Share Incentive Plan (Tables)

12 Months Ended

May 02, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Information Related to Share Option Activity

A summary of information related to share option activity, excluding options early exercised, is as follows:


	Outstanding Share Options (in millions)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of April 29, 2023	8.9	$	2.02	6.22	$	0.1
Options exercised and vested	(2.3)	$	1.98
Options canceled/ forfeited	(0.2)	$	4.64
Balances as of April 27, 2024	6.4	$	1.97	5.30	$	106.5
Options exercised and vested	(2.9)	$	1.64
Options canceled/ forfeited	—	$	4.58
Balances as of May 3, 2025	3.5	$	2.23	4.79	$	162.8
Options exercised and vested	(1.4)	$	2.23
Options canceled/ forfeited	—	$	2.33
Balances as of May 2, 2026	2.1	$	2.24	3.96	$	383.4
Vested or expected to vest as of May 2, 2026	2.1	$	2.24	3.96	$	383.4
Exercisable as of May 2, 2026	2.1	$	2.24	3.96	$	383.4

Schedule of RSU and PSU Activity

A summary of RSU activity is as follows:


	Number of shares (in millions)	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of Balance as of April 29, 2023	7.8	$	11.66	1.65	$	63.2
Granted	5.4	$	20.08
Vested	(2.6)	$	11.98
Canceled/ forfeited	(0.4)	$	11.49
Balances as of Balances as of April 27, 2024	10.1	$	16.11	1.52	$	188.2
Granted	3.9	$	59.10
Vested	(4.0)	$	15.53
Canceled/ forfeited	(0.6)	$	20.05
Balances as of Balances as of May 3, 2025	9.5	$	33.88	1.39	$	458.1
Granted	2.2	$	112.72
Vested	(4.2)	$	29.64
Canceled/ forfeited	(0.3)	$	32.40
Balances as of Balances and expected to vest as of May 2, 2026	7.2	$	58.43	1.18	$	1,319.6

A summary of PSU activity is as follows:


	Number of shares (in millions)	Weighted-Average Grant Date Fair Value		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value (in millions)
Balances as of April 27, 2024	—	$	—	0.00	$	—
Granted	0.2	$	43.70
Balances as of May 3, 2025	0.2	$	43.70	2.53	$	10.1
Granted	1.3	$	92.57
Balances as of Balances and expected to vest as of May 2, 2026	1.5	$	85.33	2.15	$	272.1

Schedule of Weighted Average Assumptions used in Black-Scholes Model

The following weighted-average assumptions to calculate the fair value of ordinary shares to be issued under the ESPP on the date of grant using the Black-Scholes option pricing model in the periods presented:


	Year Ended
	May 2, 2026	May 3, 2025	April 27, 2024
Grant date fair value	$27.64	$10.51	$6.04
Expected volatility	78.62%	74.99%	56.13%
Expected term (in years)	1.27	1.18	1.33
Risk-free interest rate	4.29%	4.74%	3.40%
Expected dividend yield	—%	—%	—%

Schedule of Share-based Compensation Expense

The following table summarizes share-based compensation cost included in the consolidated statements of operations (in thousands).


	Year Ended
	May 2, 2026		May 3, 2025		April 27, 2024
Cost of revenue	$	1,416	$	1,194	$	1,131
Research and development	102,576		41,930		21,359
Selling, general and administrative	78,646		34,231		16,532
	$	182,638	$	77,355	$	39,022