| Schedule of Marketable Debt Securities |
The following tables summarize our marketable debt securities: | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | (In thousands) | Amortized
Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | U.S. treasury securities | $ | 810,231 | | | $ | 163 | | | $ | (2,356) | | | $ | 808,038 | | | Corporate notes | 438,660 | | | 161 | | | (874) | | | 437,947 | | | U.S. government-sponsored enterprise securities | 340,633 | | | 30 | | | (1,040) | | | 339,623 | | | Commercial paper | 14,232 | | | — | | | (11) | | | 14,221 | | | | | | | | | | | Total | $ | 1,603,756 | | | $ | 354 | | | $ | (4,281) | | | $ | 1,599,829 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | | | | | (In thousands) | Amortized
Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | | | | | U.S. treasury securities | $ | 670,566 | | | $ | 1,736 | | | $ | (9) | | | $ | 672,293 | | | | | | | Corporate notes | 332,104 | | | 1,152 | | | (15) | | | 333,241 | | | | | | | U.S. government-sponsored enterprise securities | 254,829 | | | 559 | | | (64) | | | 255,324 | | | | | | | Commercial paper | 9,012 | | | — | | | — | | | 9,012 | | | | | | | | | | | | | | | | | | | Municipal securities | 5,000 | | | 1 | | | — | | | 5,001 | | | | | | | Total | $ | 1,271,511 | | | $ | 3,448 | | | $ | (88) | | | $ | 1,274,871 | | | | | |
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| Schedule of Fair Value of Marketable Debt Securities |
The fair values of our marketable debt securities by classification in the condensed consolidated balance sheets were as follows: | | | | | | | | | | | | | (In thousands) | As of June 30, 2026 | | As of December 31, 2025 | | Marketable debt securities | $ | 1,599,829 | | | $ | 1,251,234 | | | Cash and cash equivalents | — | | | 23,637 | | | Total | $ | 1,599,829 | | | $ | 1,274,871 | |
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