The amortized cost, gross unrealized gains and losses, and fair value of cash and cash equivalents, as of June 30, 2026 and December 31, 2025, were as follows (in millions):


	June 30, 2026
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents
Cash	$	187	$	—	$	—	$	187	$	187

Money market funds	709		—		—		709		709









Total	$	896	$	—	$	—	$	896	$	896


	December 31, 2025
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents
Cash	$	86	$	—	$	—	$	86	$	86
Money market funds	876		—		—		876		876










Total	$	962	$	—	$	—	$	962	$	962

A summary of equity method investments and non-marketable equity securities as of June 30, 2026 and December 31, 2025 were as follows (in millions):

During the six months ended June 30, 2026, a subsidiary of the Company entered into a Simple Agreement for Future Equity (“SAFE”) with a private company for an aggregate amount of $5 million, which is accounted for as a non-marketable equity security under the measurement alternative. The SAFE converts into preferred equity upon a qualifying financing at a predetermined valuation cap. No losses, whether from impairment or other observable price changes, were recognized in the condensed consolidated statements of operations for both the three and six months ended June 30, 2026 and 2025 related to non-marketable equity securities held as of those dates.