net of underwriting discounts and commissions   745,631,000
Other financing activities   354,000
Net cash provided by financing activities   1,012,940,000
Change in cash and cash equivalents   408,529,000
Cash and cash equivalents, at beginning of period   0
Cash, cash equivalents and restricted cash, at end of period $ 408,529,000 408,529,000
Related Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense   3,616,000
Nonrelated Party    
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense   $ 129,129,000