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


	As of April 30, 2026
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	470,662	$	470,662	$	—	$	—


Agency bonds	3,486		—		3,486		—
Cash equivalents	474,148		470,662		3,486		—
U.S. government agency securities	5,590,416		—		5,590,416		—
Agency bonds	1,195,153		—		1,195,153		—

Treasury bills	44,468		—		44,468		—

Marketable securities	6,830,037		—		6,830,037		—




Privately held debt securities included in strategic investments	3,978		—		—		3,978
Total financial assets	$	7,308,163	$	470,662	$	6,833,523	$	3,978


	As of January 31, 2026
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	724,236	$	724,236	$	—	$	—
Treasury bills	16,876		—		16,876		—
Agency bonds	22,298		—		22,298		—

Cash equivalents	763,410		724,236		39,174		—
U.S. government agency securities	5,383,887		—		5,383,887		—
Agency bonds	1,095,471		—		1,095,471		—

Treasury bills	64,673		—		64,673		—

Marketable securities	6,544,031		—		6,544,031		—




Privately held debt securities included in strategic investments	3,968		—		—		3,968
Total financial assets	$	7,311,409	$	724,236	$	6,583,205	$	3,968