Other Balance Sheet Components

6 Months Ended

Jun. 30, 2026

Other Balance Sheet Components [Abstract]

6. Other Balance Sheet Components

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following (in millions):


	As of
	June 30, 2026		December 31, 2025
Prepaid expenses	$	84	$	63
Accrued interest receivable	47		35
Other current assets	8		11
Total prepaid expenses and other current assets	$	139	$	109

Property and equipment, net

Property and equipment, net, consisted of the following (in millions):


	As of
	June 30, 2026		December 31, 2025
Servers and related equipment and software	$	1,218	$	1,065
Computer hardware and software licenses	61		59
Furniture and fixtures	3		2
Leasehold improvements	269		263
Construction in progress	20		11
Prepayments for purchase of equipment and construction in progress	42		169
Total property and equipment	1,613		1,569
Less accumulated depreciation and amortization	(790)		(684)
Property and equipment—net	$	823	$	885

Construction in progress primarily relates to leasehold improvements for the Company’s leased office buildings and networking and other infrastructure equipment to support the Company’s data centers.

Total depreciation and amortization expense of property and equipment was $63 million and $124 million for the three and six months ended June 30, 2026, respectively, and $50 million and $99 million for the three and six months ended June 30, 2025, respectively.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following (in millions):


	As of
	June 30, 2026		December 31, 2025
Accrued operating expenses and liabilities	$	200	$	67
Short-term operating lease liabilities	158		151
Accrued interest on the 2030 Notes	6		6
Taxes payable	74		99
Accrued compensation and other employee related liabilities	27		48
Short-term debt	—		15

Other current liabilities	14		10
Total accrued expenses and other current liabilities	$	479	$	396